Ita/100039/2016 Of The Principal Commissioner Of Income Tax v. Shri. Basaweshwar Co-Op Credit Society Ltd

IN THE HIGH COURT OF KARNATAKA, DHARWAD BENCH DATED THIS THE 26 DAY OF SEPTEMBER, 2016 PRESENT THE HON’BLE MR. JUSTICE ASHOK B. HINCHIGERI ANI THE HON’BLE MR. JUSTICE P.S. DINESH KUMAR L.T.A. No.100039/2016 BETWEEN: 1,The Principal Commissioner of Income Tax,Dr. B.R. Ambedkar Road, Belagav1 |The Income Tax Officer, Nipani, Dist: Belagav1. — ... Appellants (By Sri Y.V. Raviraj, Advocate) AND) Shri Basaweshwar Co-op Credit Society Ltd.,Somwar Peth, Chikkodt,Dist. Belagavi.... Respondent (By Sri Sangram S. Kulkarni, Advocate) This LT.A. is filed under Section 260A of the Income Tax Act,1961 praying to formulate the substantial question of law statedabove, allow the appeal and set aside the orders passed by the IncomeTax|AppellateTribunal,Panaji.Bench,Panayjtin|ITANo.301/PNJ/2015 dated 5.10.2015 and confirm the order passed bythe Income Tax Officer, Nipani, in the interest of justice and equity. This I-T.A. coming on for admission this day,P.S. DineshKumar J,delivered the following: JUDGMENT Sti Sangram S. Kulkarni, learned counsel accepts notice forrespondent. 2. Sri Y.V. Raviraj, learned counsel for the Revenue and SriSaneram S. Kulkarni, learned counsel for the respondent makea jointsubmission that the issue involved in this appeal is covered by thejudement of this Court in I.T.A.No.100029/2015. Their submission isplaced on record. 3. Resultantly, this appeal is dismissed making it clear that theparties shall be bound by the judgment of the Hon’ble Supreme Courtin the SLPs said to have been filed by the Revenue on the question oflaw raised 1n this appeal, Sd/-JUDGE Sd/-JUDGE