The Pr. Commissioner of Income-tax CIT(A), Bangalore / The Addl. Commissioner of Income-tax Range-11, Bangalore v. Brigade Enterpries Ltd
[Citation -2020-LL-1022-48]

Citation 2020-LL-1022-48
Appellant Name The Pr. Commissioner of Income-tax CIT(A), Bangalore / The Addl. Commissioner of Income-tax Range-11, Bangalore
Respondent Name Brigade Enterpries Ltd.
Court HIGH COURT OF KARNATAKA
Relevant Act Income-tax
Date of Order 22/10/2020
Assessment Year 2010-11
Judgment View Judgment
Keyword Tags disallowance of interest • interest paid


1 IN HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS 22ND DAY OF OCTOBER 2020 PRESENT HON BLE MR. JUSTICE ALOK ARADHE AND HON BLE MR. JUSTICE H.T.NARENDRA PRASAD I.T.A. NO.20 OF 2016 BETWEEN: 1. PR.COMMISSIONER OF INCOME TAX CIT(A) 5TH FLOOR BMTC BUILDING 80 FEET ROAD, KORAMANGALA BANGALORE - 560095 2. ADDL. COMMISSIONER OF INCOME-TAX RANGE - 11 2ND FLOOR, BMTC BUILDING 80 FEET ROAD, KORAMANGALA BANGALORE -560095. APPELLANTS (BY Mr.K.V.ARAVIND, ADV.,) AND: M/S BRIGADE ENTERPRIES LTD. 29 & 30TH FLOOR, WORLD TRADE CENTRE BRIGADE GATEWAY CAMPUS 26/1, DR.RAJKUMAR ROAD RAJAJINAGAR BANGALORE - 560 055. ... RESPONDENT (BY Mr.CHYTHANYA K.K., ADV.) THIS ITA IS FILED UNDER SECTION 260-A OF I.T. ACT, 1961 ARISING OUT OF ORDER DATED 08.07.2015 PASSED IN ITA 2 NO.1275/BANG/2014 FOR ASSESSMENT YEAR 2010-2011, PRAYING THAT THIS HON BLE COURT MAY BE PLEASED TO: (I) FORMULATE SUBSTANTIAL QUESTIONS OF LAW STATED THEREIN. (II) ALLOW APPEAL AND SET ASIDE ORDER PASSSED BY ITAT, BANGALORE IN ITA NO.1275/BANG/2014 DATED 08.07.2015 AND CONFIRM ORDER OF APPELLATE COMMISSIONER CONFIRMING ORDER PASSED BY ADDL. COMMISSIONER OF INCOME TAX RANGE - 11, BANGALORE. THIS ITA COMING ON FOR FINAL HEARING, THIS DAY, ALOK ARADHE J., DELIVERED FOLLOWING: JUDGMENT This appeal under Section 260A of Income Tax Act, 1961 (hereinafter referred to as Act for short) has been preferred by revenue. subject matter of appeal pertains to Assessment year 2010-11. appeal was admitted by bench of this Court vide order dated 15.02.2016 on following substantial questions of law: (i) Whether on facts and in circumstances of case, tribunal was justified in disallowing in respect of disallowance under Section 14A read with Rule 8D(2)(ii) when same was in accordance with parameters of said section? 3 (ii) Whether on facts and in circumstances of case, tribunal was justifiecd in dismissing appeal towards disallowance of interest paid under Section 36(1)(iii) of Act when same was rightly disallowed by assessing authority as assessee had filed to establish claim under said provision? (iii) Whether on facts and in circumstsances of case, tribunal was justified setting aside Assessing Officer's action in restricting claim of d.. under Section 80IB(10) to extent of Rs.8,88,13,831/- as against Rs.39,04,37,646/- claimed by assessee when assessing authority has rightly disallowed claim as per parameters said section? 2. For reasons assigned by us in judgment passed today in I.T.A.NO.373/2014, substantial questions of law framed by this court are answered in favour of assessee and against revenue. In result, we do not find any merit in this 4 appeal, same fails and is hereby dismissed. Sd/- JUDGE Sd/- JUDGE ss Pr. Commissioner of Income-tax CIT(A), Bangalore / Addl. Commissioner of Income-tax Range-11, Bangalore v. Brigade Enterpries Ltd
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