The CIT, Mangalore / The DCIT, Circle-1, Udupi v. Syndicate Bank - 2020-LL-0122-108

Citation	2020-LL-0122-108
Appellant Name	The CIT, Mangalore / The DCIT, Circle-1, Udupi
Respondent Name	Syndicate Bank
Court	HIGH COURT OF KARNATAKA
Relevant Act	Income-tax
Date of Order	22/01/2020
Assessment Year	1990-91
Judgment	View Judgment
Keyword Tags	book profit
Bot Summary:	E.I. Sanmathi, learned counsel for the revenue. T Suryanarayana, learned Counsel for the respondent. This appeal, under Section 260-A of the Income Tax Act, 1961 has been filed by the revenue which was admitted by this Court today on the following substantial question of law: Whether the Tribunal has committed an error in law in holding that the Book Profit to be adopted for the purpose of Sec. 115J was a negative figure of Rs.3.38 crore 2. Admittedly, the aforesaid substantial question of law has been answered by us vide judgment dated 16.1.2020 passed in ITA No.18/2014. 3 Accordingly, the aforesaid substantial question of law is answered in terms of the judgment dated 16.01.2020 passed in ITA No.18/2014.

IN HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS 22 ND DAY OF JANUARY 2020 PRESENT HONBLE MR. JUSTICE ALOK ARADHE AND HONBLE MR. JUSTICE RAVI V. HOSMANI ITA No.583/2013 BETWEEN: 1. Commissioner of Income-tax, Mangalore- 575001. 2. Deputy Commissioner of Income Tax, Circle 1, Udupi-576001. APPELLANTS (BY SRI. E.I SANMATHI, ADVOCATE) AND: M/s Syndicate Bank, H.O. Manipal-576104, RESPONDENT (BY SRI. T SURYANARAYANA, ADVOCATE) THIS INCOME TAX APPEAL IS FILED UNDER SECTION 260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 07.06.2013 PASSED IN ITA NO.377/BANG/2010,FOR ASSESSMENT YEAR 1990-1991. 2 THIS APPEAL COMING ON FOR FINAL HEARING, THIS DAY, ALOK ARADHE J., DELIVERED FOLLOWING: JUDGMENT Sri. E.I. Sanmathi, learned counsel for revenue. Sri. T Suryanarayana, learned Counsel for respondent. This appeal, under Section 260-A of Income Tax Act, 1961 (hereinafter referred to as Act for short) has been filed by revenue which was admitted by this Court today on following substantial question of law: Whether Tribunal has committed error in law in holding that Book Profit to be adopted for purpose of Sec. 115J was negative figure of Rs.3.38 crore? 2. Admittedly, aforesaid substantial question of law has been answered by us vide judgment dated 16.1.2020 passed in ITA No.18/2014. 3 Accordingly, aforesaid substantial question of law is answered in terms of judgment dated 16.01.2020 passed in ITA No.18/2014. appeal is disposed of. Sd/- JUDGE Sd/- JUDGE Psg CIT, Mangalore / DCIT, Circle-1, Udupi v. Syndicate Bank

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