Ita/680/2016 Of Praxair India Private Ltd v. Assistant Commissioner Of Income Tax

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 22 DAY OF FEBRUARY, 2021 PRESENT THE HON’BLE MR.JUSTICE ALOK ARADHE AND THE HON’BLE MR.JUSTICE NATARAJ RANGASWAMY I.T.A. NO.680 OF 2016 BETWEEN: PRAXAIR INDIA PRIVATE LTD., POST BOX NO.4251, NO.8, ULSOOR ROAD, BANGALORE-560042. ...APPELLANT (BY SRI. ANKURPAI, ADVOCATE FOR SRI. K.R.VASUDEVAN, ADVOCATE) AND:ASSISTANT COMMISSIONER OF INCOME TAX, LTU, JSS TOWERS, 100 FEET ROAD, BANSHANKARI 3 STAGE, BANGALORE-560085. …RESPONDENT (BY SRI. K.V.ARAVIND, ADVOCATE) THIS APPEAL IS FILED UNDER SECTION 260-A OF THE INCOME TAX ACT, 1961 ARISING OUT OF ORDER DATED 27.07.2016 PASSED IN IT (TP) A NO.23/Bang/2012, FOR THE ASSESSMENT YEAR 2007-2008 PRAYING TO; (a) FORMULATE THE SUBSTANTIAL QUESTION OF LAW STATED ABOVE AND ANSWER THE SAME IN FAVOUR OF THE APPELLANT; (b) ALLOW THE APPEAL AND SET ASIDE THE FINDINGS TO THE EXTENT AGAINST THE APPELLANT IN THE ORDER PASSED BY THE HON’BLE ITAT IN IT (TP) A NO.23/Bang/2012 DATED 27.07.2016 (ANNEXURE-E) IN THE INTEREST OF JUSTICE AND EQUITY. THIS APPEAL COMING ON FOR HEARING THIS DAY, ALOK ARADHE, J., DELIVERED THE FOLLOWING: JUDGMENT Mr.Ankur Pai, learned counsel for Mr.K.R.Vasudevan, learned counsel for the assessee. Mr.K.V.Aravind, learned counsel for the revenue. Learned counsel for the assessee has filed a memo seeking leave of this Court to withdraw the appeal. 2. The aforesaid memo is taken on record. For the reasons assigned in the memo, the appeal is dismissed as withdrawn with liberty to revive the same in case the occasion so arises. Sd/- JUDGE GH Sd/- JUDGE