Ita/154/2017 Of M/S Srinidhi Gold v. The Income Tax Officer

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 10 DAY OF FEBRUARY, 2021 PRESENT THE HON’BLE MR.JUSTICE ALOK ARADHE AND THE HON’BLE MR.JUSTICE NATARAJ RANGASWAMY I.T.A. NO.154 OF 2017 BETWEEN: M/S SRINIDHI GOLD, REP. BY ITS MANAGING PARTNER, SRI. JAGANNATH S. SHETTY, NO.1 & 2, MUNICIPAL COMPLEX, V.V.ROAD, MAHAVEER CIRCLE, MANDYA-571401. ...APPELLANT (BY SRI. A. SHANKAR, SENIOR ADVOCATE FOR SRI. M. LAVA, ADVOCATE) AND: THE INCOME TAX OFFICER, WARD-1, CAUVERY PARK ROAD, MANDYA-571401. …RESPONDENT (BY SRI. K.V.ARAVIND, ADVOCATE) THIS APPEAL IS FILED UNDER SECTION 260-A OF THE INCOME TAX ACT, 1961 ARISING OUT OF ORDER DATED 11.11.2016 PASSED IN ITA NO.494/BANG/2012, FOR THE ASSESSMENT YEAR 2008-2009 PRAYING TO; (a) FORMULATE SUBSTANTIAL QUESTION OF LAW STATED ABOVE AND ANSWER THE SAME IN FAVOUR OF THE APPELLANT. (b) TO ALLOW THE APPEAL AND SET ASIDE THE FINDINGS TO THE EXTENT AGAINST THE APPELLANT IN THE ORDER PASSED BY THE ITAT, BENGALURU ‘C’ BENCH, IN ITA NO.494/Bang/2012 DATED 11.11.2016 FOR THE ASSESSMENT YEAR 2008-2009 (ANNEXURE-A) (c) TO PASS SUCH OTHER ORDERS, AS THIS HON’BLE COURT DEEMS FIT AND PROPER TO MEET THE ENDS OF JUSTICE. THIS APPEAL COMING ON FOR HEARING THIS DAY, ALOK ARADHE, J., DELIVERED THE FOLLOWING: JUDGMENT Mr. K.V.Aravind, learned counsel for the revenue. Mr. A.Shankar, learned senior counsel for Mr. M.Lavalearned counsel for the assessee. Learned counsel for the assessee submits that the assessee has approached under the 'Vivad se Vishwas' scheme and Form 3 under the scheme has been issued. He, therefore, seeks leave of this Court to withdraw the appeal and has filed a memo in this regard. The aforesaid memo is taken on record. 2. In view of the aforesaid submission, the appeal is dismissed as withdrawn with liberty to the assessee to revive the same if occasion so arises. Sd/- JUDGE Sd/- JUDGE GH