THE PR.COMMISSIONER OF INCOME TAX-3 LUDHIANA vs. THE MOGA CENTRAL CO OP BANK LTD FEROZEPUR ROAD MOGA

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ITA/114/2018HC Punjab & HaryanaPHHC01118950201807 August 2018Bench: MR. JUSTICE R.C. KATHURIA (RETD.),MS. JUSTICE RITU BAHRI1 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court dismissed the appeal as withdrawn with liberty granted to the revenue to file an application for revival of the appeal as prayed for. The Court clarified that the withdrawal of the appeal by the revenue would not be considered an affirmation of the ITAT's order on merits. Furthermore, the legal issue, as claimed by the revenue, was left open to be adjudicated in an appropriate case. No finding was reached on the merits of the case.

What were the facts?

The Principal Commissioner of Income Tax-3, Ludhiana (the revenue) filed an appeal before the High Court of Punjab & Haryana at Chandigarh against an order of the Income Tax Appellate Tribunal (ITAT). The appeal was filed against The Moga Central Co-Op. Bank Ltd., Moga (the assessee). The assessment year(s) are not specified. The amount in dispute is stated to be ₹ 48,15,765/-. The revenue sought to withdraw the appeal based on a CBDT Circular.

What were the issues?

1. Whether the revenue is permitted to withdraw the appeal in view of CBDT Circular No. 03/2018, dated 11th July, 2018, given the tax effect involved? Assessee's contentions: No specific contentions are recorded for the assessee as the appeal was withdrawn by the revenue. Revenue's contentions: The revenue, through its learned counsel, stated that due to the tax effect of ₹ 48,15,765/-, it had instructions to withdraw the appeal in accordance with CBDT Circular No. 03/2018, dated 11th July, 2018. The revenue also prayed for liberty to file an application for revival of the appeal if something survives therein.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH ITA-114-2018 (O&M) Date of Decision: 7.8.2018 The Principal Commissioner of Income Tax-3, Ludhiana ...Appellant. Versus The Moga Central Co-Op. Bank Ltd., Moga ...Respondent. CORAM:- HON'BLE MR. JUSTICE AJAY KUMAR MITTAL. HON'BLE MR. JUSTICE AVNEESH JHINGAN. PRESENT: Mr. Rajesh Katoch, Sr. Standing Counsel for the appellant. AJAY KUMAR MITTAL, J. 1. Learned counsel for the appellant-revenue states that since the tax effect involved is ` 48,15,765/-, he has instructions to withdraw the present appeal in view of Circular No.03/2018, dated 11th July, 2018, issued by the Central Board of Direct Taxes, New Delhi. However, he has prayed that liberty be granted to the revenue to file an application for revival of the appeal in case something survives therein. 2. Dismissed as withdrawn with liberty as prayed for. It is, however, clarified that withdrawal of the appeal by the revenue shall not be taken to be affirmation of order of the Tribunal on merits. Further, the legal issue as claimed by the revenue is being left open to be adjudicated in an appropriate case. (AJAY KUMAR MITTAL) JUDGE August 7, 2018 (AVNEESH JHINGAN) gbs JUDGE Whether Speaking/Reasoned Yes/No Whether Reportable Yes/No GURBACHAN SINGH 2018.08.08 12:56 I attest to the accuracy and integrity of this document

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