Ita/722/2019 Of The Commissioner Of Income Tax v. M/S Mangalore Refinery And Petrochemicals Ltd

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 27 DAY OF DECEMBER, 2020 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND| THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASADIT.A. NO.722 OF 2019 BETWEEN: 1.|THE COMMISSIONER OF INCOME-TAX INTERNATIONAL TAXATION, 4TH FLOOR, BMTC BUILDING 80 FEET ROAD, KORMANGALA BENGALURU-560095. 2.|THE DEPUTY COMMISSIONER OF INCOME-TAX. INTERNATIONAL TAXATION, CIRCLE-2(2), 4TH FLOOR| BMTC BUILDING, 80 FEET ROAD. KORMANGALA, BENGALURU-560095. _.. APPELLANTS. (BY Mr. K.V. ARAVIND, ADV.,). AND: M/S. MANGALORE REFINERY ANDPETROCHEMICALS LID.,KUTHETHOOR, P.O. VIA.KATIPALLA, MANGALURU-575030. RESPONDENT (BY Mr. VENKATESH ARABATTI, ADV.,) THIS I.T.A. IS FILED UNDER SECTION 260-A OF|I.T.ACT, 1961, ARISING OUT OF ORDER DATED6.2.2019 PASSED IN IT(IT)A No.1755/BANG/2017, FORTHE.ASSESSMENT|YEAR2016-1/7,PRAYINGTOFORMULATE THE SUBSTANTIAL QUESTIONS OF LAWSTATED ABOVE. ALLOW THE APPEAL AND SET ASIDETHE ORDERS PASSED BY THE [INCOME-TAX APPELLATETRIBUNAL, BENGALURU IN IT(IT)A No.1755/BANG/2017DATED 6.2.7019 FOR ASSESSMENT YEAR 2016-1/7ANNEXURE-C|CONFIRMINGTHE|ORDER.OF|THEAPPELLATE COMMISSIONER AND CONFIRM THE ORDERPASSED BY THE DEPUTY COMMISSIONER OF INCOMETAX,INTERNATIONAL|TAXATION, CIRCLE-2(2),.BENGALURU &® ETC. THIS I.T.A. COMING ON FOR FINAL HEARING,|THIS|DAY,ALOKARADHE|J.,DELIVERED|THEFOLLOWING: JUDGMENT Mr.K.V.Aravind, learned counsel for the revenue. Mr.Venkatesn Arabatti, learned counsel for the)aSSeSSAE., 2 |Learned counsel for the revenue has filed a memo seeking leave of this Court to withdraw theappeal. 3.)Learned counsel for the revenue submits tnat during the pendency of this appeal, the assessee has preferred an application under ‘Vivad se _ VishwasScheme, which has been entertained and on account ofpendency of the appeal, the application submitted bythe assessee could not be processed further. He,therefore, seeks leave of this Court to withdraw theappeal with liberty to revive the same as and whenoccasion so arise. 4Tne memo is taken on record. 5.|In view of the aforesaid submissions, theappeal is disposed of in terms of liberty as prayed. an/-CT-HR| Sd/-| JUDGE Sd/-'|JUDGE|