THE COMMISSIONER OF INCOME -TAX vs. CANARA BANK, GORAYA

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ITA/148/2019HC Punjab & HaryanaPHHC01010521201907 February 2023Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA1 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court allowed the application for withdrawal of the appeal. The Court noted that the designated authority had determined the amount payable under the Voluntary Scheme for Verification (VSV) Act, which had been paid by the respondent-assessee, and Form No. 5 was issued on 02.11.2021. Based on this submission, the Court found no impediment to allowing the withdrawal. Consequently, the main appeal was dismissed as withdrawn. The operative direction was the dismissal of the appeal as withdrawn.

What were the facts?

The Commissioner of Income Tax (appellant) filed an appeal before the High Court of Punjab and Haryana at Chandigarh against an order related to Canara Bank, Goraya (respondent-assessee). The appeal was filed under ITA-148-2019. The respondent-assessee filed an application (CM-17001-CII-2022) for withdrawal of the present appeal. The reason for withdrawal was that the designated authority had determined the amount payable under the Voluntary Scheme for Verification (VSV) Act, which had been paid by the assessee, and Form No. 5 was issued on 02.11.2021.

What were the issues?

1. Whether the appeal filed by the appellant (Commissioner of Income Tax) should be dismissed as withdrawn, considering the application filed by the respondent-assessee. Assessee's Contention: The respondent-assessee sought withdrawal of the appeal because the amount payable under the Voluntary Scheme for Verification (VSV) Act had been determined and paid, and Form No. 5 had been issued. This implies that the matter under the VSV Act was settled. Revenue's Contention: The judgment does not record any specific contention from the revenue regarding the withdrawal application. However, the revenue is the appellant in the main case.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 240-2 CM-17001-CII-2022 in/and ITA-148-2019 (O&M) Date of decision:- 07.02.2023 The Commissioner of Income Tax .... Appellant Vs Canara Bank, Goraya ...Respondent CORAM: HON'BLE MS. JUSTICE RITU BAHRI HON'BLE MRS. JUSTICE MANISHA BATRA Present: Mr. Sukant Gupta, Senior Standing counsel for the applicant/appellant. Mr. Sachin Bhardwaj, Advocate for the respondent. Ritu Bahri, J. (Oral) CM-17001-CII-2022 Prayer in the application is for withdrawal of the present appeal keeping in view that the designated authority has determined the amount payable under the provision of VSV Act, which has been paid by the respondent-assessee and form No. 5 has been issued on 02.11.2021, Annexure CM-1. Application is allowed. Main case is taken on Board today itself. Main case Dismissed as withdrawn. ( RITU BAHRI ) JUDGE 07.02.2023

pooja saini ( MANISHA BATRA ) JUDGE Whether speaking/reasoned : Yes/No Whether reportable : Yes/No POOJA SAINI 2023.02.14 16:28 I attest to the accuracy and integrity of this order/judgment

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