Ita/1093/2017 Of M/S Nike India Private Ltd v. Deputy Commissioner Of Income Tax

Digitally signedby SHAKAMBARILocation: HIGHCOURT OFKARNATAKA - 1 - NC: 2025:KHC:11035-DB IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 18 DAY OF MARCH, 2025 PRESENT THE HON'BLE MR JUSTICE KRISHNA S DIXIT AND THE HON'BLE MR JUSTICE RAMACHANDRA D. HUDDAR INCOME TAX APPEAL NO. 1093 OF 2017 BETWEEN: M/S. NIKE INDIA PRIVATE LTD., NO.701, MILLENIA TOWERS, MURPHY ROAD, ULSOOR, BANGALORE-560 008. …APPELLANT (BY SRI. K.R. VASUDEVAN, ADVOCATE) AND: DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 12(2), BANGALORE. …RESPONDENT (BY SRI. JEEVAN J NEERALAGI, ADVOCATE) THIS ITA / INCOME TAX APPEAL IS FILED UNDER SEC.260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 04.08.2017 PASSED IN IT(TP)A NO. 1338/BANG/2011, FOR THE ASSESSMENT YEAR 2007-2008, VIDE ANNEXURE-A PRAYING TO A) TO FORMULATE THE SUBSTANTIAL QUESTION OF LAW AS STATED ABOVE AND ANSWER THE SAME IN FAVOR OF THE APPELLANT. THIS APPEAL, COMING ON FOR ORDERS, THIS DAY, JUDGMENT WAS DELIVERED THEREIN AS UNDER: CORAM: HON'BLE MR JUSTICE KRISHNA S DIXIT and HON'BLE MR JUSTICE RAMACHANDRA D. HUDDAR ORAL JUDGMENT (PER: HON'BLE MR JUSTICE KRISHNA S DIXIT) Learned counsel appearing for the appellant/assessee submits that the lis involved in this appeal has been settled in terms of 'Vivad Se Vishwas Scheme' and therefore, the appeal be accordingly disposed off. To this effect, he has filed a memo dated 27.02.2025 seeking leave of the Court to withdraw the appeal, which reads as under: "The Appellant submits that the above appeal was filed challenging the order dated 04.08.2017 passed by the Income Tax Appellate Tribunal in IT (TP) A No.1338/Bang/2011 for the assessment year 2007-08. The Appellant in the top noted appeal, humbly submits that it has availed the Direct Tax Vivad Se Vishwas Scheme, 2024 ('DTVSV Scheme' for short) of the Government of India and has filed the necessary application before the Respondent for the Assessment year ('AY' for short) 2007-08. The Respondent has accepted the application of the Appellant and has issued the Form 2 under the DTVSV Scheme determining the amount payable towards the full and final settlement of the tax arrear. The copy of the Form 2 issued by the Respondent is produced herewith as Annexure-1. Given the same, the Appellant does not want to pursue the subject appeal. Therefore, the Appellant seeks leave of this Hon'ble Court to withdraw the above appeal and prays that this Hon'ble Court be pleased to take the memo on record and dismiss the above appeal as withdrawn, in the interests of justice and equity". 2. The learned Panel Counsel, Shri.Jeevan J.Neeralagi has no objection for granting leave to withdraw the appeal. 3. In the above circumstances, the appeal is disposed off as having been withdrawn, in terms of the memo. Sd/- (KRISHNA S DIXIT) JUDGE Sd/- (RAMACHANDRA D. HUDDAR) JUDGE