Ita/87/2017 Of M/S Stempeutics Research Pvt Ltd v. The Joint Director Of Income Tax

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 17 DAY OF FEBRUARY, 2021 PRESENT THE HON’BLE MR.JUSTICE ALOK ARADHE AND THE HON’BLE MR.JUSTICE NATARAJ RANGASWAMY I.T.A. NO.87 OF 2017 BETWEEN: M/S STEMPEUTICS RESEARCH PVT. LTD., 9 FLOOR, MANIPAL HOSPITAL, OLD AIRPORT ROAD, RUSTOM BAGH, BENGALURU-560 017 (REPRESENTED BY ITS CHAIRMAN, DR. H.SUDARSHAN BALLAL, AGED ABOUT 62 YEARS, S/O LATE BELANJE SANJEEVA HEGDE) ...APPELLANT (BY SMT. SUSHMA RAVINDRA, ADVOCATE FOR SRI. CHYTHANYA K.K., ADVOCATE) AND:THE JOINT DIRECTOR OF INCOME TAX, (INTERNATIONAL TAXATION) RANGE-1, 80 FT. ROAD, BMTC COMPLEX, KORAMANGALA 6 BLOCK, BENGALURU-560 095. (BY SRI. E.I.SANMATHI, ADVOCATE FOR SRI. K.V.ARAVIND, ADVOCATE) …RESPONDENT THIS APPEAL IS FILED UNDER SECTION 260-A OF THE INCOME TAX ACT, 1961 ARISING OUT OF ORDER DATED 16.09.2016 PASSED IN ITA NOs.1450/BANG/2013 AND 1196/BANG/2014 FOR THE ASSESSMENT YEARS 2011-12 & 2012-13 PRAYING TO; (a) FORMULATE SUBSTANTIAL QUESTION OF LAW STATED ABOVE; (b) ALLOW THE APPEAL AND SET ASIDE THE IMPUGNED ORDER OF THE INCOME TAX APPELLATE TRIBUNAL, BENGALURU ‘C’ BENCH BEARING IN ITA NOs.1450/BANG/2013 AND 1196/BANG/2014, DATED 16.09.2016; (c) PASS SUCH OTHER SUITABLE ORDERS INCLUDING ORDER AS TO COSTS AS THIS HONORABLE COURT MAY DEEM FIT TO GRANT IN THE FACTS AND CIRCUMSTANCES OF THE CASE IN THE INTEREST OF JUSTICE AND EQUITY. THIS APPEAL COMING ON FOR HEARING THIS DAY, ALOK ARADHE, J., DELIVERED THE FOLLOWING: JUDGMENT Mrs.Sushma Ravindra, learned counsel for Mr.Chythanya K K, learned counsel for the assessee. Mr.E.I.Sanmathi, learned counsel for 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 For the reasons assigned in the memo, the appeal is dismissed as withdrawn with liberty to revive the same in case the occasion so arises.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 Sd/- JUDGE GH