Disposed¶35

Tool and Gauge v. Income Tax Officer

Karnataka HC5 Mar 2025ITA/272/2019

Case brief

AI extract

What is this about?

Withdrawal of income tax appeal; Direct Tax Vivad Se Vishwas Scheme, 2024; Section 91(3) Finance (No.2) Act, 2024; Form-2 and Form-3 settlement; memo dated 28.02.2025; ITA No.2864/BANG/2017; assessment year 2012-13; Sec.260-A Income Tax Act 1961; disposal as withdrawn; cost made easy; Tool and Gauge Manufacturers Association of India; ITO (Exemptions) Ward-2 Bangalore; Principal Commissioner of Income Tax-1; High Court of Karnataka; Krishna S Dixit; Ramachandra D. Huddar; NC: 2025:KHC:9316-DB.

What did the court decide?

Leave granted to withdraw the appeal; appeal disposed of as having been withdrawn in terms of the appellant's memo dated 28.02.2025; cost made easy. ¶35

Tool and Gauge Vs Income Tax Officer — Income Tax | Karnataka HC (2025)

What the court decided

AI extract

Outcome

Leave granted to withdraw the appeal; appeal disposed of as having been withdrawn in terms of the appellant's memo dated 28.02.2025; cost made easy.

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Issue for consideration

Whether leave should be granted to the appellant to withdraw the income tax appeal in light of its full and final settlement under the Direct Tax Vivad Se Vishwas Scheme, 2024, with liberty reserved to seek restoration of the appeal if the settlement does not proceed successfully.

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Court's answer

As the appellant had completed settlement under the Direct Tax Vivad Se Vishwas Scheme, 2024 and the Panel Counsel for the Revenue raised no objection, the Court granted leave and disposed of the appeal as having been withdrawn in terms of the appellant's memo dated 28.02.2025, with cost made easy.

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Detailed headnote1 paragraphs

Income Tax Appeal (ITA No. 272 of 2019) under S.260-A of the Income Tax Act, 1961 by Tool and Gauge Manufacturers Association of India against the order dated 16.11.2018 of the Income Tax Appellate Tribunal in ITA No.2864/BANG/2017 for AY 2012-13. Before disposal, counsel for the appellant filed a memo dated 28.02.2025 recording that the dispute was being resolved under the Direct Tax Vivad Se Vishwas Scheme, 2024: a declaration had been filed, the Department had issued Form-2 under the Finance (No.2) Act, 2024 fixing the final payable amount, the appellant had remitted the same and filed Form-3 before the Jurisdictional Assessing Officer, completing full and final settlement. Invoking Section 91(3) of the Finance (No.2) Act, 2024, the appellant sought leave to withdraw the appeal, with liberty reserved to seek restoration if the Scheme application did not proceed successfully. The Panel Counsel for the Revenue raised no objection. Held: the appeal was disposed of as having been withdrawn in terms of the memo; cost made easy. Bench: Krishna S Dixit, J. (per whom the oral judgment was delivered) and Ramachandra D. Huddar, J.; decided 05-03-2025; NC: 2025:KHC:9316-DB.

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NC: 2025:KHC:9316-DB ITA No. 272 of 2019

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 5^TH DAY OF MARCH, 2025

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PRESENT

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THE HON'BLE MR JUSTICE KRISHNA S DIXIT AND

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THE HON'BLE MR JUSTICE RAMACHANDRA D. HUDDAR

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INCOME TAX APPEAL NO. 272 OF 2019

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BETWEEN:

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TOOL AND GAUGE MANUFACTURERS ASSOCIATION OF INDIA 23/24, II PHASE, PEENYA INDUSTRIAL AREA, BANGALORE-560 052, REPRESENTED HEREIN BY ITS SECRETARY MR. ASHOK SHETTY M.

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…APPELLANT

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(BY SRI. TANMAYEE RAJKUMAR, ADVOCATE) AND:

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Digitally signed by SHAKAMBARI Location: HIGH COURT OF KARNATAKA

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INCOME-TAX OFFICER ITO (EXEMPTIONS) WARD-2, BMTC BUILDING, 80 FT ROAD KORAMANGALA, 6^TH BLOCK, BANGALORE-560 095.

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PRINCIPAL COMMISSIONER OF INCOME TAX-1 BMTC BUILDING, 80 FT ROAD, KORAMANGALA, 6^TH BLOCK, BANGALORE-560 095

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…RESPONDENTS (BY SRI. E.I. SANMATHI, ADVOCATE) THIS ITA / INCOME TAX APPEAL IS FILED UNDER SEC.260-A OF INCOME TAX ACT 1961, ARISING OUT OF ORDER DATED 16.11.2018 PASSED IN ITA NO.2864/BANG/2017, FOR THE ASSESSMENT YEAR 20122013, PRAYING TO 1. FORMULATE THE SUBSTANTIAL QUESTIONS OF LAW AS STATED ABOVE;

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NC: 2025:KHC:9316-DB ITA No. 272 of 2019

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THIS APPEAL, COMING ON FOR ORDERS, THIS DAY, JUDGMENT WAS DELIVERED THEREIN AS UNDER:

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CORAM: HON'BLE MR JUSTICE KRISHNA S DIXIT

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and

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HON'BLE MR JUSTICE RAMACHANDRA D. HUDDAR

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ORAL JUDGMENT

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(PER: HON'BLE MR JUSTICE KRISHNA S DIXIT)

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Learned counsel for the appellant has filed a memo

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dated 28.02.2025 seeking leave of this Court to withdraw the appeal. Memo reads as under:

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"The Advocate for the Appellant submits that the above appeal was filed challenging the order dated 16.11.2018 passed by the Income Tax Appellate Tribunal in ITA No.2864/BANG/2017 for the assessment year 2012-13.

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It is submitted that the Appellant wishes to resolve the dispute under the provisions of the Direct Tax Vivad Se Vishwas Scheme, 2024 ("the Scheme") and in this regard has filed the relevant declaration. Pursuant to the declaration filed by the Appellant, the Income-tax Department has issued Form-2 under the Finance (No.2) Act, 2024 wherein the final payable as per the said Scheme has been determined. Subsequently, the Appellant has duly remitted the same and filed Form-3 before the Jurisdictional Assessing officer. Therefore, it is pertinent to note that the full and final settlement has been made by the Appellant.

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In view of the above, an in terms of Section 91(3) of the Finance (No.2) Act, 2024, the Appellant most humbly seeks leave of this Hon'ble Court to withdraw the appeal. It is prayed that

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NC: 2025:KHC:9316-DB ITA No. 272 of 2019

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liberty may be reserved with the Appellant to seek restoration of the appeal, in the event that the application under the Scheme does not proceed or is not finalized successfully.

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Wherefore, it is most humbly prayed that this Hon'ble Court may be pleased to permit the Appellant to withdraw the appeal, in the interests of justice and equity".

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2. There is no objection from the Panel Counsel

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appearing for the Revenue to grant leave to withdraw the appeal.

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In view of the above, appeal is disposed off as having been withdrawn, in terms of the memo. Cost made easy.

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Sd/(KRISHNA S DIXIT) JUDGE

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Sd/(RAMACHANDRA D. HUDDAR) JUDGE

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DH List No.: 1 Sl No.: 2 CT:SNN

Tool and Gauge v. Income Tax Officer

Case brief

What is this about?

What did the court decide?

Tool and Gauge v. Income Tax Officer

Case brief

What is this about?

What did the court decide?

Why is it important?

What the court decided

Issues for consideration

Statutes considered

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