Rp/129/2022 Of The Commissioner Of Income Tax v. M/S Abb Ltd

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 24 DAY OF MARCH, 2023 PRESENT THE HON'BLE MR. JUSTICE ALOK ARADHE AND THE HON'BLE MR. JUSTICE HEMANT CHANDANGOUDAR REVIEW PETITION NO.129 OF 2022 BETWEEN: 1. THE COMMISSIONER OF INCOME-TAX 5TH FLOOR, BMTC BUILDING 80 FEET ROAD, 6TH BLOCK KORAMANGALA, BENGALURU-560095. Digitallysigned byRUPA V2. THE ASST. COMMISSIONER OF INCOME-TAX Location:CENTRAL CIRCLE-19, PRESENT ADDRESS High CourtofDCIT ,CIRCLE-1(1)(1), 2ND FLOOR KarnatakaBMTC BUILDING, 80 FEET ROAD 6TH BLOCK, KORAMANGALA BENGALURU-560095. …PETITIONERS (BY SRI. DILIP, ADV., FOR SRI. ARVIND K.V. ADV.,) AND:1. M/S. ABB LTD., (SUCCESSOR OF ABB INSTRUMENTATION LTD.,) KHANIJA BHAVAN, RACE COURSE ROAD II FLOOR EAST WING, BENGALURU-560017. …RESPONDENT (BY SRI. T. SURYANARAYANA RAO, SR. ADV., FOR SMT. MANASA ANANTHAN, ADVS.,) THIS REVIEW PETITION IS FILED UNDER ORDER 47 RULE 1 OF CPC, PRAYING TO REVIEW/RECALL THE ORDER DATED 09/06/2020 PASSED BY THIS HON'BLE COURT IN ITA NO. 134/2011. TO PASS SUCH OTHER SUITABLE ORDERS AS THIS HON'BLE COURT DEEMS FIT TO BE GRANTED IN THE FACTS AND CIRCUMSTANCES OF THE CASE IN THE INTEREST OF JUSTICE AND EQUITY. THIS PETITION COMING ON FOR ADMISSION, THIS DAY, ALOK ARADHE., MADE THE FOLLOWING: ORDER Heard learned counsel for the parties. This petition has been filed seeking review of the judgment dated 09.06.2020 passed by this court in ITA No.134/2008. After hearing learned counsel for the parties, the judgment dated 09.06.2020 is modified and para 13 is substituted as follows: In view of preceding analysis, the impugned order passed by the Income Tax Appellate Tribunal is modified and the finding recorded that the assessee is entitled to the deduction of bad debtis set aside. The matter is remitted to the Assessing Officer who shall decide the same in the light of the law laid down by the Supreme Court in case of T.R.F supra. In the result, the first substantial question of law is answered accordingly, whereas, the second substantial question of law is answered in favour of the assessee. In the result, the appeal is disposed of. With the aforesaid modification in the judgment dated 09.06.2020 in ITA No.134/2008, the petition is disposed of. Sd/- JUDGE Sd/- JUDGE SS