Ita/333/2016 Of The Commissioner Of Income Tax v. M/S Canara Bank

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE J2ZND DAY OF NOVEMBER 202 PRESENT| THE HON’BLE MR. JUSTICE ALOK ARADHE AND| THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASAD BETWEEN: LT.A. NCO.333 OF 2016 1.|THE COMMISSIONER OF INCOME-TA® LTU, JSS TOWERS BSK III STAGE, BANGALORE-560085. 2.|THE ADDL. COMMISSIONER OF INCOME-TAX LTU, JSS TOWERS BSK III STAGE, BANGALORE-560085. .., APPELLANTS~ (BY SRI. K.V. ARAVIND, ADV.,) AND* M/S. CANARA BANK112, J.C. ROAD|BANGALORE.PAN: AAACC 6106G., (BY SRI. T. SURYANARAYANA, ADV.) ~. RESPONDENT THIS ITA IS FILED UNDER SECTION 260-A OF I.T. ACT,|1961 ARISING OUT OF ORDER DATED 11.12.2015 PASSED IN ITA.NO.766/BANG/2011 FOR THE ASSESSMENT YEAR 1996-97,PRAYING TQ: (1) FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW.STATED ABOVE. (II) ALLOW THE APPEAL AND SET ASIDE THE ORDERS.PASSED BY THE ITAT, BANGALORE IN ITA NO.766/BANG/2011—DATED 11-12-2015 AND CONFIRM THE ORDER OF THE APPELLATE.COMMISSIONER CONFIRMING THE ORDER PASSED BY THE ADDL. COMMISSIONER OF INCOME TAX, LTU, BANGALORE & ETC. THIS ITA COMING ON FOR FINAL HEARING, THIS DAY,ALOK ARADHE J.,DELIVERED THE FOLLOWING: | JUDGMENT This appeal under Section 260A of the Income TaxAct, 1961 (nereinafter referred to as the Act for short)Nas been preferred by the revenue. The subject matterof the appeal pertains to the Assessment year 1996-97.The appeal was admitted by a bench of this Court videorder dated 10.10.2017 on the following substantial|question of law: Whether the Tripunal was correct [n\holding that denial of opportunity of cross-examination results in violation of natural|justice, despite efforts made by the assessing|officer to trace the assessee? The object of |cross examination ts to test the veracity ofversion given in examination-in-chief? In theinstance case, when it is proved with fair.marketamount.certaintythatlCAaSedequipments did not exit, whether allowing| cross-examination would nave made any:difference? 2.|For the reasons assigned by us today inI.T.A.No.332/2016, the substantial question of lawframed in the appeal is answered against the revenueand in favour of the assessee. In the result, we do notfind any merit in this appeal, the same failS and ishereby dismissed. Sd/-JUDGE. SS| Sd/-JUDGE.