Ita/462/2014 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 462 OF 2014 BETWEHR 1.THR COMMISSIONER OF|INCOME TAX-IlIlC R BUILDING, QUEENS ROADBANGALORE-560 001.| 2.THER ASSISTANT COMMISSIONEROF INCOME TAX, CENTRAL CIRCLE1 (2)BANGALORE.~. APPELLANTS (BY SRI. E TSANMATHI, ADV.) AND| SRI V LAKSHMINARAYANANO.968, 17TH MAIN.14TH MAIN, BANASHANKARI IISTAGE, BANGALORE 560 070. ~ RESPONDENT (BY SRI. A SHANKAR & SRI. M LAVA, ADVS.) This ITA filed Under Sec.260-A of Income Tax Act 1961,arising out of order dated:05/06/2014 passed in ITA No.|NO.869/BANG/2010, FOR THE ASSESSMENT YEAR 2000-2001. THISITACOMING|ON,FORORDERS.THIS.VINEET SARANJ)DELIVERED THE FOLLOWING:| DAY, | JUDGMENT The Revenue has preferred this appeal challenging the|order passed by the Tribunal which has set aside the imposition ofpenalty following a judgment of this Court passed in the case ofCommissioner of Income-Tax & another -vs- ManjunathaCotton and Ginning Factory in (2013) 359 ITR 565.Therefore, we do not see any justification to interfere with theimpugned order and allow this appeal. However, it is submittedthat the Revenue has preferred an appeal before the Hon’bleSupreme Court against the said judgment of this Court and it isstill pending. In the event of the revenue succeeding in theappeal, liberty 1s reserved to the revenue to revive this appeal. | With the said observation,the appeal ts dismissed. Sd/- | JUDGE Sd/- JUDGE