The Pr.Commissioner Of Income Tax vs M/S Atria Power Corporation Ltd
2021 Latest Caselaw 3007 Kant

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 IN THE HIGH COURT OF KARNATAKA AT BENGALURU

       DATED THIS THE 27TH DAY OF JULY, 2021

                      PRESENT

       THE HON'BLE MR. JUSTICE ALOK ARADHE

                        AND

THE HON'BLE MR. JUSTICE HEMANT CHANDANGOUDAR

                ITA NO. 399 OF 2018
BETWEEN:

  1. THE PR. COMMISSIONER OF INCOME TAX, CIT(A)
     5TH FLOOR, BMTC BUILDING,
     80 FEET ROAD, KORAMANGALA,
     BENGALURU - 560 095.

  2. THE INCOME-TAX OFFICER,
     WARD-11(1), PRESENT ADDRESS
     WARD-1(1)(2),
     2ND FLOOR, BMTC BUILDING,
     80 FEET ROAD, KORAMANGALA,
     BENGALURU - 560 095.             ... APPELLANTS

(BY SRI K.V.ARAVIND, ADVOCATE)

AND:

M/S ATRIA POWER CORPORATION LTD.,
#1, PALACE ROAD,
BENGALURU - 560 001.
PAN:AABCA 1880E.                      ... RESPONDENT

(BY SRI SHANKAR SR.COUNSEL FOR
 SRI ANNAMALAI S, ADVOCATE)
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      THIS ITA IS FILED UNDER SECTION 260-A OF INCOME
TAX ACT 1961, ARISING OUT OF ORDER DATED 22.12.2017,
VIDE ANNEXURE-C, PASSED IN ITA NO.1394/BANG/2013
FOR THE ASSESSMENT YEAR 2010-2011, PRAYING TO:
      I. FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW
STATED ABOVE.
      II. ALLOW THE APPEAL AND SET ASIDE THE ORDERS
PASSED BY THE INCOME-TAX APPELLATE TRIBUNAL,
BENGALURU IN ITA NO. 1394/BANG/2013, DATED
22.12.2017, VIDE ANNEXURE-C, AND CONFIRM THE ORDER
OF THE APPELLATE COMMISSIONER CONFIRMING THE
ORDER PASSED BY THE INCOME TAX OFFICER, WARD -
1(1)(2), BENGALURU.
      III. TO PASS SUCH OTHER SUITABLE ORDERS AS THIS
HON'BLE COURT DEEMS FIT TO GRANT IN THE FACTS AND
CIRCUMSTANCES OF THE CASE IN THE INTEREST OF
JUSTICE AND EQUITY.

    THIS ITA COMING ON FOR ADMISSION, THIS DAY,
ALOK ARADHE J., DELIVERED THE FOLLOWING:

                          JUDGMENT

Mr. K.V. Aravind, learned counsel for the revenue.

Mr. A. Shankar, learned senior counsel along with Mr.

S.Annamali, learned counsel for the assessee.

This appeal under Section 260A of the Income Tax Act,

1961 (hereinafter referred to as the Act for short) has been

preferred by the revenue against the order dated 22.12.2017

passed by the Income Tax Appellate Tribunal. The subject

matter of the appeal pertains to the Assessment year 2010-

2011. The appeal was admitted by a bench of this Court on

the following substantial question of law:

"Whether on the facts and circumstances of the case, the Tribunal is right in law in holding that the assessee is governed by the different Acts and Rules and is not required to prepare its profit and loss account and balance sheet as per Part II and III of Schedule VI of the Companies Act, hence the provisions of Section 115JB cannot be invoked in the instant case?"

2. When the matter was taken up today, the

learned senior counsel for the assessee submitted that the

aforesaid substantial question of law involved in this appeal

has already been answered in favour of the assessee for the

previous assessment year namely 2005-2006, by this Court

vide judgment dated 16.01.2020 passed in ITA No.18/2014

and other connected appeals.

3. The aforesaid submission could not be disputed by

the learned counsel for the revenue.

4. For the reasons assigned by us in the judgment

dated 16.01.2020 passed in ITA No.18/2014 and other

connected appeals, the substantial question of law framed in

this appeal is answered in favour of the assessee and against

the revenue.

In the result, appeal filed by the revenue fails and is

hereby dismissed.

Sd/-

JUDGE

Sd/-

JUDGE

HR