THE PR COMMISSIONER OF INCOME TAX CIT(A) vs. M/S ATRIA POWER CORPORATION LTD

1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 16TH DAY OF AUGUST, 2021 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE HEMANT CHANDANGOUDAR ITA NO.865 OF 2018 BETWEEN: 1. THE PR. COMMISSIONER

OF INCOME TAX, CIT (A)

5TH FLOOR, BMTC BUILDING,

80 FEET ROAD,

KORMANGALA,

BENGALURU-560095. 2. THE INCOME TAX OFFICER,

WARD-1(1)(2), PRESENT ADDRESS

THE ASST/DEPUTY COMMISSIONER

OF INCOME TAX,

CIRCLE-1(1)(1),

2ND FLOOR, BMTC BUILDING,

80 FEET ROAD,

KORMANGALA,

BENGALURU-560095. ... APPELLANTS (BY SRI K.V.ARAVIND, ADVOCATE) AND: M/S ATRIA POWER CORPORATION LTD., #11, COMMISERATE ROAD, BENGALURU-560025, PAN:AABCA1880E. ... RESPONDENT (BY SRI SHANKAR A, SENIOR COUNSEL FOR SRI V CHANDRASHEKAR, ADVOCATE)

2 THIS ITA IS FILED UNDER SECTION 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 06.07.2018 PASSED IN ITA NO.533/BANG/2018, FOR THE ASSESSMENT YEAR 2011-2012, PRAYING TO: (i) FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW STATED ABOVE. (ii) ALLOW THE APPEAL AND SET ASIDE THE ORDER PASSED BY THE INCOME-TAX APPELLATE TRIBUNAL, BENGALURU IN ITA NO.533/BANG/2018 DATED:06.07.2018 FOR THE ASSESSMENT YEAR 2011-2012 ANNEXURE-C CONFIRMING THE ORDER OF THE APPELLATE COMMISSIONER AND CONFIRM THE ORDER PASSED BY THE ASST./ DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1(1)(1), BENGALURU AND ETC., THIS ITA COMING ON FOR HEARING, THIS DAY, ALOK ARADHE J., DELIVERED THE FOLLOWING: JUDGMENT Mr. K.V. Aravind, learned counsel for the revenue. Mr. A.Shankar, learned senior counsel for Shree V.Chandrashekar learned counsel for the assessee. This appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the Act for short) has been preferred by the revenue against the order dated 6.7.2018 passed by the Income-Tax Appellate Tribunal, Bengaluru in ITA No.533/Bang/2018. The subject matter of the appeal pertains to the Assessment year 2011-12. The appeal was admitted by a bench of this Court vide order dated 25.03.2019 on the following

3 substantial question of law: "Whether on the facts and circumstances of the case and in law, the Tribunal is right in law in holding that provisions of Section 115JB not be applicable to the assessee Company even when assessing authority rightly invoked the said provision as the tax payable under the normal provisions was lesser when compared to tax payable on the book profit under Section 15JB of the Act?" 2. When the matter was taken up today, the learned counsel for the assessee submitted that aforesaid substantial question of law involved in this appeal has already been answered in favour of the assessee by this Court vide judgment dated 16.01.2020 in the case of COMMISSIONER OF INCOME-TAX, BANGALORE Vs. ING VYSYA BANK LTD reported in [2020] 114 TAXMANN.COM 506 (KARNATAKA) in favour of the assessee and against the revenue.