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

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ITA/149/2019HC Punjab & HaryanaPHHC01010524201907 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 VSV Act, which had been paid by the respondent-assessee, and Form No. 5 had been issued. Consequently, the appeal was dismissed as withdrawn. The operative direction was the dismissal of the appeal. No specific issues regarding the Income Tax Act were decided on merits.

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). The appeal was filed under ITA-149-2019. A separate application, CM-17003-CII-2022, was filed by the appellant seeking withdrawal of the present appeal. The reason for withdrawal was that the designated authority had determined the amount payable under the Voluntary Scheme of Verification (VSV) Act, which had been paid by the respondent-assessee. Form No. 5 was issued on 02.11.2021, indicating the resolution under the VSV Act.

What were the issues?

The primary issue before the High Court was whether the appeal filed by the Commissioner of Income Tax should be permitted to be withdrawn. The appellant sought to withdraw the appeal based on the settlement reached under the VSV Act. The respondent-assessee had paid the determined amount and received Form No. 5. The High Court had to decide whether to allow the withdrawal of the appeal. The appellant argued that the matter was resolved under the VSV Act and therefore the appeal was rendered infructuous. The respondent likely supported the withdrawal. No specific provisions of the Income Tax Act were debated as the appeal was withdrawn.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 240-3 CM-17003-CII-2022 in/and ITA-149-2019 (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-17003-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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