THE COMMISSIONER OF INCOME TAX vs. M/S WIPRO FINANCE LTD

1 IN THE HIGH COURT OF KARNATAKA AT BANGALORE

DATED THIS THE 09TH DAY OF OCTOBER, 2012 PRESENT THE HON’BLE MR.JUSTICE K. SREEDHAR RAO AND

THE HON’BLE MR. JUSTICE B.V.PINTO

ITA NO.681 OF 2007 BETWEEN

BANGALORE. ... APPELLANTS

(BY SRI. K V ARAVIND, ADV.) AND

M/S WIPRO FINANCE LTD NO.5, PAPANNA STREET ST.MARK’S ROAD CROSS BANGALORE. ... RESPONDENT

(BY SRI.R B KRISHNA, MURTHY & KUMAR, ADVS.)

THIS ITA IS FILED U/S.260-A OF I.T.ACT, 1961 ARISING OUT OF ORDER DATED 20-04-2007 PASSED IN ITA NO.284/BNG/2003, FOR THE ASSESSMENT YEAR 1994-95, PRAYING TO:

2 I. FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED THEREIN, II. ALLOW THE APPEAL AND SET ASIDE THE ORDER PASSED BY THE ITAT BANGALORE IN ITA NO. 284/BNG/2003, DATED 20-04-2007 CONFIRM THE ORDERS OF THE APPELLATE COMMISSIONER AND CONFIRM THE ORDER PASSED BY THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- IV,BANGALORE IN THE INTEREST OF JUSTICE AND EQUITY.

THIS ITA COMING ON FOR FINAL HEARING THIS DAY, SREEDHAR RAO J., DELIVERED THE FOLLOWING:-

J U D G M E N T

This Court in ITA Nos.106/2004 and 633/2004 disposed of on 02.04.2008, has held that income which is assessed as undisclosed income would not have been assessed for the regular assessment years. In that view, the substantial question of law raised in the memorandum of appeal are answered against the Revenue. However, it is submitted that the assessee has preferred an appeal in Civil Appeal No.2696/2010 before the Supreme Court wherein, deduction disallowed in the block assessment year, was also disallowed in the regular assessment on protective basis. The said order

3 is challenged by the assessee in the Supreme Court. If the Supreme Court were to answer in favour of the assessee, the Revenue can file a memo and get this appeal revived for disposal in accordance with law. Accordingly, this appeal is disposed of.

Sd/- JUDGE

Sd/- JUDGE

nvj