PR. COMMISSIONER OF INCOME TAX-6 vs. MKM FINSEC PVT. LTD.

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ITA/996/2017HC DelhiDLHC01446112201712 September 2018Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE CHANDER SHEKHAR1 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court took the statement of the Revenue's counsel on record. The Court disposed of the appeal without answering the substantial question of law. It was clarified that the issue raised in the appeal is left open. The Court also clarified that if the present appeal is covered by an exception to the circular, the appellant (Revenue) would be at liberty to file an application for revival. No specific finding was given on the merits of the case, and no operative directions were issued other than disposing of the appeal as withdrawn based on the tax effect.

What were the facts?

This is an appeal filed by the Pr. Commissioner of Income Tax-6 (Revenue) against an order of the Income Tax Appellate Tribunal (ITAT). The respondent is MKM Finsec Pvt. Ltd. (Assessee). The assessment year(s) are not specified in the provided text. The appeal challenges a decision of the ITAT, the details of which are not provided. The procedural history leading to this High Court appeal is not detailed, other than the fact that the Revenue has filed the present appeal.

What were the issues?

The High Court was to decide a substantial question of law. However, the specific question of law is not recorded in the judgment. The Revenue, through its counsel, stated that the tax effect in the present appeal is below Rs. 50,00,000/-. In view of Circular No. 3/2018, dated 11.7.2018, the Revenue requested that the appeal be disposed of without answering the substantial question of law, clarifying that the issue raised would be left open. The Assessee's contentions are not recorded in the judgment.

AI-generated summary — verify with the full judgment below

$~9 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 996/2017

PR. COMMISSIONER OF INCOME TAX-6 ..... Appellant Through: Mr. Ashok Manchanda, Senior Standing Counsel

versus

MKM FINSEC PVT. LTD.

..... Respondent

Through

CORAM: HON'BLE MR. JUSTICE SANJIV KHANNA HON'BLE MR. JUSTICE CHANDER SHEKHAR

O R D E R %

12.09.2018

Learned counsel for the Revenue states that the tax effect in the present appeal is below Rs.50,00,000/- and in view of circular No.3/2018, dated 11.7.2018, the present appeal may be disposed of, without answering the substantial question of law. It may, however, be clarified that the issue raised is left open.

Taking the statement on record, the appeal is disposed of, without answering the substantial question of law. We clarify that the issue raised is left open. We also clarify that in case the present appeal is covered by an exception, the appellant would be at liberty to file an application for revival.

SANJIV KHANNA, J

CHANDER SHEKHAR, J SEPTEMBER 12, 2018/tp

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