By Sri Y v. Raviraj For Sri Aravind K. V., Advocate

Date of Judgment 06.02.2017 I.T.A. 659/2015The Commissioner Of Income Taxvs.M/s. Suprabhat Credit Souharda Sahakari Ltd., IN THE HIGH COURT OF KARNATAKADHARWAD BENCH DATED THIS THE 6 DAY OF FEBRUARY 2017 PRESENT THE HON’BLE DR. JUSTICE VINEET KOTHARI AND THE HON’BLE MR. JUSTICE SREENIVAS HARISHKUMAR INCOME TAX APPEAL No.659/2015 BETWEEN: 1.THE COMMISSIONER OF INCOME TAXC. R. BUILDING, ATTAVARA,MANGALORE-575 001.C. R. BUILDING, ATTAVARA,MANGALORE-575 001. 2.THE INCOME TAX OFFICERWARD-2,SANTERI KRUPA BUILDING,KAIGA ROAD, HABBUWADA,KARWAR-581 306.WARD-2,SANTERI KRUPA BUILDING,KAIGA ROAD, HABBUWADA,KARWAR-581 306. ... APPELLANTS (BY SRI Y. V. RAVIRAJ FOR SRI ARAVIND K. V., ADVOCATE) AND : M/S. SUPRABHAT CREDITSOUHARDA SAHAKARI LTD.,JAI HIND LODGE ROAD,ANKOLA,PAN NO. AABAS 7089M. ... RESPONDENT Date of Judgment 06.02.2017 I.T.A. 659/2015The Commissioner Of Income Tax vs.M/s. Suprabhat Credit Souharda Sahakari Ltd., THIS APPEAL IS FILED UNDER SECTION 260A OFTHE INCOME TAX ACT, 1961, PRAYING TO FORMULATETHE SUBSTANTIAL QUESTIONS OF LAW, AS STATEDABOVE, TO ALLOW THE APPEAL AND TO SET ASIDE THEORDERS PASSED BY THE INCOME TAX APPELLATETRIBUNAL, PANAJI, IN ITA NO.52/PNJ/2015 DATED16.07.2015 CONFIRMING THE ORDER OF THE APPELLATECOMMISSIONER AND THE ORDER PASSED BY THEINCOME TAX OFFICER, WARD-2, KARWAR. THIS APPEAL COMING ON FOR ADMISSION THISDAY, Dr. VINEET KOTHARI, J., DELIVERED THEFOLLOWING: J U D G M E N T Mr. Y. V. Raviraj, Adv. for appellant. 1.Learned counsel for the Revenue has fairlysubmitted before this Court that the similar Income TaxAppeals, involving identical issue, have been disposed ofby the Co-ordinate Bench of this Court and one suchorder is placed before us, on 19.01.2016 in I.T.A.No.100005/2016 (The Principal Commissioner of IncomeTax vs. Shri Mahatma Basaveshwar Co-operative CreditSociety Limited), in which the Co-ordinate Bench of thisCourt held as under : Date of Judgment 06.02.2017 I.T.A. 659/2015The Commissioner Of Income Tax vs. M/s. Suprabhat Credit Souharda Sahakari Ltd., “ The learned counsel for the appellantssubmits that this appeal is covered by thedecision of this Court in I.T.A.No.100173/2015disposed of on 05.01.2016. He further submitsthat since notice is not issued to the respondentin this case also, liberty to move this Court torevive this appeal subject to decision of theHon’ble Supreme Court in the SLPs filed by theRevenue may be reserved in like terms as inI.T.A.No.100173/2015. 2. In I.T.A.No.100173/2015, it wassubmitted by the appellants – Revenue that ithas taken up the issue involved in the saidappeal in an SLP before the Hon’ble SupremeCourt and accordingly, a prayer was made togrant liberty to revive the said appeal in theevent Revenue succeeded before the Hon’bleSupreme Court. After considering the saidsubmissions, the said appeal was disposed ofby holding thus: “7. At this juncture, the learnedcounsel for the Revenue submitted thatthe issue involved in this appeal hasbeen taken up in a Special LeavePetition and the same is pendingadjudication before the Hon’ble ApexCourt. On this premise, he prays forliberty to revive this appeal in the Date of Judgment 06.02.2017 I.T.A. 659/2015The Commissioner Of Income Tax vs. M/s. Suprabhat Credit Souharda Sahakari Ltd., event of the Revenue succeeding in theappeal/s filed before the Apex Court. 8.Having noticed that theissue involved in this appeal isidentical to the issue in ITA100080/2014, we have held that thisappeal lacks merit and deserves to berejected without notice to therespondent. However, this decisionshall be binding inter party even if theRevenue succeeds before the ApexCourt. Therefore, we consider that therequest made by the Revenue seekingleave to revive this appeal asreasonable. 9.In the result, the appealstands dismissed with liberty to theRevenue to revive this appeal in theevent, Revenue succeeds in the SLPfiled before the Apex Court on thesame issue. No costs.” Date of Judgment 06.02.2017 I.T.A. 659/2015The Commissioner Of Income Tax vs. M/s. Suprabhat Credit Souharda Sahakari Ltd., event of the Revenue succeeding in theappeal/s filed before the Apex Court. 8.Having noticed that theissue involved in this appeal isidentical to the issue in ITA100080/2014, we have held that thisappeal lacks merit and deserves to berejected without notice to therespondent. However, this decisionshall be binding inter party even if theRevenue succeeds before the ApexCourt. Therefore, we consider that therequest made by the Revenue seekingleave to revive this appeal asreasonable. 9.In the result, the appealstands dismissed with liberty to theRevenue to revive this appeal in theevent, Revenue succeeds in the SLPfiled before the Apex Court on thesame issue. No costs.” 3. Accordingly, recording the submissionof the learned counsel for the appellants thisappeal also stands dismissed with libertycontained in I.T.A. No.100173/2015 as extractedhereinabove. Ordered accordingly. 2.Learned counsel for the appellant – Revenuesubmitted further that in case the appeal pending before Date of Judgment 06.02.2017 I.T.A. 659/2015The Commissioner Of Income Taxvs.M/s. Suprabhat Credit Souharda Sahakari Ltd.,the Hon’ble Supreme Court is decided in favour of theRevenue, they may be given liberty to revive the saidissue before this Court. Accordingly, with the aforesaidliberty given to the Revenue, we dispose of the presentappeal in the same terms. Sd/-JUDGE Sd/-JUDGE hnm