Ita/889/2008 Of M/S Shriram Chits Bangalore Ltd v. The Assistant Commissioner Of Income Tax

IN THR HIGH COURT OF KARNATAKA AT BANGALOREDATEKD THIS THE 1[‘T]DAY OF OCTOBER 2014| PRESEHBN THR HON BLE MR. JUSTICE N. KUMAR. AND THR HON’BLE MR. JUSTICK B. MANOHAR| ITA No. 889 OF 2008 BETWEEN; M/S SHRIRAM CHITS (BANGALORE) LTD.,(NOW KNOWN AS SHRIRAM CHITS|(KARNATAKA) (P) LTD.,)RBPRBESENTBD BY ITS BXECUTIVE DIRECTORMR.RONALD D’SOUZAAGEKED ABOUT 46 YRAR“AKSHODAYA’ 10 CROS»s,.1 FLOOR, 10 CROSSWILSON GARDEN,BANGALORE-560 O27. APPELLANT| (BY SRILG.SARANGAN, SR. ADV. FOR|ORI. BALRAM R. RAO, ADV.) AND: THR ASSISTANT COMMISSIONER OFINCOME TAX, CIRCLE-12(2)BANGALORE. — RBSPONDEBENT (BY SRI. JEEVAN J. NEERALGI, ADV. ) THIS APPEAL IS FILED UNDER U/S 260-A OF I.T.ACT, 1961 ARISING OUT OF ORDER DATED 23-05-2008 PASSED IN ITA.NO.601/BNG/2007, FOR THEASSESSMENTYRAR2003-2004|PRAYINGTO FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW.STATED THRRBIN AND ALLOW THR APPEAL AND SHT|ASIDE;THE|ORDERPASSEDBY|THE.ITAT,BANGALORE IN ITA NO.601/BNG/2007, DATED 23-5-2008 [IS SO FAR AS [TT RBLATES TRATING THDIVIDEND INCOME IS TAXABLE AND IS NOT BXEMPT|UNDEBR THR INCOME TAX ACT. THIS APPKAL COMING ON FOR HBARING THISDAY,N. AUMAR, J.DBELIVERBED THR FOLLOWING:- JUDGMENT The learned senior counsel appearing for theappellant submits that the appellant does not press thisappeal subject to condition if there is any appeal by theRevenue challenging the findings of the Tribunalallowing business loss, in which event, the appellant bereserved the liberty to seek for revival of this appeal. 2 |His submission is placed on record. The appeal is dismissed as not pressed reservingthe liberty sought for. Sd/- JUDGE. Sd/-| JUDGE.