Ita/626/2013 Of Commissioner Of Income Tax-Iii v. M/S. Tata Elexsi Ltd

IN THE HIGH COURT OF KARNATAKA AT BANGALORE. DATED THIS THE 25[th]DAY OF APRIL 2014. PRESENT THE HON‘'BLE MR. JUSTICE DILIP B BHOSALE AND| THE HON‘'BLE MR. JUSTICE B MANOHAR ITA.NO.626/ 2013 BETWEEN 1.COMMISSIONER OF INCOME TAX-IILCENTRAL REVENUE BUILDINGSCENTRAL REVENUE BUILDINGS QUEENS ROAD.BANGALORE-560001BANGALORE-560001 2.THE ASSISTANT COMMISSIONER OF INCOME TAX|CIRCLE 12 (4)CIRCLE 12 (4) BANGALORE ... APPELLANTS (BY SRI EI SANMATHI, ADV.,) AND M/S. TATA ELEXSI LTDITPB ROAD, HOODY|WHITEFILED ROADBANGALORE-560048 ... RESPONDENT | (BY SRI S SHARATH, ADV., FOR SRI CHYTHANYA K K, ADV.,) THIS ITA FILED UNDER SEC.260-A OF INCOME TAX ACT 1961,ARISING OUT OF ORDER DATED 05/07/2013 PASSED IN ITANO.1536/BANG/2012,FOR|THE)ASSESSMENT.YEAR2008-039,PRAYING TO: 1. DECIDE THE FOREGOING QUESTION OF LAW AND /OR SUCH OTHER QUESTIONS OF LAW AS MAY BE FORMULATED BYTHE HON'BLE COURT AS DEEMED FIT. 2. SET ASIDE THE COMMONAPPELLATE ORDER DATED 05/07/2013 PASSED BY THE ITAT, A BENCH,BANGALOREINAPPEALPROCEEDINGSI.T.A.NO.1536/BANG/12 FOR ASSESSMENT YEAR 2008-09. THIS ITA COMING ON FOR’ ADMISSION, THIS DAY, |Dilip B. Bhosale J.,DELIVERED THE FOLLOWING PC: We nave heard learned counsel for the parties. By|consent, the appeal is heard for final disposal at the stageof admission. 2).Mr.S.Sharath, learned counsel, holding forMr.Chythanya, for the respondent, at the outset, invited|our attention to the judgment of this Court inTata EIlxsiLtd., [349 ITR 98 (kar)]and submitted that the substantial questions of law raised in this appeal are squarely coveredby aforementioned judgment and it deserves to be)answered in favour of the assessee and against the.revenue in terms thereof. Having confronted with this,Mr.E.I.Sanmathi, learned|counselappearingfortheappellants-revenue submitted that the revenue has filedSpecial Leave Petitions in the Supreme Court against the)aforementioned judgment of this Court and the appeals are pending. He, however, fairly states that if liberty isgiven to the appellants to seek revival of this appeal in the|event the revenue succeeds in the Supreme Court, this.appeal may be disposed of in terms of those judgment. ‘3.Learned counsel appearing for the respondentnas no opjection in granting tne liberty to seek revival, asprayed for. In the circumstances,|we dispose of thisappealin terms of the judgment of this Court inTata EIxslLtd.,and answer the substantial questions of law in favourof the assessee and against the revenue subject to the.right of the revenue to seek revival of this appeal in theevent they succeed in the Supreme Court. TL Sd/-|JUDGE| Sd/-JUDGE.