M/S STEEL STRIPS WHEELS LIMITED vs. COMMISSIONER OF INCOME TAX CHANDIGARH AND ANR

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ITA/144/2014HC Punjab & HaryanaPHHC01109269201422 September 2026Bench: MR. JUSTICE SUNISH BINDLISH,MR. JUSTICE DEEPAK SIBAL1 pages
AI SummaryAllowed

What did the High Court hold?

The Tribunal held that the present appeal is allowed in terms of the judgment of a Division Bench of the High Court dated 26.02.2026 in ITA-517-2008, concerning M/s Vardhman Textiles Ltd. vs. Commissioner of Income Tax and another. The court noted that learned counsel for both the appellant-assessee and the respondent-revenue agreed that the appeal was covered in favour of the assessee by the aforementioned judgment. Consequently, the questions of law raised through this appeal were answered in favour of the appellant-assessee, and the appeal itself was allowed in terms of the law laid down in the Vardhman Textiles Ltd. case. Any pending miscellaneous applications were also disposed of in light of this consensus. The specific reasoning from the Vardhman Textiles Ltd. case was not detailed in this excerpt, but it formed the basis for the decision.

What were the facts?

The assessee, M/s Steel Strips Wheels Ltd., filed an appeal before the High Court of Punjab & Haryana against an order passed by the Commissioner of Income Tax. The appeal concerned assessment year(s) not explicitly stated in the provided text. The procedural history indicates that the parties, through their counsel, agreed that the present appeal should be decided in line with a previous judgment of a Division Bench of the same court dated 26.02.2026 in ITA-517-2008, concerning M/s Vardhman Textiles Ltd. vs. Commissioner of Income Tax and another. The amount in dispute is not specified. Miscellaneous applications, if any, were also to be disposed of in light of this consensus.

What were the issues?

1. Whether the questions of law raised in the present appeal are to be answered in favour of the appellant-assessee, considering the consensus reached by the parties? (Question of law) 2. Whether the present appeal is allowed in terms of the law laid down in M/s Vardhman Textiles Ltd. vs. Commissioner of Income Tax and another (supra)? (Question of law) Assessee's Contention: The assessee, through its senior advocate, argued that the present appeal should be covered in favour of the appellant-assessee through the judgment of a Division Bench of this Court dated 26.02.2026 in ITA-517-2008 (M/s Vardhman Textiles Ltd. vs. Commissioner of Income Tax and another). The assessee relied on this precedent. Revenue's Contention: The revenue, represented by senior standing counsel, agreed with the assessee's submission that the appeal should be decided based on the aforementioned judgment.

AI-generated summary — verify with the full judgment below

IN THE HIGH

Sr. No. 103(2) M/s Steel Strips W Commissioner of I

CORAM : HON

HON

Present : Mr. A Mr. S

Mr. R

Mr. V

for th DEEPAK SIBAL, 1.

Learn covered in favour of this Court dated Commissioner of In 2.

In th through this appea is allowed in term (supra). 3.

Pendi

22.09.2026 shamsher

H COURT OF PUNJAB & HARYA

Wheels Ltd.

Versus Income Tax, Chandigarh and anot N'BLE MR. JUSTICE DEEPAK S N'BLE MR. JUSTICE SUNISH BI Akshay Bhan, Senior Advocate, w Shantanu Bansal, Advocate, for th Ranvijay Singh, Senior Standing C Vidul Kapoor, Junior Standing Co he respondent(s)-revenue. * * * * * J. (Oral) ned counsel for the parties agr of the appellant-assessee through d 26.02.2026 in ITA-517-2008- M Income Tax and another. he light of the above consensus al are answered in favour of the ap ms of the law laid down in M/s

ing miscellaneous application(s),

Whether speaking/reasoned : Yes / No Whether reportable : Yes / No

ANA AT CHANDIGARH

ITA-144-2014 (O&M) Date of decision : 22.09.2026

.…. Petitioner ther

..... Respondents IBAL INDLISH with he petitioner Counsel ounsel, ree that the present appeal is h judgment of a Division Bench M/s Vardhman Textiles Ltd. vs.

s, the questions of law raised ppellant-assessee and the appeal Vardhman Textiles Ltd.’s case

if any, also stand disposed of.

[DEEPAK SIBAL]

JUDGE [SUNISH BINDLISH] JUDGE o o SHAMSHER SINGH 2026.09.24 11:38 I attest to the accuracy and integrity of this document Punjab and haryana high court, chandigarh

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