Ita/952/2007 Of The Commissioner Of Income Tax v. M/S Bangalore Arrack Traders

IN THE HIGH COURT OF KARNATAKA AT BANGALORE DATED THIS THE 14 DAY OF AUGUST 2012 PRESENT THE HON'BLE MR. JUSTICE K.SREEDHAR RAO AND THE HON'BLE MR. JUSTICE B.MANOHAR ITA No.952/2007 BETWEEN : 1 THE COMMISSIONER OF INCOME TAXC R BLDNG, QUEENS ROADBANGALORE.C R BLDNG, QUEENS ROADBANGALORE. 2 THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2)OF INCOME TAX, CENTRAL CIRCLE-1(2) C R BUILDING, QUEEN'S ROADBANGALORE. BANGALORE. .. APPELLANTS (By Sri K V ARAVIND, ADV.) AND : M/S BANGALORE ARRACK TRADERS NO.200/1, R V ROADBASAVANAGUDI, BANGALORE-4. ...RESPONDENT This ITA filed u/S.260-A of I.T.Act, 1961 arising out of Order dated 10-08-2007 passed in IT(SS)A 39/BANG/2006 for the Block Assessment Year 01-04-1991 to 27-04-2001, praying that this Hon'ble Court may be pleased to: i. formulate the substantial questions of law stated therein,ii. allow the appeal and set aside the Order passed by the ITAT, Bangalore in IT(SS)A 39/Bang/2006 dated 10-08-2007 confirming the order of the Appellate Commissioner & confirm the order passed by the Asst.Commnr.,of Income Tax, Circle-5(1), Bangalore. This Appeal coming on for final hearing this day, K.SREEDHAR RAO, J, delivered the following: JUDGEMENT In view of the decision of the Supreme Court in the case of Commissioner of Income Tax -vs- Suresh N Gupta reported in (2008) 297 ITR 322 (SC), the questions of law are answered in favour of the revenue. Accordingly, the appeal is allowed. Sd/-JUDGE Sd/-JUDGE bkm.