COMMISSIONER OF INCOME TAX JALANDHAR vs. M/S ZOLOTO INDUSTRIES

PDF · subscribers
ITA/13/2013HC Punjab & HaryanaPHHC01104976201302 July 2018Bench: MR. JUSTICE SURYA KANT,MR. JUSTICE SUDIP AHLUWALIA1 pages
AI SummaryDismissed

What did the High Court hold?

The High Court dismissed the appeal as not pressed. The Revenue's counsel stated that due to the tax effect being ₹29,85,090/-, which is below the threshold of ₹50 lacs stipulated in CBDT Circular No. 3/2018, they did not want to press the appeal on merits. The Court accepted this submission and dismissed the appeal accordingly. Liberty was granted to the Revenue to seek revival of the appeal if circumstances changed. The question of law was also kept open.

What were the facts?

The appeal was filed by the Commissioner of Income Tax-II, Jalandhar (Revenue) against M/s Zoloto Industries (Regd.), Jalandhar (Assessee). The assessment year(s) are not specified. The appeal challenges an order passed by the Income Tax Appellate Tribunal (ITAT), though the specific ITAT order or its date is not mentioned. The amount in dispute, referred to as the tax effect, is ₹29,85,090/-. The procedural history involves the Revenue filing this appeal before the High Court of Punjab & Haryana at Chandigarh.

What were the issues?

1. Whether the appeal should be pressed on merits, considering the tax effect involved. The Revenue argued that the tax effect in this case is ₹29,85,090/-. In light of Circular No. 3/2018 dated 11.07.2018 issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes (CBDT), which specifies a monetary limit for filing appeals, the Revenue stated that they do not wish to press the appeal on merits as the tax effect is less than ₹50 lacs. The Assessee's arguments are not recorded in the judgment.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH **** ITA No.13 of 2013 (O&M) Date of Decision: 03.10.2018 **** The Commissioner of Income Tax-II, Jalandhar ..... Appellant Versus M/s Zoloto Industries (Regd.), Jalandhar

..... Respondent CORAM: HONBLE MR. JUSTICE SURYA KANT HONBLE MR. JUSTICE SUDIP AHLUWALIA Present: Mr. Vivek Sethi, Advocate, for the appellant. SURYA KANT J. (ORAL) (1) Learned counsel for Revenue states that the tax effect involved in this case is `29,85,090/- and in view of the recent Circular No.3/2018 dated 11.07.2018 issued by the Ministry of Finance, Department of Revenue, Central Board Direct Taxes, the tax effect being less than `50 lacs, he does not want to press this appeal on merits. (2) In view of the CBDT Circular, the instant appeal is dismissed as not pressed. As prayed for by learned counsel for the appellant, liberty is granted to the Revenue to seek revival of the appeal, if need be, in the changed circumstances. The question of law is also kept open.

(SURYA KANT)

JUDGE 03.10.2018

(SUDIP AHLUWALIA) Bhumika JUDGE 1. Whether speaking/reasoned: Yes 2. Whether reportable: No Bhumika Bhati 2018.10.05 12:33 I attest to the accuracy and integrity of this document

Recent GST High Court judgments

Search GST case law →