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

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ITA/218/2009HC KeralaKLHC01024979200904 October 2018Bench: HONOURABLE MR.JUSTICE K.VINOD CHANDRAN,HONOURABLE MR. JUSTICE ASHOK MENON3 pages
AI SummaryWithdrawn

What did the High Court hold?

The Tribunal (High Court in this instance, hearing the appeal from the ITAT) permitted the Revenue to withdraw the appeal. The reasoning provided is that the learned Standing Counsel for the Government of India (Taxes) submitted, 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. Consequently, the appeal was permitted to be withdrawn, leaving open the questions of law. No specific findings were made on the merits of the original dispute.

What were the facts?

This is an Income Tax Appeal filed by the Commissioner of Income Tax, Cochin, against an order passed by the Income Tax Appellate Tribunal (ITAT), Cochin Bench, in ITA No. 35/2000. The respondent is The Federal Bank Ltd. The appeal was heard by the High Court of Kerala on October 4, 2018. The learned Standing Counsel for the Government of India (Taxes) submitted, on instructions, that the Revenue wished to withdraw the appeal based on the litigation policy framed by the Central Board of Direct Taxes.

What were the issues?

1. Whether the Revenue should be permitted to withdraw the appeal. This question arises from the submission made by the Revenue's counsel. The Revenue argued that withdrawal is sought based on the litigation policy of the Central Board of Direct Taxes. The judgment does not record any arguments from the assessee on this specific point.

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. 218 of 2009 AGAINST THE ORDER/JUDGMENT IN ITA 35/2000 of I.T.A.TRIBUNAL,COCHIN BENCH APPELLANT/S: THE COMMISSIONER OF INCOME TAX, COCHIN. BY ADVS. SRI.P.K.R.MENON,SENIOR COUNSEL, GOI(TAXES) SRI.JOSE JOSEPH SC FOR INCOME TAX RESPONDENT/S: THE FEDERAL BANK LTD. FEDERAL TOWERS, ALWAYE-1. BY ADV. SRI.JOSEPH KODIANTHARA (SR.) THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 04.10.2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

ITA 218/2009 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 218/2009 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 1986-87. 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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