PR COMMISSIONER OF INCOME TAX - 6 vs. M/S SHOBHA SPACE (P) LTD

1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU

DATED THIS THE 31ST DAY OF MARCH 2016

PRESENT

THE HON’BLE MR.JUSTICE JAYANT PATEL AND THE HON’BLE MRS.JUSTICE B.V.NAGARATHNA INCOME TAX APPEAL No.686/2015

C/w.

INCOME TAX APPEAL No.687/2015

IN INCOME TAX APPEAL No.686/2015

BETWEEN:

BANGALORE – 560 001

OF INCOME TAX,

CENTRAL CIRLCE-1(3),

NRUPATUNGA ROAD,

BANGALORE.

... APPELLANTS

(BY SRI.E.I.SANMATHI, ADVOCATE)

2 AND:

M/S SOBHA SPACE (P) LTD SHOBHA CORPORETE OFFICE SARJAPUR, MARATHAHALLI OUTER RING ROAD, DEVARABISANAHALLI, BEALNDUR POST, BANGALORE-103 PAN:AAICSO419G

...RESPONDENT

THIS INCOME TAX APPEAL IS FILED UNDER SEC.260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED: 29/06/2015 PASSED IN ITA NO.887/BANG/2014, FOR THE ASSESSMENT YEAR 2007-08 PRAYING TO DECIDE THE FOREGOING QUESTION OF LAW AND / OR SUCH OTHER QUESTIONS OF LAW AS MAY BE FORMULATED BY THE HON'BLE COURT AS DEEMED FIT AND SET ASIDE THE APPELLATE ORDER DATED:29/06/2015 PASSED BY THE ITAT, 'B' BENCH, BENGALURU, IN APPEAL PROCEEDINGS IN ITA NO. 887/BANG/2014 FOR ASSESSMENT YEAR 2007-08, AS SOUGHT FOR IN THIS APPEAL AND TO GRANT SUCH OTHER RELIEF AS DEEMED FIT, IN THE INTEREST OF JUSTICE.

IN INCOME TAX APPEAL No.687/2015

BETWEEN:

BANGALORE – 560 001

OF INCOME TAX,

CENTRAL CIRLCE-1(3),

NRUPATUNGA ROAD,

BANGALORE.

... APPELLANTS

(BY SRI.E.I.SANMATHI, STANDING COUNSEL)

AND:

M/S. SOBHA SPACE (P) LTD SHOBHA CORPORETE OFFICE SARJAPUR, MARATHAHALLI OUTER RING ROAD, DEVARABISANAHALLI, BEALNDUR POST, BANGALORE-103 PAN:AAICSO419G

...RESPONDENT

THIS INCOME TAX APPEAL IS FILED UNDER SEC.260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED: 29/06/2015 PASSED IN ITA NO.888/BANG/2014, FOR THE ASSESSMENT YEAR 2008-09 PRAYING TO DECIDE THE FOREGOING QUESTION OF LAW AND / OR SUCH OTHER QUESTIONS OF LAW AS MAY BE FORMULATED BY THE HON'BLE COURT AS DEEMED FIT AND SET ASIDE THE APPELLATE ORDER DATED:29/06/2015 PASSED BY THE ITAT, 'B' BENCH, BENGALURU, IN APPEAL PROCEEDINGS IN ITA NO. 888/BANG/2014 FOR ASSESSMENT YEAR 2008-09, AS SOUGHT FOR IN THIS APPEAL AND TO GRANT SUCH OTHER RELIEF AS DEEMED FIT, IN THE INTEREST OF JUSTICE.

4 THESE APPEALS COMING ON FOR ADMISSION THIS DAY, JAYANT PATEL J., DELIVERED THE FOLLOWING:

JUDGMENT

The appellant-Revenue has preferred the present appeals by raising the following substantial questions of law: “Whether under the facts and in the circumstances of the case, the Tribunal was right in law in canceling the penalty levied under Section 271(1)(c) overlooking the provisions of the Act and even when all the ingredients are satisfied for levy of penalty under section 271(1)(c) of the IT Act in the case of assessee?”

2.Learned counsel fairly concedes that the matters are covered by the decision of this Court in case of CIT vs. Manjunath Cotton & Ginning Factory 359 ITR 565.

5 cannot be said any substantial questions of law would arise for consideration.

Sd/- JUDGE

Sd/- JUDGE

Sk/-