THE PR COMMISSIONER OF INCOME TAX vs. M/S. THE MANGALORE CATHOLIC CO_OPERATIVE BANK LIMITED

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ITA/23/2019HC KarnatakaKAHC01031716201911 October 2022Bench: P.S.DINESH KUMAR,C.M. POONACHA3 pages
AI SummaryDismissed

What did the High Court hold?

The High Court held that the substantial questions of law raised in the appeal were covered by a previous decision. Consequently, the questions of law were held against the Revenue and in favor of the Assessee.

What were the facts?

The Revenue appealed an ITAT order that confirmed the Commissioner's order. The appeal was filed under Section 260-A of the Income Tax Act, 1961.

What were the issues?

Whether the substantial questions of law raised by the Revenue are covered by existing judicial precedents.

Which sections of the Income-tax Act were involved?

Section 260-A

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 11TH DAY OF OCTOBER, 2022 PRESENT THE HON'BLE MR. JUSTICE P.S.DINESH KUMAR AND THE HON’BLE MR. JUSTICE C.M. POONACHA I.T.A. No.23 OF 2019

BETWEEN

1 . THE PR. COMMISSIONER OF INCOME TAX CIT(A) C R BUILDING, ATTAVARA MANGALURU-575 001

2 . THE ASST. COMMISSIONER OF INCOME TAX CIRCLE-2(1) C R BUILDING, ATTAVARA MANGALURU-575 001 ...APPELLANTS (BY SRI DILIP M, ADVOCATE FOR SRI ARAVIND K V, ADVOCATE)

AND

M/S. THE MANGALORE CATHOLIC CO-OPERATIVE BANK LIMITED ST.ALOYSIUS COLLEGE ROAD HAMPANKATTA MANGALURU-575 001 …RESPONDENT (BY SRI BALRAM R RAO, ADVOCATE)

2 THIS INCOME TAX APPEAL UNDER SEC.260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 14.09.2018 PASSED IN ITA NO. 19/PAN/2017, FOR THE ASSESSMENT YEAR 2013-2014, PRAYING TO FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED ABOVE AND ALLOW THE APPEAL AND SET ASIDE THE ORDERS PASSED BY THE INCOME TAX APPELLATE TRIBUNAL, BENGALURU IN ITA NO. 19/PAN/2017 DATED 14/09/2018 FOR ASSESSMENT YEAR 2013-2014 ANNEXURE-C CONFIRMING THE ORDER OF THE APPELLATE COMMISSIONER AND CONFIRM THE ORDER PASSED BY THE ASST. COMMISSIONER OF INCOME TAX, CIRCLE-2(1), MANGALURU AND ETC.,

THIS ITA COMING ON FOR HEARING, THIS DAY P.S. DINESH KUMAR J., DELIVERED THE FOLLOWING:

JUDGMENT Sri Balaram R. Rao, learned Advocate for the respondent submits that the two substantial questions of law raised in this appeal on 31.10.2019 are covered by the decisions in the case of The Pr. Commissioner of Income-tax, CIT(A) and another Vs. M/s. South Canara District, Central Co-operative Bank Ltd., in ITA No.393/2016 decided on 14.12.2021.

2.

The said submission is not disputed by Sri Dilip M., learned standing counsel for the appellants. 3. In view of the above, substantial questions of law raised in this appeal are held against the Revenue and in favour of the Assessee and this appeal stands dismissed.

(SD/-)

JUDGE

(SD/-)

JUDGE

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