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Ita/6/2007 Of The Commissioner Of Income Tax v. M/S C M Finance & Leasing Private Ltd

High Court 12 Sep 2012 In favour of: Assessee

Forum / Bench

High Court · karnataka_bng_old

Parties

Date of order

12 Sep 2012

Assessment year(s)

2001-02, 2000-01

Outcome

Dismissed

The order — as passed by the High Court

Case summary

In Ita/6/2007 Of The Commissioner Of Income Tax v. M/S C M Finance & Leasing Private Ltd, the High Court (2012) dismissed the appeal. The decision went in favour of the assessee.

Summary auto-generated from the order below — read the full judgment for the complete reasoning.

IN THE HIGH COURT OF KARNATAKA, BANGALORE DATED THIS THR 12 DAY OF SEPTEMBER, 2012 PRESENT THR HON BLE MR. JUSTICE K.SREEDHAR RAO ANT THR HON'BLE MR. JUSTICK B.MANOHAR 1.T.A. No.6 OF 2007C/W. I.T.A. No.7 OF 2007 1.T.A. No.6 OF 20Q07mBETWEEN: 1.The Commissioner of Income Tax,No.590/1, ShilpashreeVidhyaranya Complex,Vishveshwaranagar,Mysore.No.590/1, ShilpashreeVidhyaranya Complex,Vishveshwaranagar,Mysore. 2.The Assistant Commissioner of Income Tax,Circle-1(2),No.990/1, ShilpashreeVidhyaranya Complex,Vishveshwaranagar,Mysore.Circle-1(2),No.990/1, ShilpashreeVidhyaranya Complex,Vishveshwaranagar,Mysore. (By Sri Sanmathi Indrakumar, Advocate) Appellants AND: M/s.C.M. Finance & Leasing Pvt. Ltd..Kothwal Ramaiah Street, Mysore. (By Sri A. Shankar, Advocate) Respondent This I.T.A. is filed U/s.260-A of I.T. Act, 1961 arisingOUTOT Order|dated21.07.2006passed$&I.T.A.No.1337/Bang/2005 for the Assessment Year 2001-02,praying that this Hon’ble Court may be pleased to(i) formulate the substantial questions of law stated thereinand (11) allow the appeal and set-aside the order of the ITAT,Bangalore in ITA No.1337/Bang/2005 dated 21.07.2006 andconfirm the order of the Appellate Commissioner confirmingthe order passed by the Asst. Commissioner of Income Tax,Circle-1(2), Mysore, in the interest of justice and equity. ].T.A. No.7 OF 2007:m BBRITIWE 1.The Commissioner of Income Tax,No.959/1, ShilpashreeVidhyaranya Complex,Vishveshwaranagar,Mysore. 2.The Assistant Commissioner of Income Tax,Circle-1(2), No.959/1, Shilpashree Vidhyaranya Complex,Vishveshwaranagar,Mysore. (By Sri Sanmathi Indrakumar, Advocate) Appellants AND: M/s.C.M. Finance & Leasing Pvt. Ltd..Kothwal Ramaiah Street,Mysore. (By Sri A. Shankar & Sri M. Lava, Advocates) Respondent This I.T.A. is filed U/s.260-A of I.T. Act, 1961 arisingOUT|OT|orderdated21.07.2006passed$&I.T.A.No.1336/Bang/2005 for the Assessment Year 2000-01,praying that this Hon’ble Court may be pleased to(i) formulate the substantial questions of law stated thereinand (11) allow the appeal and set-aside the order of the ITAT,Bangalore in ITA No.1336/Bang/2005 dated 21.07.2006 andconfirm the order of the Appellate Commissioner confirmingthe order passed by the Asst. Commissioner of Income Tax,Circle-1(2), Mysore, in the interest of justice and equity. These appeals are coming on for final hearing this day,SREEDHAR RAO, J.,delivered the following: JU DBGMENT In both the appeals, the monetary limit is less thanone lakh. In view of Circular No.2/05 and the decision of thisCourt in ITA No.907/2006 decided on 20.09.2011, theappeals are dismissed. od/-JUDGE NM* od/-JUDGE

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