THE COMMISSIONER OF INCOME TAX vs. SHRI K L SRIHARI (HUF)

1 IN THE HIGH COURT OF KARNATAKA, BANGALORE

DATED THIS THE 28TH DAY OF AUGUST, 2012

PRESENT

THE HON'BLE MR. JUSTICE K.SREEDHAR RAO

AND

THE HON'BLE MR. JUSTICE B.MANOHAR

I.T.A. No. 660 OF 2007

BETWEEN:-

AND:-

Shri K.L. Srihari (HUF), No.9, Seshadri Road, Bangalore-9. Respondent (By Sri S. Sundaresh and Sri S. Sukumar, Advocates)

This I.T.A. is filed U/s.260-A of the I.T. Act, 1961 arising out of Order dated 06.12.2006 passed in ITA No.495/BNG/2005, for the Assessment Year 2000-01,

2 praying that this Hon’ble Court may be pleased to: (i) formulate the substantial questions of law stated therein and (ii) allow the appeal and set aside the order passed by the ITAT, Bangalore in ITA No.495/BNG/2005, dated 06.12.2006 confirm the orders of the Appellate Commissioner and confirm the order passed by the Deputy Commissioner of Income Tax, Central Circle-1(1), Bangalore in the interest of justice and equity.

This appeal is coming on for final hearing this day, SREEDHAR RAO, J., delivered the following:

J U D G M E N T

In this appeal, the assessee offered income as business income and claimed certain deductions. The Assessing Officer considered the income as “from other sources” and disallowed the deduction. In view of the decision of this court in I.T.A.No.121/2007 this appeal is also to be disposed of on similar terms.

3 3. With regard to the question of monetary limit to prefer an appeal, the appellant is at liberty to make an application for revival of appeal subject to the result of the decision of the Supreme Court in S.L.P.No.27468/2012.

Sd/- JUDGE

Sd/- JUDGE psg*