THE COMMISSIONER OF INCOME TAX, vs. THE FEDERAL BANK LTD

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ITA/176/2009HC KeralaKLHC01024937200904 October 2018Bench: HONOURABLE MR.JUSTICE K.VINOD CHANDRAN,HONOURABLE MR. JUSTICE ASHOK MENON3 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court permitted the Revenue to withdraw the appeal. The reasoning provided is that the learned Standing Counsel for the Revenue, on instructions, submitted that the Revenue wished to withdraw the appeal based on the litigation policy of the Central Board of Direct Taxes. Consequently, the appeal was permitted to be withdrawn. The judgment explicitly states that the questions of law are left open. No specific findings were made on the merits of the case, and no operative directions were issued other than the withdrawal of the appeal.

What were the facts?

This is an appeal filed by the Revenue, The Commissioner of Income Tax, Cochin, against an order passed by the Income Tax Appellate Tribunal (ITAT), Cochin Bench, dated June 30, 2003, in ITA No. 37/2000. The respondent in the appeal is The Federal Bank Ltd. The High Court of Kerala at Ernakulam heard the appeal on October 4, 2018. The specific assessment year(s) and the amount in dispute are not recorded in the judgment. The procedural history leading to this appeal is not detailed, other than it originates from an ITAT order.

What were the issues?

The High Court was to decide the appeal filed by the Revenue. The judgment does not record any specific questions of law that were framed for decision. The Revenue, through its learned Standing Counsel, sought permission to withdraw the appeal. The Revenue's contention was based on the litigation policy framed by the Central Board of Direct Taxes. No arguments were recorded for the Respondent (The Federal Bank Ltd.).

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE K.VINOD CHANDRAN & THE HONOURABLE MR. JUSTICE ASHOK MENON THURSDAY ,THE 04TH DAY OF OCTOBER 2018 / 12TH ASWINA, 1940 ITA.No. 176 of 2009 AGAINST THE ORDER/JUDGMENT IN ITA 37/2000 of I.T.A.TRIBUNAL,COCHIN BENCH DATED 30-06-2003 APPELLANT/S: THE COMMISSIONER OF INCOME TAX, COCHIN. BY ADV. SRI.JOSE JOSEPH, SC, FOR INCOME TAX RESPONDENT/S: THE FEDERAL BANK LTD FEDERAL TOWERS, ALWAYE-1. BY ADVS. SRI.JOSEPH KODIANTHARA (SR.) SRI.TERRY V.JAMES THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 04.10.2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

ITA 176/2009 2 JUDGMENT Vinod Chandran, J. The learned Standing Counsel, Government of India (Taxes) submits, on instructions, that the Revenue may be permitted to withdraw the appeal on the basis of the litigation policy framed by the Central Board of Direct Taxes. Hence, the appeal is permitted to be withdrawn, leaving open the questions of law. Sd/- K.VINOD CHANDRAN JUDGE Sd/- ASHOK MENON JUDGE

ITA 176/2009 3 APPENDIX PETITIONER'S/S EXHIBITS: ANNEXURE A COPY OF ORIGINAL ASSESSMENT ORDER U/.143(3)R.W.S. 147 DATED 31.3.1997 ISSUED BY THE ASSESSING OFFICER FOR THE ASST. YEAR 1988-89. ANNEXURE B COPY OF THE ORDER DATED 3.11.1999 OF THE COMMISSIONER OF INCOME TAX (APPEALS). ANNEXURE C COPY OF THE ORDER OF THE INCOME TAX APPELLATE TRIBUNAL IN ITA NOS.35,36 & 37/COCH/2000 AND ITA NO.31/COCH/97 DATED 30.6.2003.

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