Ita/272/2019 Of Tool And Gauge v. Income Tax Officer

Digitally signed bySHAKAMBARILocation: HIGHCOURT OFKARNATAKA NC: 2025:KHC:9316-DBITA No. 272 of 2019 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 5 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. 272 OF 2019 BETWEEN: TOOL AND GAUGE MANUFACTURERS ASSOCIATION OF INDIA 23/24, II PHASE, PEENYA INDUSTRIAL AREA, BANGALORE-560 052, REPRESENTED HEREIN BY ITS SECRETARY MR. ASHOK SHETTY M. …APPELLANT (BY SRI. TANMAYEE RAJKUMAR, ADVOCATE) AND: 1. INCOME-TAX OFFICER ITO (EXEMPTIONS) WARD-2, BMTC BUILDING, 80 FT ROAD KORAMANGALA, 6 BLOCK, BANGALORE-560 095. 2. PRINCIPAL COMMISSIONER OF INCOME TAX-1 BMTC BUILDING, 80 FT ROAD, KORAMANGALA, 6 BLOCK, BANGALORE-560 095 …RESPONDENTS (BY SRI. E.I. SANMATHI, ADVOCATE) THIS ITA / INCOME TAX APPEAL IS FILED UNDER SEC.260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 16.11.2018 PASSED IN ITA NO.2864/BANG/2017, FOR THE ASSESSMENT YEAR 2012-2013, PRAYING TO 1. FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW AS STATED ABOVE; - 2 - 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 for the appellant has filed a memo dated 28.02.2025 seeking leave of this Court to withdraw the appeal. Memo reads as under: "The Advocate for the Appellant submits that the above appeal was filed challenging the order dated 16.11.2018 passed by the Income Tax Appellate Tribunal in ITA No.2864/BANG/2017 for the assessment year 2012-13. It is submitted that the Appellant wishes to resolve the dispute under the provisions of the Direct Tax Vivad Se Vishwas Scheme, 2024 ("the Scheme") and in this regard has filed the relevant declaration. Pursuant to the declaration filed by the Appellant, the Income-tax Department has issued Form-2 under the Finance (No.2) Act, 2024 wherein the final payable as per the said Scheme has been determined. Subsequently, the Appellant has duly remitted the same and filed Form-3 before the Jurisdictional Assessing officer. Therefore, it is pertinent to note that the full and final settlement has been made by the Appellant. In view of the above, an in terms of Section 91(3) of the Finance (No.2) Act, 2024, the Appellant most humbly seeks leave of this Hon'ble Court to withdraw the appeal. It is prayed that liberty may be reserved with the Appellant to seek restoration of the appeal, in the event that the application under the Scheme does not proceed or is not finalized successfully. Wherefore, it is most humbly prayed that this Hon'ble Court may be pleased to permit the Appellant to withdraw the appeal, in the interests of justice and equity". 2. There is no objection from the Panel Counsel appearing for the Revenue to grant leave to withdraw the appeal. 3. In view of the above, appeal is disposed off as having been withdrawn, in terms of the memo. Cost made easy. Sd/- (KRISHNA S DIXIT) JUDGE Sd/- (RAMACHANDRA D. HUDDAR) JUDGE DH List No.: 1 Sl No.: 2 CT:SNN