The Said Substantial Question Of Law Having Been Considered And Answered In Favour Of The Assessee And Against The Revenue In The Case Of Cit v. M/S. Quest Global Engineering Service Pvt. Ltd.,In Ita

IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 14 DAY OF DECEMBER, 2021 PRESENT THE HON’BLE MRS. JUSTICE S.SUJATHA AND THE HON’BLE MR. JUSTICE S.VISHWAJITH SHETTY I.T.A.No.552/2016 BETWEEN: 1. The Pr. Commissioner of Income-Tax, CIT(A) 5[th] floor, BMTC Building, 80 feet road, Kormangala, Bangalore-560095. 5[th] floor, BMTC Building, 80 feet road, Kormangala, Bangalore-560095. 2. The Asst. Commissioner of Income-Tax, Circle-11(5), Present address Circle-4(1)(1), 2[nd] floor, BMTC Building, 80 feet road, Kormangala, Bangalore-560095. … APPELLANTS (By Sri K.V.Aravind, Adv.) AND: M/s. KBD Sugars & Distilleries Ltd., No.17, Sankey Road, Bangalore-560020. … RESPONDENT (By Sri V.Chandrashekar, for Sri M.Lava, Adv.) This ITA is filed under Section 260-A of the Income Tax Act praying to set aside the orders passed by the ITAT, Bangalore, in ITA No.933/Bang/2013 dated 05.02.2016 and confirm the order of the Appellate Commissioner confirming the order passed by the Assistant Commissioner of Income Tax, Circle-4(1)(1), Bengaluru. This appeal coming on for Final Hearing, this day, S.Sujatha J., delivered the following: JUDGMENT 1. This appeal is admitted to consider the following substantial question of law. "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in deleting the addition made under Section 14A r/w/s 8D(2)(ii) and (iii) holding that there was no fresh investment and the assessing authority has not expressed or recorded any satisfaction by identifying the expenditure which has been incurred in contravention to the provisions in Section 14A and also contrary to the Board's Circular No.14 of the 2001 and 5 of 2001?" 2. The said substantial question of law having been considered and answered in favour of the assessee and against the revenue in the case of CIT VS M/S. QUEST GLOBAL ENGINEERING SERVICE PVT. LTD.,in ITA No.133/2015 dated 15.02.2021, the said substantial question of law is answered in favour of the assessee and against the revenue. Resultantly, the appeal stands dismissed. Sd/- JUDGE Sd/- JUDGE KK