Commissioner Of Income Tax Gwalior vs. M/S Agro Solvent Product Private

ITA/6/2009HC Madhya Pradesh06 December 2018Bench: HON'BLE SHRI JUSTICE SHEEL NAGU1 pages

For Petitioner: Sameer Kumar Jain,Sangam Jain,Prakhar GoyalFor Respondent: T.C.Singhal,A.K.Singhal,Yogesh Singhal

AI SummaryWithdrawn

What did the High Court hold?

The Tribunal noted that the learned standing counsel for the Revenue did not dispute that the tax liability involved was less than Rs. 50 Lakhs. This was corroborated by the perusal of the record. In view of Circular F.No. 390/Misc/116/2017-JC dated 11/07/2018, issued by the Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes & Customs, which enhanced the tax limit for challenging appeals to Rs. 50 Lacs and made it applicable to existing appeals, the learned standing counsel for the appellant Revenue sought and was permitted to withdraw the appeal. Accordingly, the appeal was dismissed as withdrawn.

What were the facts?

This case involves an appeal filed by the Revenue (Commissioner of Income Tax, Gwalior) against an order concerning M/s Agro Solvent Product Private. The appeal was filed before the High Court of Madhya Pradesh. The learned standing counsel for the Revenue acknowledged that the tax liability in dispute was less than Rs. 50 Lakhs. This fact was also corroborated by the record. The appeal was filed in 2009.

What were the issues?

1. Whether the appeal filed by the Revenue is maintainable given the tax liability involved is less than Rs. 50 Lakhs, in light of the revised monetary limits for appeals. The Revenue, through its learned standing counsel, did not dispute that the tax liability was less than Rs. 50 Lakhs. Consequently, the Revenue sought to withdraw the appeal in view of Circular F.No. 390/Misc/116/2017-JC dated 11/07/2018, which enhanced the tax limit for challenging appeals to Rs. 50 Lacs and was made applicable to existing appeals.

AI-generated summary — verify with the full judgment below

(SHEEL NAGU) JUDGE (VIVEK AGARWAL) JUDGE The High Court Of Madhya Pradesh ITA-6-2009 (COMMISSIONER OF INCOME TAX GWALIOR Vs M/S AGRO SOLVENT PRODUCT PRIVATE) Gwalior, Dated : 06-12-2018 Shri D.P.S.Bhadoria, learned standing counsel for the appellant. Learned standing counsel for the Income Tax does not dispute that the tax liability involved herein is less than Rs.50 Lakhs which is further corroborated by perusal of the record that tax liability is less than Rs.50 Lakh. Therefore, in view of the circular F.No. 390/Misc/116/2017-JC dated 11/07/2018 issued by Ministry of Finance, Department of Revenue Central Board of Indirect Taxes & Customs whereby tax limit for challenge in an appeal has been enhanced to Rs.50 Lacs and the same has been made applicable to existing appeals too, the learned standing counsel for the appellant Revenue seeks and is permitted to withdraw this appeal. Accordingly, appeal stands dismissed as withdrawn. SP

1 ITA-6-2009 SANJEEV KUMAR PHANSE 2018.12.10 17:48:15 +05'30'

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