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

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ITA/116/2002HC Punjab & HaryanaPHHC01055005200229 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The High Court dismissed the appeal as withdrawn.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 court granted the liberty sought by the appellant-revenue to file an application for revival of the appeal, in case something survives therein. The reasoning for dismissal is based on the appellant-revenue's submission that the tax effect was below the prescribed monetary limit for appeals, as per the relevant CBDT circulars. The court also noted that since the main case was dismissed, any pending C.M. Application, if any, also stood disposed of. The ratio decidendi is that appeals can be withdrawn by the revenue based on monetary limits, with potential for revival under specific circumstances. No specific issue was decided on merits.

What were the facts?

The appeal was filed by the Commissioner of Income Tax, Rohtak (appellant-revenue) against M/s. Lakshmi Precision Screw Ltd. (respondent-assessee). The assessment year(s) are not specified in the provided text. The appeal challenges an order or action from an unspecified authority. The amount in dispute is not stated. The procedural history is that the appellant-revenue, citing the tax effect being below the monetary limit prescribed by CBDT Circular No.3 of 2018 and Circular No.17 of 2019, sought to withdraw the appeal. Liberty was requested to revive the appeal if circumstances changed.

What were the issues?

1. Whether the appeal should be dismissed as withdrawn by the appellant-revenue, given the tax effect is below the prescribed monetary limit for appeals as per CBDT Circulars No.3 of 2018 and No.17 of 2019. Contentions: Assessee: No specific contentions are recorded in the provided text. Revenue: The appellant-revenue stated that the tax effect involved is less than the monetary limit prescribed in Circular No.3 of 2018, as amended by Circular No.17 of 2019, and therefore, it has instructions to withdraw the present appeal. It further 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

447 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITA No.116 of 2002 Date of decision : 29.10.2019 The Commissioner of Income Tax, Rohtak ...... Appellant versus M/s. Lakshmi Precision Screw Ltd, Hisar Road, 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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