PR. COMMISSIONER OF INCOME TAX, HISAR vs. M/S. BASESAR PROPERTIES PVT. LTD., 466, 1ST FLOOR, AUTO MARKET, HISAR.

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ITA/124/2018HC Punjab & HaryanaPHHC01118961201810 August 2018Bench: MR. JUSTICE AJAY KUMAR MITTAL,MR. JUSTICE AVNEESH JHINGAN1 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The High Court dismissed the appeal as withdrawn with liberty granted to the revenue to file an application for revival of the appeal as prayed for.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 claimed by the revenue was explicitly left open to be adjudicated in an appropriate future case. The operative direction was the dismissal of the appeal as withdrawn, with specific liberty granted to the revenue.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax, Hisar (the revenue) against M/s Basesar Properties Pvt. Ltd., Hisar (the assessee). The appeal challenged an order passed by the Income Tax Appellate Tribunal (ITAT). The tax effect involved in the appeal was ₹48,86,883/-. The revenue sought to withdraw the appeal based on Circular No. 03/2018 dated 11th July 2018, issued by the Central Board of Direct Taxes, New Delhi.

What were the issues?

1. Whether the revenue is permitted to withdraw the appeal based on the tax effect and CBDT Circular No. 03/2018, and if so, with what liberty. The revenue argued that due to the tax effect being below the threshold stipulated in CBDT Circular No. 03/2018, they had instructions to withdraw the appeal. They prayed for liberty to file an application for revival of the appeal if something further survived. The judgment does not record any arguments from the assessee.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH ITA-124-2018 (O&M) Date of Decision: 10.8.2018 Principal Commissioner of Income Tax, Hisar ...Appellant. Versus M/s Basesar Properties Pvt. Ltd., Hisar ...Respondent. CORAM:- HON'BLE MR. JUSTICE AJAY KUMAR MITTAL. HON'BLE MR. JUSTICE AVNEESH JHINGAN. PRESENT: Mr. Yogesh Putney, 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 ` 48,86,883/-, 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 10, 2018 (AVNEESH JHINGAN) gbs JUDGE Whether Speaking/Reasoned Yes/No Whether Reportable Yes/No GURBACHAN SINGH 2018.08.14 14:31 I attest to the accuracy and integrity of this document

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