Ita/87/2015 Of M/S Karnataka Power Transmissions Corporation Ltd v. Deputy Commissioner Of Income Tax (Ltu)

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 28TH DAY OF JULY, 2021 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE HEMANT CHANDANGOUDAR BETWEEN: ITA NO.87 OF 2015 M/S KARNATAKA POWER TRANSMISSIONS CORPORATION LTD., 7TH FLOOR, KAVERI BHAVAN, KEMPEGOWDA ROAD, BENGALURU-560 004, (REPRESENTED BY ITS MANAGING DIRECTOR SRI G KUMAR NAIK, AGED ABOUT 51 YEARS, S/O SRI GOVINDASWAMY NAIK T. N) ... APPELLANT (BY SRI CHYTHANYA K K, ADVOCATE) AND: DEPUTY COMMISSIONER OF INCOME TAX (LTU), JSS TOWERS, 100 FT. RING ROAD, BANASHANKARI 3RDE STAGE, BENGALURU-560 085. ... RESPONDENT (BY SRI DILIP KUMAR, ADVOCATE FOR SRI K.V.ARAVIND, ADVOCATE) **** THIS ITA IS FILED UNDER SECTION 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 31.10.2014 PASSED IN ITA NO.1266/BANG/2013, FOR THE ASSESSMENT YEAR 2007-08, PRAYING TO: I. FORMULATE THE SUBSTANTIAL QUESTION OF LAW STATED ABOVE. II. ALLOW THE APPEAL AND SET ASIDE THE IMPUGNED ORDER{SO FAR AS SAME IS PREJUDICIAL TO THE APPELLANT} OF THE INCOME TAX APPELLATE TRIBUNAL, BENGALURU 'A' BENCH BEARING IN ITA NO.1266/BANG/2013,DATED 31.10.2014. THIS ITA COMING ON FOR HEARING, THIS DAY, ALOK ARADHE J., DELIVERED THE FOLLOWING: JUDGMENT Mr. Chythanya K.K., learned counsel for the assessee. Mr. Dilip Kumar, learned counsel for the revenue. Learned counsel for the assessee submits that this Court by Judgment dated 26.07.2021 passed in ITA No.91/2015 has dismissed the appeal preferred by the revenue. He therefore submits that the assessee be permitted to withdraw the appeal and the issue involved in this appeal may be kept open to agitate in appropriate proceedings, if occasion so arises. In view of the aforesaid submission, the appeal is dismissed as withdrawn with aforesaid liberty. Sd/- JUDGE Sd/- JUDGE HR