COMMISSIONER OF INCOME TAX vs. M/S LAKSHMI PRECISION SCREWS LTD

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ITA/115/2002HC Punjab & HaryanaPHHC01037332200229 October 2019Bench: MR. JUSTICE AJAY TEWARI,MRS. JUSTICE ALKA SARIN1 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court dismissed the appeal as withdrawn. The reasoning was based on the submission by the revenue's counsel that the tax effect was below the monetary limit stipulated in the CBDT Circulars. The Court granted the revenue the liberty to file an application for revival of the appeal, should circumstances warrant it. No specific issue was decided on merits. The operative direction was to dismiss the appeal as withdrawn with liberty granted as prayed for. Any pending civil miscellaneous application was also disposed of as a consequence of the main appeal being dismissed.

What were the facts?

The appeal was filed by the Commissioner of Income Tax, Rohtak (the revenue) against M/s. Lakshmi Precision Screw Ltd., Rohtak (the assessee). The assessment year(s) are not specified in the judgment. The appeal challenges an order or action that is not detailed in the provided text. The procedural history is that the revenue's counsel stated they had instructions to withdraw the appeal due to the tax effect being below the monetary limit prescribed by CBDT Circulars. The revenue also prayed for liberty to revive the appeal if circumstances changed.

What were the issues?

1. Whether the appeal should be dismissed as withdrawn, considering the tax effect is below the prescribed monetary limit for appeals by the revenue. The revenue argued that as per Circular No.3 of 2018, amended by Circular No.17 of 2019 and further clarified by Letter No.F.No.279/Misc/M-93/2018-ITJ dated 20.08.2019, the appeal should be withdrawn because the tax effect involved is less than the monetary limit. The revenue requested liberty to revive the appeal if any aspect of it survived. The assessee's arguments are not recorded in the judgment. The judgment does not record any argument for the respondent.

AI-generated summary — verify with the full judgment below

447 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITA No.115 of 2002 Date of decision : 29.10.2019 The Commissioner of Income Tax, Rohtak ...... Appellant versus M/s. Lakshmi Precision Screw Ltdl, Rohtak. ...... Respondent CORAM : HON'BLE MR.JUSTICE AJAY TEWARI HON'BLE MRS.JUSTICE ALKA SARIN *** Present : Mr.Chetan Sood, Advocate and Mr.Sandeep Goyal, Advocate for the appellant. Mr.Akshay Bhan, Sr. Advocate with Mr.Alok Mittal, Advocate for the respondent. *** AJAY TEWARI, J. (Oral) 1. Learned counsel for the appellant-revenue states that since the tax effect involved is less than the monetary limit as prescribed in Circular No.3 of 2018 dated 11.07.2018 issued by the Central Board of Direct Taxes, further amended vide Circular No.17 of 2019 dated 08.08.2019 read with Letter No.F.No.279/Misc/M-93/2018-ITJ dated 20.08.2019, he has instructions to withdraw the present appeal. However, he prayed that liberty be granted to the appellant-revenue to file an application for revival of the appeal, in case something survives therein. 2. Dismissed as withdrawn with liberty as prayed for. 3. Since the main case has been dismissed, the pending C.M. Application, if any, also stands disposed of. (AJAY TEWARI) JUDGE (ALKA SARIN) JUDGE 29.10.2019 raman Whether speaking/reasoned Yes/No Whether Reportable : Yes/No RAMAN KUMAR 2019.10.31 09:41 I attest to the accuracy and integrity of this document

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