Ita/468/2014 Of The Commissioner Of Income Tax-Iii v. Sri K Prakash Shetty

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 468 OF 2014 BETWEEN| 1.THE COMMISSIONER OFINCOME TAX-IILLINCOME TAX-IILL CR BUILDING, QUEENS ROAD BANGALORE-560 O01. 2THE ASSISTANT COMMISSIONEROK INCOME TAX!OK INCOME TAX! CENTRAL CIRCLE 1 (3), BANGALORE. .. APPELLANTS (BY SRL EITSANMATHI, ADV..,) AND| SRI K PRAKASH SHETTY.NO. 9, ALI ASKAR ROADCUNNINGHAM ROAD CROSSBANGALORE, PAN: .. — RESPONDENT (BY SRI. A SHANKAR & SRI. M LAVA, ADVS.) This ITA is filed Under Sec.260-A of Income Jax Act 1961,arisingOUTof.orderdated:05/06/2014passed|in.ITANo.265/Bang/2014, for the Assessment Year 2006-07. THIS ITA COMING ON FOR ORDERS THIS DAY, |VINEET SARANJ)DRBLELIVEBERED THER KFOLLO 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- Manjunatha Cotton 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/-.