What did the High Court hold?

The High Court permitted the appellant to withdraw the appeal. Liberty was reserved to review the matter if the dispute is not settled under the Direct Tax Vivad Se Vishwas Act, 2020.

The appellant, Karnataka Vikrama Grameena Bank, filed an appeal before the High Court challenging an ITAT order. The appellant later filed a memo seeking to withdraw the appeal.

What were the issues?

The primary issue was the appellant's request to withdraw the appeal due to opting for the Vivad Se Vishwas scheme.

M/S.Kanrataka Vikas Grameena Bank vs ACIT | Karnataka High Court 2022

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ITA No. 100008 of 2020

IN THE HIGH COURT OF KARNATAKA, DHARWAD BENCH DATED THIS THE 31ST DAY OF OCTOBER, 2022 PRESENT THE HON'BLE MR JUSTICE S.SUNIL DUTT YADAV AND THE HON'BLE MR JUSTICE UMESH M ADIGA INCOME TAX APPEAL NO. 100008 OF 2020 (-) BETWEEN:

M/S.KANRATAKA VIKAS GRAMEENA BANK REP. BY ITS GENERAL MANAGER, P NAGESHWARA RAO, HEAD OFFICE, H.O. BUILDING, BELAGAVI ROAD, DHARWAD-580008. …APPELLANT (BY SRI. SHASHANK S HEGDE.,ADVOCATE) AND:

ASST. COMMISSIONER OF INCOME TAX CIRCLE 2(1), CENTRAL REVENUE BUILDING, HUBBALLI-580025. …RESPONDENT

THIS ITA FILED U/SEC.260A OF THE INCOME-TAX ACT, 1961, PRAYING TO, a) FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW AS STATED ABOVE AND ANSWER THE SAME IN FAVOUR OF THE APPELLANT. b) ALLOW THE APPEAL AND SET ASIDE THE FINDINGS TO THE EXTENT AGAINST THE ASSESSEE IN THE COMMON ORDER PASSED BY THE INCOME TAX APPELLATE TRIBUNAL, BENGALURU ‘B’ BENCH IN ITA NOS.636/BANG/2015 FOR THE A.Y. 2007-08 AND IN ITA NOS.627/BANG/2015 AND ITA NO.637/BANG/2015 FOR THE A.Y. 2011-12 DATED 19.02.2020 VIDE ANNEXURE A. THIS ITA COMING ON FOR ORDERS THIS DAY, S.SUNIL DUTT YADAV J., DELIVERED THE FOLLOWING:

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ITA No. 100008 of 2020

JUDGMENT

Learned counsel for the appellant has filed a memo, which reads as under:

“1. The above named Appellant has filed Income Tax Appeal under Section 260A of the Income Tax Act, 1961 challenging the order passed by the Income Tax Appellate Tribunal, Bangalore Bench in ITA No.636/Bang/2015 dated 19.02.2020 for the Assessment Year 2007-08 and challenging the order passed by the Income Tax Appellate Tribunal, Bangalore Bench in ITA No.627/Bang/2015 and 637/Bang/2015 dated 19.02.2020 for the Assessment Year 2011-12.

The Appellant filed Form-1 and Form-2 for declaration and undertaking for paying taxes on disputed income under the scheme named The Direct Tax Vivad Se Vishwas Act, 2020 for the Assessment Year.

Thereafter, the Principal Commissioner of Income Tax, Hubli issued Form-3 certificate under sub-section (1) of Section 5 of the Direct Tax Vivad Se Vishwas Act, 2020 dated 19.04.2021, after verifying Form-1 and Form-2. Copy of the Form-3 are enclosed herewith for this Hon’ble Court’s reference and records.

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ITA No. 100008 of 2020

Wherefore, in view of the above submissions the Appellant humbly prays this Hon’ble Court may be pleased to permit the Appellant to withdraw the above Income Tax Appeal with liberty to review, in case, if the dispute is not settled under the scheme the Direct Tax Vivad Se Vishwas Act, 2020 in the interest of justice and equity.”

In the light of the same, the appeal is dismissed as withdrawn. Liberty is reserved to review the matter, in case, the dispute is not settled under the Direct Tax Vivad Se Vishwas Act, 2020.

Sd/- JUDGE

MBS List No.: 1 Sl No.: 3

M/S.KANRATAKA VIKAS GRAMEENA BANK vs. ASST. COMMISSIONER OF INCOME TAX

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