Ita/296/2019 Of M/S Presidency Builders v. The Assistant Commissioner Of Income Tax

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 26 DAY OF OCTOBER, 2021 PRESENT THE HON’BLE MRS. JUSTICE S. SUJATHA AND THE HON’BLE MR. JUSTICE E.S. INDIRESH I.T.A. NO.296/2021 BETWEEN: M/S PRESIDENCY BUILDERS AND DEVELOPERS, REP. BY ITS PARTNER HYDER ALI K PRESIDENCY ZONE -1, BASEMENT FLOOR, BENDOORWELL MANGALURU - 575 002 PAN: AAGFP 7881 A (BY SRI A SHANKAR, SENIOR COUNSEL A/W SRI BHAIRAV KUTTAIAH, ADVOCATE) …APPELLANT AND: THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE - 2(1) C.R.BUILDING ANNEXE, ATTAVAR MANGALURU - 575 001. … RESPONDENT (BY SRI SANMATHI E I., ADVOCATE) THIS APPEAL IS FILED UNDER SECTION 260A OF THE INCOME-TAX ACT, 1961, ARISING OUT OF ORDER DATED 05.12.2018 PASSED IN ITA NOS. 825 AND 827/Bang/2014 FOR THE ASSESSMENT YEAR 2008-09 AND 2010-11. THIS APPEAL COMING ON FOR HEARING, THIS DAY, S.SUJATHA J., DELIVERED THE FOLLOWING: JUDGMENT Learned counsel for the assessee has filed a memo dated 26.10.2021 for withdrawal of the appeal relating to the Assessment Years 2008-09 and 2010- 11. The said memo reads as under: 1.“ The above named appellant has filed Income Tax Appeals under Section 260A of the Income Tax Act, 1961, challenging the orders passed by the Income Tax Appellate Tribunal, Bangalore Bench for the Assessment Years 2008-09 and 2010-11. Tax Appeals under Section 260A of the Income Tax Act, 1961, challenging the orders passed by the Income Tax Appellate Tribunal, Bangalore Bench for the Assessment Years 2008-09 and 2010-11. 2.The Appellant filed Form-1 and Form-2 for declaration and undertaking for paying taxes on disputed income under the scheme named The Direct Vivad Se Vishwas Act, 2020 for the Assessment Years 2008-09 and 2010-11. declaration and undertaking for paying taxes on disputed income under the scheme named The Direct Vivad Se Vishwas Act, 2020 for the Assessment Years 2008-09 and 2010-11. 3.Thereafter, the Principal Commissioner of Income Tax, Panaji issued Form-3 certificates under sub-section (1) of Section 5 of the Direct Tax Vivad Se Viswas Act, 2020 dated 15.06.2021, after verifying Form-1 and Form-2. Copies of the Form-3 is enclosed herewith for the Hon’ble Court’s reference and records. Income Tax, Panaji issued Form-3 certificates under sub-section (1) of Section 5 of the Direct Tax Vivad Se Viswas Act, 2020 dated 15.06.2021, after verifying Form-1 and Form-2. Copies of the Form-3 is enclosed herewith for the Hon’ble Court’s reference and records. 4.Wherefore, in view of the above submissions the Appellant humbly prays this Hon’ble Court may pleased to permit the Appellant to withdraw the above Income Tax Appeals with liberty to revive, in case, if the dispute is not settled under the scheme the Direct Tax Vivad se Vishwas Act, 2020 in the interest of justice and equity.” the Appellant humbly prays this Hon’ble Court may pleased to permit the Appellant to withdraw the above Income Tax Appeals with liberty to revive, in case, if the dispute is not settled under the scheme the Direct Tax Vivad se Vishwas Act, 2020 in the interest of justice and equity.” Memo is placed on record. Accordingly, the appeal is disposed of as withdrawn in terms of the memo. Sd/- JUDGE Sd/- JUDGE