Rp/42/2017 Of The Commissioner Of Income Tax v. M/S Shriram Chits

IN THR HIGH COURT OF KARNATAKA AT BBNGALURU|DATED THIS THE 16 DAY OF JUNE, 2017. PRESENT THE HON’BLE MR.JUSTICE JAYANT PATEL AND. THE HON’BLE MR.JUSTICE ARAVIND KUMAR| REVIEW PETITION NO. 42/2017|IN1.T.A.Nos.3"4/2014 BETWEEN: 1.THR COMMISSIONBR OF INCOME TAX, C.R.BUILDING,| QUEENS ROAD,BANGALORE,-O1.BANGALORE,-O1. |THE ASSISTANT COMMISSIONER. OF INCOME TAX, CIRCLE 12(3),|BANGALORE,-O1.BANGALORE,-O1. ~... PETTTION (BY SRI. SANMATHI E.I., ADVOCATE) AND: M/S SHRIRAM CHITS(KARNATAKA) PVT. LTD., NO.259/13, 1 KLOOR10 CROSS,|WILSON GARDENBANGALORE -560 O27. .. RESPONDENT| (BY SRI.BALARAM R. RAO, ADVOCATE) THIS RBVIBW PEBETITION IS FILED UNDER ORDER 4RULE 1 OF CPC PRAYING THIS HON’BLEKE COURT TREVIEW THR ORDER DATED 28.09.2016 PASSED IN].T.A.NO.3-4/2014, ON THE FILE OF THE HON’BLE HIGHCOURT OF KARNATAKA, BENGALURU. THIS REVIEW PEIITITION COMING ON FOR ORDERTHIS DAY,JAYANT PATEL J., PASSED THE FOLLOWING:| ORDER We have heard Sri E.I.Sanmathi, learned counsel|appearing for petitioners — original appellants and Sri|BalaramRR.Rao,learnedcounselappearingforrespondent — original respondent. 2One of the ground contended in the review,petition is that the matter was not covered by Circular|No.21/15 dated 10.12.2015 inasmuch as, when the|matter arose on account of an audit objection,|irrespective of the subject case, appeal was to be|pursued, whereas, Mr.Balaram R Rao, learned counsel|appearing for respondent — assessee states that no|material is produced about the so called audit objection|and the assessee should be at liberty to satisfy the|Court that audit objection is not genuine. O| 3.) Considering the facts and circumstances, we find that since appeals came to be disposed of on|account of the statement made and if the statement as|per the petitioners is not correct, main appeals could be restored by reserving liberty to the respondent -|assessee to satisfy the Court about genuineness of the|audit objection or otherwise. | Hence, subject to the aforesaid liberty, ITA | Nos.3-4/2014 are restored. Review petition is allowed|to the aforesaid extent. %Sp| SD/-. JUDGE SD/-| JUDGE