THE COMMISSIONER OF INCOME TAX vs. SRI A VASU,

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ITA/814/2007HC KarnatakaKAHC01058087200713 August 2012Bench: B.MANOHAR,K.SREEDHAR RAO3 pages
AI SummaryAllowed

What did the High Court hold?

The High Court, following a Supreme Court decision in CIT vs. Suresh N. Gupta, answered the question of law in favor of the revenue. Consequently, the appeals filed by the Income Tax Department were allowed.

What were the facts?

The appeals were filed by the Income Tax Department against orders of the ITAT that had confirmed the orders of the Appellate Commissioner. The ITAT's orders were in favor of the assessees, Sri A. Vasu and M/s. Subash Sarees.

What were the issues?

The core issue revolved around a substantial question of law that was decided in favor of the revenue based on a precedent set by the Supreme Court.

Which sections of the Income-tax Act were involved?

Section 260-A

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Cases cited in this judgment(1)Show list

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1 IN THE HIGH COURT OF KARNATAKA, BANGALORE DATED THIS THE 13TH 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.814/2007 C/W. I.T.A. No.892/2007 I.T.A. No.814/2007:- BETWEEN:- 1. The Commissioner of Income Tax, C.R. Building, Queens Road, Bangalore. 2. The Assistant Commissioner of Income Tax, Central Circle – 1(2), C.R. Building, Queens Road, Bangalore. Appellants (By Sri K.V. Aravind, Advocate) AND:- Sri A. Vasu, No.631, 11th Main, 1st Block, 3rd Stage, Basaveshwaranagar, Bangalore. Respondent (Served)

2 This I.T.A. is filed U/s.260-A of I.T. Act, 1961 arising out of Order dated 22.06.2007 passed in IT(SS)A No.27/Bang/2006 for the Block Assessment Period 01-04- 1989 to 19-02-2001, praying that for the reasons stated therein 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 IT(SS)A No.27/Bang/2006 dated 22.06.2007 confirming the order of the Appellate Commissioner and confirm the order passed by the Asst. Commissioner of Income Tax, Central Circle-1(2), Bangalore, in the interest of justice and equity. I.T.A. No.892/2007:- BETWEEN:- 1. The Commissioner of Income Tax, C.R. Building, Queens Road, Bangalore. 2. The Assistant Commissioner of Income Tax, Central Circle – 1(2), C.R. Building, Queens Road, Bangalore. Appellants (By Sri K.V. Aravind, Advocate) AND:- M/s. Subash Sarees, No.42-46, II Floor, F.S. Complex, 12, Ramannapet, J.M. Road Cross, Bangalore. Respondent

3 This I.T.A. is filed U/s.260-A of I.T. Act, 1961 arising out of Order dated 06.07.2007 passed in IT(SS)A No.30/Bang/2005 for the Block Assessment Period 01-04- 1996 to 9-5-2002, praying that for the reasons stated therein 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 IT(SS)A No.30/Bang/2005 dated 06.07.2007 confirming the order of the Appellate Commissioner and confirm the order passed by the Asst. Commissioner of Income Tax, Central Circle-1(2), Bangalore, in the interest of justice and equity. These appeals are coming on for final hearing this day, SREEDHAR RAO, J., delivered the following: J U D G M E N T In view of decision of Supreme Court in the case of Commissioner of Income Tax Vs. Suresh N. Gupta reported in (2008) 297 ITR 322 (SC), the question of law is answered in favour of revenue. Accordingly, the appeals are allowed. Sd/- JUDGE Sd/- JUDGE NM*

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