Ita/463/2014 Of The Commissioner Of Income Tax-Iii v. Sri V Lakshminarayana

IN THE HIGH COURT OF KARNATAKA AT BENGALURU| DATED THIS THE 6 DAY OK MARCH 2015| PRESENT THE HON'BLE MR. JUSTICE VINEET SARAN AND, THE HON’BLE MRS. JUSTICE S.SUJATHA ITA NO 463 OF 2014 BEIWERE 1.THR COMMISSIONER OF|INCOME TAX-IILCR BULLDING.QUEENS ROAD,BANGALORE, - 560 O01 2.THER ASSISTANT COMMISSIONEROF INCOME TAXCENTRAL CIRCLE 1(2)BANGALORE.~. APPELLANTS (BY SRI. FE TSANMATHI, ADV. ), AND SRI V LAKSHMINARAY ANANO.968, 17 MAIN.14[‘T]MAIN,BANASHANKARI ILSTAGE, 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 outof otder dated:05/06/2014 passed in ITA No.870/Bang/2010, for the|Assessment Year 2001-02. THIS TTA COMING ON FOR ORDERS THIS DAY, VINEET SARANJ.DEBLIVBERED THR KFOLLOWING JUDGMENT The Revenue has preferred this appeal challenging the|otder 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 is dismissed. TL Sd/- JUDGE Sd/-| JUDGE