.....
'*1(D§"s;i,M=V«éDasHAcHALA, ADV.,)
IN THE HIGH COURT OF KARNATAKA
CIRCUIT BENCH AT DHARWI-RD
DATED THIS THE 22"'DAY OF SEPTEMBER :O08CT17='
PRESENT .NW.
THE HON'BLE MR.JUSTICE V;G{SAEHAHIT'j T'?u'**
ANDTC=
THE HON'BLE MR.JusT1cE_$fa;sA¢YAfiARAiAMA
INCOME TAX A§PEA£ §O;1s7/2004
BETWEEN: A, _w"T-.v
SR1 B.G.AOARwAL}3=V.'g 3'" ". "'-wv
ITTAGI MARUTHI,GALLI;,O,V, *'w5v .
HUBL1. V, QT; '' 'f-
_. .... - x Hg__ ._._ ~,_h; ... APPELLANT
(By Sri A SHADKAR; ADV ; :_
AND:
INCOME TAX OFFICBRQE '
WARD 1(3) '
. . RES PONDENT
'T"~TH:s7§:{D}A. FILER) U/S. 260A. OF THE INCOME
TAX _ACT;_}l961 ARISING OUT OF ORDER DATED
'V19.12:2Oo3' PASSED IN ITA NO.613fBANG/2003 FOR
"THE AS.S_}'3'SSMENT YEAR 1998-99 PRAYING THAT THIS
_'gI'iC'rN'-.BLE CQURT MAY BE PLEASED TO FDRMULATE THE'.
2 "Stf.B_ST..'%I%fTIAL QUESTION OF LAW STATED THEREIN AND
A37;LOW THE APPEAL AND SET ASIDE THE. URDER OF THE
TRIBUNAL BEARING" ITA NO.613/BANG/F2003 DATED
19.12.2003 ON THE VALIDITY OF ASSESSMENT FOR THE
ASSESSMEN} YEAR 1998*99 ETC.
ems 3;':-A COMING ON FOR HEARING THI§~'~~«--DAi_;§'
SABEAHIT 3., DELIVERED THE FOLLOWING:
JUDGMENT
This appeal by the assessee ie fiiefl being ,_f
aggrieved by the order passed byfithe Incemeétaigu
Appellate Tribunal, Bangaieéé Befichte5C;@ in
1″TA.No. 613/Banga/2003. dggteci””1’9;’j;2″;t2_oo3 ifar” the
as$essment year 1998~§9i dcfifirminga the order
(Appeals)}WiHu§li,?§Wh§viintutWWhed confirmed the
order pésged thy ithe”-eSfié;sing authority” dated
30.3.2001, iiiwhimin *t..h”e«.i.’-?transact,i.on declared in
_ the vzeguier returnfi. as unexplaied investment
A”gnder»$ectionE€9 of the Incomemtax Act, 1961.
2, The Substantial questions of law arises
—fgvfOr our determination in this appeal are,
1) Whether the finding of the Income–Tazt
Appellate Tribunal that the =$ai¢_V-
txansaction as revealed in the .:egula:ft_3
returns filed are taxable under Sectionf69
of the Income–tax Act,f”is4lperverSe_ or?
arbitrary for non consideration ‘¢f’ the %f
material fact as to yhether the gefiaa that
are sold under the traneactions relied age:
by the aesesse are the eame goods which had
been declared under ithe. application filed
under Voluntary Vibeciaretionfi of Income
Scheme 199?,_ which :wasfl,acce§ted by the
revenue?§
2)_What”a£dér3,
3. The abeve enbatantial questions of law
have been answered_in 3Te.No.186/2084 arising on
“ident§eal facts and law decided on 22.9.2008 by
Vda’detai1edVorde: pronounced separately.
V4- ,Forw the reasons assigned in the said
H’dd”a@peal,z£TA.No.186/2004, which is applicable on
«”ail*fonrs to the facts of the present case, we
enssiier the substantial question of law No.1 in
W
affirmative and substantial question of law No}2
as per final order and pass the following:___”*,VV”‘*”t:”~l.V”‘A
ORDER
The appeal is allowed. ‘I’.h’e’ ~orde–:r
the Income-tax Appellate Trl.&bu}?_i:alV,
Bench ‘C’ in ITA.No.aii’3;(aan§’a-1}§re{2§)_oé._;’wioi:
assessment year 1998-99 Vdoitrder
passed fly the Commiaazi”o_ne::ir “”v3IV:§Ae:’ornbe~tax Hubli
dated 27.3.2003 w21oAA…i.x:1._1::–t1r.’r1,VA:ha”d”.io’einf’irmed the
order passed & ” ‘~——*l;ficer, Ward-
I(3), Hublli. aside and the
matter la ilfiioolne-tax Officer,
Ward~I(3)’v}_ fresh orders in
the light ofwthe VobsAe~.r’Va–tions made in the body
AA …..
S
Sdl-e__
311599.
guéée