Ita/146/2010 Of The Commissioner Of Income Tax v. Deepak Cables (I) Ltd

IN THE HIGH COURT OF KARNATAKA AT BENGALURUDATED THIS THE 13 DAY OF OCTOBER 2020 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND| THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASAD 1LT.A. NO.146 OF 2010 BEI|WEEN 1.THE COMMISSIONER OF INCOME-TAX C.R. BUILDING, QUEENS ROAD BANGALORE. 2).THE DY. COMMISSIONER OF INCOME-TAX| CENTRAL CIRCLE-2(1) C.R. BUILDING, QUEENS ROAD BANGALORE. _.. APPELLANTS (BY SRI. K.V. ARAVIND, ADV.) AND DEEPAK CABLES (I) LTD.,NO.313, EMBASSY CENTRE,3 FLOOR, CRESCENT ROADBANGALORE. | ~.. RESPONDENT| (RESPONDENT SERVED) THIS IJ§.T.A. IS FILED UNDER SECTION 260-A OI.L.T.ACT, 1961, ARISING OUT OF ORDER DATED 27-11-200 PASSED IN ITA NO.692/BANG/2008, FOR THE ASSESSMENTYEAR 2004-05, PRAYING TO: I. FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW|STATED THEREIN.» I]. ALLOW THE APPEAL AND SET ASIDE THE ORDERS|PASSED|BYTHE|ITAT,.BANGALOREIN|ITANO.692/BANG/2008, DATED 27-11-2009, CONFIRMING THE.ORDER OF THE APPELLATE COMMISSIONER AND CONFIRM|THE ORDER PASSED BY THE DEPUTY COMMISSIONER OF|INCOME TAX, CENTRAL CIRCLE-2(1), BANGALORE. THIS I.T.A. COMING ON FOR FINAL HEARING, THISDAY,ALOK ARADHE J.,DELIVERED THE FOLLOWING: JUDGMENT Mr.K.V.Aravind, learned counsel for the revenue. 2. This appeal under Section 260-A of the Income|Tax Act, 1961 (hereinafter referred to as ‘the Act’, forshort) has been preferred by the revenue. The subjectmatter of the appeal pertains to the Assessment Year2004-05. The appeal was admitted by a Bench of thisCourt vide order dated 08.11.2011 on the followingsubstantial questions of law: 1. WhethertheAppellate|Authorities were correct in not taking intoconsideration the meaterial detected in theCOUTSCofSUFVEY|dated09-03-7004 (during AY 2001-02) that the Tumkurunit manufacturing electrical cables hadcommenced 20 years earlier and it wasnot a new unit as per section 80IA of theAct,WHIChWasconfirmed.Dy Mr.Subramanyam, Mr. Venkateshwara Raoin the statement recorded u/s. 131 of theAct and the withdrawal of claim u/s80IAoftheActDy theadSSCSSCEand|consequentlyrecordedadDerversefinding? 2. Whether the assessee /[s entitledto claim deduction u/s.80IA of the Act, inrespect of old unit situated at Tumkur,manufacturing electrical cables, whichclaim was not considered by taking intoaccount the entire evidence recorded bythe Assessing Officer? 3. Whether the finding recorded|that the revised return having beenwithdrawn the assessment order cannotbe sustained is correct? 3. When the matter was taken up today, learned| counsel for the revenue submitted that the aforesaid| substantial questions of law which are involved in thisappeal have already been answered in favour of therevenue by a Bench of this Court by order dated03.06.2014 passed in ITA No.205/2008. 4 In view of the aforesaid submission and for the.reasons assigned in the order dated 03.06.2014 passedin ITA No.205/2008, the substantial questions of lawframed in this appeal are answered in favour of therevenue. 5. In the result, the order passed by the Income|Tax Appellate Tribunal is hereby quashed and the order passed by the Assessing Authority is restored. Accordingly, the appeal is disposed of. RV| Sd/-JUDGE Sd/-"JUDGE