Ita/91/2021 Of Principal Commissioner Of Income Tax-4 v. M/S Jeans Knit Pvt Ltd

IN THE HIGH COURT OF KARNATAKA AT BENGALURUDATED THIS THE 2/7TH DAY OF JANUARY 2022PRESENT| THE HON’BLE MR. JUSTICE ALOK ARADHE AND| THE HON’/BLE MR. JUSTICE M.G.S. KAMALLT.A. NO.91 OF 2021 BETWEEN: 1.PRINCIPAL COMMISSIONER OF INCOME TAX-4BMTC COMPLEX, KORAMANGLABENGALURU.BMTC COMPLEX, KORAMANGLABENGALURU. 2.|DEPUTY COMMISSIONER OF INCOME TAXCIRCLE 11 (5), NO.14/3, 5TH FLOORNRUPATHUNGA ROAD.BENGALURU-560 OO1. (BY MR. E.I. SANMATHI, ADVOCATE) .... APPELLANTS AND" M/S. JEANS KNIT PVT LTD.,NO.21-E-1, 2ND PHASEINDUSTRIAL AREA PEENYA.BENGALURU-560 058PAN AABCJ 4513 B. .., RESPONDENT THIS I.T.A. IS FILED UNDER SEC. 260-A OF INCOME TAX|ACT 1961, ARISING OUT OF ORDER DATED 12.07.2019 PASSED IN ITA NO.1353/BANG/2014 FOR THE ASSESSMENT YEAR 2011-12, PRAYING TO: (1) DECIDE THE FOREGOING QUESTION OF LAW AND/OR-SUCH OTHER QUESTIONS OF LAW AS MAY BE FORMULATED BYTHE HON BLE COURT AS DEEMED FIT. (11) SET ASIDE THE APPELLATE ORDER DATED 12.07.2019|PASSED BY THE INCOME TAX APPELLATE TRIBUNAL, C BENCH,BENGALURU, IN APPEAL PROCEEDINGS ITA NO.1353/BANG/2014(ANNEXURE-A) FOR THE ASSESSMENT YEAR 2011-12 AS SOUGHT.FOR IN THIS APPEAL; AND TO GRANT SUCH OTHER RELIEF AS—DEEMED FIT, IN THE INTEREST OF JUSTICE. THIS|1LT.A. COMING ONFORORDERS,THISDAY,ALOK ARADHE J.,DELIVERED THE FOLLOWING: | JUDGMENT This appeal under Section 260-A of the Income TaxAct, 1961 (hereinafter referred to as ‘the Act’, for short) has|been filed by the revenue against tne order dated|12.07.2019 passed by the Income Tax Appellate Tribunal.The subject matter of the appeal pertains to the AssessmentYear 2011-12. Tne appeal is admitted vide order passed|today on the following substantial questions of law: “1. Whether on tne facts and circumstances of.the case, tne Tribunal is justified in allowing|theappealOf|theaSS@CSSCEregardingallowance of claim made under Section 10B of the Act despite the fact that the assessee's|business|structure|IS.formedUnder.reconstructionof.DusiInessOrUSINGtheexisting amenities of business for a new)business, whicn is void as per the provisions|of section 10B of the Act as clearly brought|out by the assessing Officer in nis order andas sucn order passed by Tribunal is perverse|In nature? 72. Whether on the facts and circumstances ofthe case, the Tribunal is Justified in setting|aside the issue of claim made by the assesseefor giving enhanced deduction under section|10B of the Act where the assessing officer hasclearly brought out the fact that no additionalclaim can be allowed to the assessee unless|the same Is claimed in the return of [ncome?"| 2. \We have heard the learned counsel for the revenueat length. Admittedly, the aforesaid substantial questions oflaw have been answered in favour of the assessee by thisCourt vide judgment dated 09.10.2020 passed in ITA|No.559/2015 and other connected matters and against thejudgment of this Court, special leave petition has alreadypeen GdISMISSEG. 3. For the reasons assigned in the aforesaid judgment,the substantial questions of law involved in this appeal are|answered in the negative and against the revenue. In the result, we do not find any merit in this appeal.The same fails and is hereby dismissed. Sd/-JUDGE Sd/-JUDGE RV