{"id":135404,"date":"2008-09-22T00:00:00","date_gmt":"2008-09-21T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/b-g-agarwal-vs-income-tax-officer-on-22-september-2008"},"modified":"2014-05-27T14:05:13","modified_gmt":"2014-05-27T08:35:13","slug":"b-g-agarwal-vs-income-tax-officer-on-22-september-2008","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/b-g-agarwal-vs-income-tax-officer-on-22-september-2008","title":{"rendered":"B G Agarwal vs Income Tax Officer on 22 September, 2008"},"content":{"rendered":"<div class=\"docsource_main\">Karnataka High Court<\/div>\n<div class=\"doc_title\">B G Agarwal vs Income Tax Officer on 22 September, 2008<\/div>\n<div class=\"doc_author\">Author: V.G Sabhahit S.N.Satyanarayana<\/div>\n<pre>    ..... \n\n'*1(D\u00a7\"s;i,M=V\u00ab\u00e9DasHAcHALA, ADV.,)\n\nIN THE HIGH COURT OF KARNATAKA\n\nCIRCUIT BENCH AT DHARWI-RD\n\nDATED THIS THE 22\"'DAY OF SEPTEMBER :O08CT17='\n\nPRESENT .NW.\n\nTHE HON'BLE MR.JUSTICE V;G{SAEHAHIT'j T'?u'**\n\nANDTC=\nTHE HON'BLE MR.JusT1cE_$fa;sA\u00a2YA\ufb01ARAiAMA\n\nINCOME TAX A\u00a7PEA\u00a3 \u00a7O;1s7\/2004\n\nBETWEEN: A, _w\"T-.v\n\nSR1 B.G.AOARwAL}3=V.'g 3'\" \". \"'-wv\nITTAGI MARUTHI,GALLI;,O,V, *'w5v .\nHUBL1. V, QT; '' 'f-\n\n_. .... - x  Hg__ ._._ ~,_h; ... APPELLANT\n(By Sri A SHADKAR; ADV ; :_\n\nAND:\n\n \n\nINCOME TAX OFFICBRQE '\nWARD 1(3) '\n\n. . RES PONDENT\n\n'T\"~TH:s7\u00a7:{D}A. FILER) U\/S. 260A. OF THE INCOME\nTAX _ACT;_}l961 ARISING OUT OF ORDER DATED\n\n'V19.12:2Oo3' PASSED IN ITA NO.613fBANG\/2003 FOR\n\n\"THE AS.S_}'3'SSMENT YEAR 1998-99 PRAYING THAT THIS\n\n_'gI'iC'rN'-.BLE CQURT MAY BE PLEASED TO FDRMULATE THE'.\n\n2 \"Stf.B_ST..'%I%fTIAL QUESTION OF LAW STATED THEREIN AND\n  A37;LOW THE APPEAL AND SET ASIDE THE. URDER OF THE\n TRIBUNAL BEARING\" ITA NO.613\/BANG\/F2003 DATED\n\n\n\n19.12.2003 ON THE VALIDITY OF ASSESSMENT FOR THE\n\nASSESSMEN} YEAR 1998*99 ETC.\n\nems 3;':-A COMING ON FOR HEARING THI\u00a7~'~~\u00ab--DAi_;\u00a7'\n\nSABEAHIT 3., DELIVERED THE FOLLOWING:\nJUDGMENT\n<\/pre>\n<p>This appeal by the assessee ie fiie\ufb02 being ,_f<\/p>\n<p>aggrieved by the order passed by\ufb01the Inceme\u00e9taigu<\/p>\n<p>Appellate Tribunal, Bangaie\u00e9\u00e9 Be\ufb01chte5C;@ in<br \/>\n1&#8243;TA.No. 613\/Banga\/2003.  dggteci&#8221;&#8221;1&#8217;9;&#8217;j;2&#8243;;t2_oo3 ifar&#8221; the<\/p>\n<p>as$essment year 1998~\u00a79i dc\ufb01firminga the order<\/p>\n<p>(Appeals)}WiHu\u00a7li,?\u00a7Wh\u00a7viintutWWhed confirmed the<br \/>\norder p\u00e9sged thy ithe&#8221;-eS\ufb01\u00e9;sing authority&#8221; dated<\/p>\n<p>30.3.2001, iiiwhimin *t..h&#8221;e\u00ab.i.&#8217;-?transact,i.on declared in<\/p>\n<p>_ the vzeguier return\ufb01. as unexplaied investment<\/p>\n<p>A&#8221;gnder\u00bb$ectionE\u20ac9 of the Incomemtax Act, 1961.<\/p>\n<p>2, The Substantial questions of law arises<\/p>\n<p>&#8212;fgvfOr our determination in this appeal are,<\/p>\n<p>1) Whether the finding of the Income&#8211;Tazt<\/p>\n<p>Appellate Tribunal that the =$ai\u00a2_V-<\/p>\n<p>txansaction as revealed in the .:egula:ft_3<\/p>\n<p>returns filed are taxable under Sectionf69<\/p>\n<p>of the Income&#8211;tax Act,f&#8221;is4lperverSe_ or?