Karnataka High Court
Pr Commissioner Of Income Tax ... vs M/S Paresh Exports P Ltd on 28 May, 2021
Author: Alok Aradhe Chandangoudar
1
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 28TH DAY OF MAY 2021
PRESENT
THE HON'BLE MR. JUSTICE ALOK ARADHE
AND
THE HON'BLE MR.JUSTICE HEMANT CHANDANGOUDAR
I.T.A. NO.515 OF 2017
BETWEEN:
1. PR. COMMISSIONER OF INCOME TAX
(CENTRAL), C.R. BUILDING
QUEENS ROAD, BENGALURU-560001.
2. THE DY. COMMISSIONER OF INCOME TAX
CENTRAL CIRCLE-1(4), BENGALURU.
... APPELLANTS
(BY SRI. JEEVAN J. NEERALGI, AGA)
AND:
M/S. PARESH EXPORTS (P) LTD.,
NO.104, 1ST FLOOR, 56TH CENTRE POINT
RESIDENCY ROAD
BENGALURU-560025
PAN:AAACP8236G.
... RESPONDENT
(V/O DTD:24.03.2021 SERVICE OF NOTICE TO RESPONDENT
HELD SUFFICIENT)
2
THIS I.T.A. IS FILED UNDER SECTION 260-A OF
I.T.ACT, 1961 ARISING OUT OF ORDER DATED 09.12.2016
PASSED IN ITA NO.252/BANG/2013, FOR THE ASSESSMENT
YEAR 2005-06, PRAYING TO DECIDE THE FOREGOING
QUESTION OF LAW AND/OR SUCH OTHER QUESTIONS OF
LAW AS MAY BE FORMULATED BY THE HON'BLE COURT AS
DEEMED FIT AND SET ASIDE THE APPELLATE ORDER DATED
09.12.2016 PASSED BY THE INCOME TAX APPELLATE
TRIBUNAL, 'C' BENCH, BENGALURU, AS SOUGHT FOR, IN
THE RESPONDENT-ASSESSEE'S CASE, IN APPEAL
PROCEEDINGS IN ITA NO.252/BANG/2013 FOR A.Y. 2005-06
& GRANT SUCH OTHER RELIEF AS DEEMED FIT, IN THE
INTEREST OF JUSTICE.
THIS I.T.A. COMING ON FOR ADMISSION, THIS DAY,
ALOK ARADHE J., DELIVERED THE FOLLOWING:
JUDGMENT
This appeal under Section 260-A of the Income Tax
Act, 1961 (hereinafter referred to as 'the Act', for short) has
been filed by the revenue against the judgment dated
09.12.2016 passed by the Income Tax Appellate Tribunal.
The subject matter of the appeal pertains to the Assessment
Year 2005-06. The appeal is admitted by a Bench of this
Court vide order dated 28.05.2021 on the following
substantial questions of law:
"(1) Whether on the facts and in the
circumstances of the case, the Tribunal is right in
law in deleting the addition of Rs.6,00,13,928/-
on account of unaccounted interest income on
FDs by holding that the Revenue has not brought
any material to make such addition as held by
CIT(A) even when the assessee has admitted only
Rs.4,39,97,515/- in the return of income and
CIT(A) without proper discussion has held that
Rs.29,45,468/- is taxable?
(2) Whether on the facts and in the
circumstances of the case, the Tribunal is right in
law in deleting the unaccounted income in gold
without appreciating that the assessee has failed
to prove the source for the said purchases of gold
and failed to give independent reasonings for
setting aside the additions?
(3) Whether on the facts and in the
circumstances of the case, the Tribunal is right in
law in setting aside the addition under section
69A of the Act on account of unaccounted cash
found during the search proceedings by holding
that the Revenue has not brought any material to
make such addition when the assessee could not
explain the details of the cash found in the search
proceedings and in the appellate proceedings?"
2. This Court, vide judgment dated 17.11.2020 passed
in ITA No.514/2017, quashed the order passed by the
Income Tax Appellate Tribunal on the ground that the same
is cryptic and suffers from non-application of mind and has
remitted the same to the Tribunal to consider the substantial
question of law Nos.1 and 2.
3. For the reasons assigned in the aforesaid judgment,
the order dated 09.12.2016 passed by the Tribunal in ITA
No.252/Bang/2013 in respect of Assessment Year 2005-06 is
quashed and the matter is remitted to the Tribunal to
consider the substantial question of law Nos.1 and 2 afresh
by assigning reasons.
Since the matter has been remitted to the Tribunal for
decision afresh, it is not necessary for us to answer the
substantial questions of law framed in this appeal.
Accordingly, the appeal is disposed of.
Sd/-
JUDGE
Sd/-
JUDGE
RV
