THE PRINCIPAL COMMISSIONER OF INCOME TAX, FARIDABAD vs. M/S NHPC LTD.

ITA/250/2022HC Punjab & HaryanaPHHC01084705202215 October 2024Author: MR. JUSTICE SANJEEV PRAKASH SHARMA,MR. JUSTICE ALOK JAIN3 pages
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Facts

The appeal was filed by the Principal Commissioner of Income Tax, Faridabad (Revenue) against M/s NHPC Ltd. (Assessee). The case pertains to the assessment year(s) not explicitly stated in the judgment. The order or action under challenge is the appeal filed by the Revenue. The procedural history involves the Revenue's submission that due to revised monetary limits for filing appeals, as per Circular No. 9/2024 dated 17.09.2024 issued by the Central Board of Direct Taxes, the present appeal does not meet the threshold. The Revenue, therefore, prayed for withdrawal of the appeal.

Held

The Tribunal allowed the prayer for withdrawal of the appeal. The Revenue submitted that in view of the enhanced monetary limits for filing appeals, as per Circular No. 9/2024 dated 17.09.2024, the present appeal did not meet the revised threshold. The Revenue specifically stated that the case did not fall within the exception clause of Circular No. 5/2024. Consequently, the learned counsel for the Revenue prayed for the withdrawal of the present appeal. The Tribunal, acceding to this request, allowed the prayer and dismissed the appeal. All pending applications were also disposed of accordingly. The ratio decidendi is that appeals filed by the Revenue, which no longer meet the revised monetary limits prescribed by CBDT circulars, can be withdrawn by the Revenue.

Key Issues

1. Whether the present appeal, filed by the Revenue, is maintainable in light of the revised monetary limits for filing appeals as stipulated in Circular No. 9/2024 dated 17.09.2024, issued by the Central Board of Direct Taxes, under Section 260A of the Income-tax Act, 1961? Assessee's contention: The Assessee did not present any arguments as the Revenue itself sought withdrawal of the appeal. The judgment records no argument for the assessee. Revenue's contention: The Revenue contended that the monetary limits for filing appeals before the Income Tax Appellate Tribunal, High Court, and Supreme Court have been enhanced by Circular No. 9/2024. The present appeal, in view of these revised limits, does not fall within the exception clause of Circular No. 5/2024 and therefore, the Revenue prayed for its withdrawal.

Sections Cited

260A

AI-generated summary — verify with the full judgment below

ITA-250-2022 ( 102-3 IN TH

THE PR. COM

M/S NHPC L CORAM: H

H Present: M

f

M M M M

f

SANJEEV P

1.

Learned bearing Direct departm Suprem been am manage l (O&M) HE HIGH COURT OF PUNJA **** HON’BLE MR. JUSTICE SAN HON’BLE MR. JUSTICE ALO **** Mr. Varun Issar, Sr. Standing Co for the appellant/Revenue. Mr. Ved Jain, Advocate (through Mr. Viney Kumar, Advocate Mr. Nischay Kantoor, Advocate Ms. Soniya Dodeja, Advocate for the respondent/NHPC. **** RAKASH SHARMA, J.(Oral) d counsel for the appellant sub g No.9/2024 dated 17.09.2024 i Taxes, the monetary limits fo ment before the ITAT, High Cou me Court have been enhanced a mended and following steps have e litigations:

“ 2. As a step towa litigation, it has been decided b AB AND HARYANA AT RH ITA-250-2022 (O&M) Date of Decision: 15.10.2024 AX FARIDABAD . . . . Appellant . . . . Respondent NJEEV PRAKASH SHARMA OK JAIN ounsel h VC) with ) bmits that in view of Circular issued by the Central Board of or filing of the appeals by the urt and SLP/Appeals before the and the Circular No.5/2024 has e been taken with the purp

The order continues below.

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