<\/p>\n<p>arbitrary for non consideration &#8216;\u00a2f&#8217; the %f<\/p>\n<p>material fact as to yhether the ge\ufb01aa that<br \/>\nare sold under the traneactions relied age:<br \/>\nby the aesesse are the eame goods which had<br \/>\nbeen declared under ithe. application filed<br \/>\nunder Voluntary Vibeciaretionfi of Income<br \/>\nScheme 199?,_ which :was\ufb02,acce\u00a7ted by the<\/p>\n<p>revenue?\u00a7\n<\/p>\n<p>2)_What&#8221;a\u00a3d\u00e9r3,<\/p>\n<p>3. The abeve enbatantial questions of law<\/p>\n<p>have been answered_in 3Te.No.186\/2084 arising on<\/p>\n<p>&#8220;ident\u00a7eal facts and law decided on 22.9.2008 by<\/p>\n<p>Vda&#8217;detai1edVorde: pronounced separately.<\/p>\n<p>V4- ,Forw the reasons assigned in the said<\/p>\n<p>H&#8217;dd&#8221;a@peal,z\u00a3TA.No.186\/2004, which is applicable on<\/p>\n<p>\u00ab&#8221;ail*fonrs to the facts of the present case, we<\/p>\n<p>enssiier the substantial question of law No.1 in<\/p>\n<p>W<\/p>\n<p>affirmative and substantial question of law No}2<\/p>\n<p>as per final order and pass the following:___&#8221;*,VV&#8221;&#8216;*&#8221;t:&#8221;~l.V&#8221;&#8216;A<\/p>\n<p>ORDER<\/p>\n<p>The appeal is allowed. &#8216;I&#8217;.h&#8217;e&#8217; ~orde&#8211;:r  <\/p>\n<p>the Income-tax Appellate Trl.&amp;bu}?_i:alV, <\/p>\n<p>Bench &#8216;C&#8217; in ITA.No.aii&#8217;3;(aan\u00a7&#8217;a-1}\u00a7re{2\u00a7)_o\u00e9._;&#8217;wioi:<br \/>\nassessment year 1998-99   Vdoitrder<br \/>\npassed \ufb02y the Commiaazi&#8221;o_ne::ir  &#8220;&#8221;v3IV:\u00a7Ae:&#8217;ornbe~tax Hubli<br \/>\ndated 27.3.2003 w21oAA&#8230;i.x:1._1::&#8211;t1r.&#8217;r1,VA:ha&#8221;d&#8221;.io&#8217;einf&#8217;irmed the<br \/>\norder passed   &amp;  &#8221; &#8216;~&#8212;&#8212;*l;ficer, Ward-<br \/>\nI(3), Hublli. aside and the<br \/>\nmatter la ilfiioolne-tax Officer,<br \/>\nWard~I(3)&#8217;v}_  fresh orders in<\/p>\n<p>the light ofwthe VobsAe~.r&#8217;Va&#8211;tions made in the body<\/p>\n<p>  AA  &#8230;..\n<\/p>\n<p>     S<\/p>\n<p>Sdl-e__<br \/>\n311599.\n<\/p>\n<p>gu\u00e9\u00e9e<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karnataka High Court B G Agarwal vs Income Tax Officer on 22 September, 2008 Author: V.G Sabhahit S.N.Satyanarayana &#8230;.. &#8216;*1(D\u00a7&#8221;s;i,M=V\u00ab\u00e9DasHAcHALA, ADV.,) IN THE HIGH COURT OF KARNATAKA CIRCUIT BENCH AT DHARWI-RD DATED THIS THE 22&#8243;&#8216;DAY OF SEPTEMBER :O08CT17=&#8217; PRESENT .NW. THE HON&#8217;BLE MR.JUSTICE V;G{SAEHAHIT&#8217;j T&#8217;?u&#8217;** ANDTC= THE HON&#8217;BLE MR.JusT1cE_$fa;sA\u00a2YA\ufb01ARAiAMA INCOME TAX A\u00a7PEA\u00a3 \u00a7O;1s7\/2004 BETWEEN: A, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,20],"tags":[],"class_list":["post-135404","post","type-post","status-publish","format-standard","hentry","category-high-court","category-karnataka-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>B G Agarwal vs Income Tax Officer on 22 September, 2008 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/b-g-agarwal-vs-income-tax-officer-on-22-september-2008\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"B G Agarwal vs Income Tax Officer on 22 September, 2008 - Free Judgements of Supreme Court &amp; 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