COMMISSIONER OF INCOME TAX, MANGALORE v. MANGALORE CO OPERATIVE BUILDING SOCIETY LTD - 2015-LL-0929-65

Citation	2015-LL-0929-65
Appellant Name	COMMISSIONER OF INCOME TAX, MANGALORE
Respondent Name	MANGALORE CO OPERATIVE BUILDING SOCIETY LTD.
Court	HIGH COURT OF KARNATAKA
Relevant Act	Income-tax
Date of Order	29/09/2015
Assessment Year	2009-10
Judgment	View Judgment
Keyword Tags	substantial question of law
Bot Summary:	THIS I.T.A. COMING ON FOR ORDERS THIS DAY, VINEET SARAN. J DELIVERED THE FOLLOWING: 2 JUDGMENT This appeal has been filed raising the following substantial question of law:- Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the assessee society is entitled to deduction under section 80P(2)(a)(i) of the Income Tax Act 2. Learned counsel for the appellant has submitted that the question involved in this appeal is covered by the decision of this Court rendered in I.T.A.189/2014, Commissioner of Income Tax III Vs. M/s.Quest Informatics Pvt. Ltd., decided on 5.1.2015 wherein, the question has been answered in favour of assessee and against the revenue. In such view of the matter, we are of the opinion that no substantial question of law arises for determination by this Court. Sri E.I.Sanmathi, learned counsel for the appellant states that challenging the said order in the case of M/s.Quest Informatics Pvt. Ltd.,, revenue has filed an appeal before the Apex Court, which is pending. In the event, Apex Court reverses the judgment, then the Assessing Authority shall pass consequential orders in terms of Section 260(1A) of the Income Tax Act and inconformity with the outcome of the appeal before Supreme Court. With the aforesaid observations, this appeal stands dismissed.

1 IN HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS 29TH DAY OF SEPTEMBER 2015 PRESENT HON'BLE MR. JUSTICE VINEET SARAN AND HON'BLE MR. JUSTICE B.MANOHAR I.T.A.NO.146 OF 2015 BETWEEN: COMMISSIONER OF INCOME TAX, MANGALORE ... APPELLANT (BY:SRI.E I SANMATHI, ADVOCATE ) AND: MANGALORE CO OPERATIVE BUILDING SOCIETY LTD., I FLOOR, CLASSIC ARCADE K.S.RAO ROAD MANGALORE-575003. ... RESPONDENT THIS ITA IS FILED UNDER SEC.260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED:26/09/2014 PASSED IN ITA NO.1856/BANG/2013, FOR ASSESSMENT YEAR 2009-10 PRAYING TO: 1. DECIDE FOREGOING QUESTION OF LAW AND / OR SUCH OTHER QUESTIONS OF LAW AS MAY BE FORMULATED BY HON'BLE COURT AS DEEMED FIT AND (2) TO SET ASIDE APPELLATE ORDER DATED: 26/09/2014 PASSED BY ITAT, 'C' BENCH, BANGALORE, IN APPEAL PROCEEDINGS NO. ITA NO. 1856/BANG/2013 FOR ASSESSMENT YEAR 2009-10. THIS I.T.A. COMING ON FOR ORDERS THIS DAY, VINEET SARAN. J DELIVERED FOLLOWING: 2 JUDGMENT This appeal has been filed raising following substantial question of law:- Whether, on facts and in circumstances of case, Tribunal was justified in law in holding that assessee society is entitled to deduction under section 80P(2)(a)(i) of Income Tax Act? 2. Learned counsel for appellant has submitted that question involved in this appeal is covered by decision of this Court rendered in I.T.A.189/2014, Commissioner of Income Tax III Vs. M/s.Quest Informatics Pvt. Ltd., decided on 5.1.2015 wherein, question has been answered in favour of assessee and against revenue. 3. In such view of matter, we are of opinion that no substantial question of law arises for determination by this Court. 3 4. Sri E.I.Sanmathi, learned counsel for appellant states that challenging said order in case of M/s.Quest Informatics Pvt. Ltd., (supra), revenue has filed appeal before Apex Court, which is pending. 5. As such, in event, Apex Court reverses judgment, then Assessing Authority shall pass consequential orders in terms of Section 260(1A) of Income Tax Act and inconformity with outcome of appeal before Supreme Court. With aforesaid observations, this appeal stands dismissed. Sd/- JUDGE Sd/- JUDGE VGR COMMISSIONER OF INCOME TAX, MANGALORE v. MANGALORE CO OPERATIVE BUILDING SOCIETY LTD

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