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

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ITA/152/2019HC Punjab & HaryanaPHHC01010511201907 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 present appeal. The reasoning provided was 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 Consequently, the main case (the appeal) was dismissed as withdrawn. The principle derived is that if parties agree to withdraw an appeal due to a settlement under a specific scheme like the VSV Act, and the conditions of that scheme are met, the court will allow such withdrawal.

What were the facts?

The appeal was filed by the Commissioner of Income Tax against an order concerning Canara Bank, Goraya. An application was filed by the petitioner (Commissioner of Income Tax) 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 Settlement (VSV) Act. The respondent-assessee had paid this determined amount, and Form No. 5 was issued on 02.11.2021. The application for withdrawal was allowed by the High Court.

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issue before the High Court was whether the appeal filed by the Commissioner of Income Tax should be permitted to be withdrawn.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 High Court had to decide on the application for withdrawal of the appeal. The revenue, through its Senior Standing Counsel Mr. Yogesh Putney, sought to withdraw the appeal. The judgment does not record any specific arguments from the respondent-assessee on this procedural matter, other than their participation in the VSV scheme. The core of the matter was the acceptance of the withdrawal request based on the settlement under the VSV Act.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 240 CM-17002-CII-2022 in/and ITA-152-2019 (O&M) Date of decision:- 07.02.2023 The Commissioner of Income Tax .... Petitioner Vs Canara Bank, Goraya ...Respondent CORAM: HON'BLE MS. JUSTICE RITU BAHRI HON'BLE MRS. JUSTICE MANISHA BATRA Present: Mr. Yogesh Putney, Senior Standing Counsel for the appellant. Mr. Sushant Gupta, Senior Standing counsel for the revenue. Ritu Bahri, J. (Oral) CM-17002-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 2023.02.15 11:00 I attest to the accuracy and integrity of this order/judgment

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