Ita/461/2014 Of The Commissioner Of Income Tax-Iii v. Sri V Lakshminarayana

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 6 DAY OF MARCH 2015) PRESENT THE HON'BLE MR. JUSTICE VINEET SARAN AND| THE HON’BLE MRS. JUSTICE S.SUJATHA ITA NO 461 OF 2014 BETWEEN| 1.THE COMMISSIONER ©OK INCOME TAX-IIL|CR BUILDING, QUEENS ROADBANGAIORE-5600012?THE ASSISTANT COMMISSIONER ©OK INCOME TAX!CENTRAL CIRCLE 1 (2)BANGALORE... APPELLANTS(BY SRI. EILSANMATHI, ADV.) AND| 1.SRIV LAKSHMINARAYANANO. 968, 17 MAIN.14 MAIN, BANASHANKARI-ITSTAGE, BANGALORE-560070... RESPONDENT|(BY SRI. A SHANKAR & SRI. M. LAVA, ADVS.) This ITA 1s filed Under Sec.260-A of Income Tax Act1961, arising out of order dated:05/06/2014 passed in ITANo.868/Bang/2010, for the Assessment Year 1998-99. THIS ITA COMING ON FOR ORDERS THIS DAY, |VINEET SARANJ)DRBLELIVEBERED THER KFOLLO JUDGMENT The revenue has preferred this appeal challenging the| ofder passed by the Tribunal which has set aside theimposition of penalty following a judgment of this Court passed in the case of|Commissioner of Income-Tax & another -vs- Manjunatha Cotton and Ginning Factory in (2013) 359 ITR 565.Therefore, we do not see anyjustification to interfere with the impugned order and allowthis appeal. However, it is submitted that the Revenue haspreferred an appeal before the Hon’ble Supreme Courtagainst the said judgement of this Court and it is still pending. In the event of the revenue succeeding in the appeal, liberty 1s resetved to the revenue to revive this appeal. With the said observation,the appeal is dismissed. — Sd/-JUDGESd/-|JUDGETL