THE COMMISSIONER OF INCOME TAX (EXEMPTIONS), CHANDIGARH vs. M/S PUNJAB COOPERATIVE BANK EMPLOYEES PENSION FUND TRUST

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ITA/225/2019HC Punjab & HaryanaPHHC01026194201909 September 2019Bench: MR. JUSTICE AJAY TEWARI,MR. JUSTICE HARNARESH SINGH GILL1 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court of Punjab and Haryana at Chandigarh dismissed the appeal as withdrawn. The court granted the liberty to the appellant-revenue to file an application for revival of the appeal, as prayed for by their counsel. The decision was based on the revenue's submission that the tax effect was below the prescribed monetary limit for filing appeals, as per the relevant CBDT circulars. No decision on the merits of the case was made. The specific finding on any substantive issue related to income tax assessment is not recorded as the appeal was withdrawn before any such consideration.

What were the facts?

The appeal was filed by the Commissioner of Income Tax (Exemptions), Chandigarh (the revenue) against M/s Punjab Cooperative Bank Employees Pension Fund Trust (the assessee). The assessment year(s) are not specified. The appeal challenges an order passed by an authority below, the details of which are not provided. The procedural history is that the revenue sought to withdraw the appeal. The reason for withdrawal was that the tax effect involved was below the monetary limit prescribed by CBDT Circular No. 3 of 2018, as amended by Circular No. 17 of 2019 and a subsequent letter.

What were the issues?

1. Whether the appeal should be dismissed as withdrawn by the revenue. (Question of procedure) Assessee's arguments: Not recorded. Revenue's arguments: The revenue argued that the tax effect involved in the appeal was less than the monetary limit stipulated in CBDT Circular No. 3 of 2018, as amended by Circular No. 17 of 2019 and Letter No. F.No.279/Misc/M-93/2018-ITJ dated 20.08.2019. Based on these circulars, the revenue sought to withdraw the appeal. The revenue also prayed for liberty to file an application for revival of the appeal if circumstances warranted.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITA No. 225 of 2019 Date of Decision: 09.9.2019 The Commissioner of Income Tax .......Appellant (Exemptions), Chandigarh Vs. M/s Punjab Cooperative Bank .......Respondent Employees Pension Fund Trust CORAM: HON’BLE MR. JUSTICE AJAY TEWARI HON'BLE MR. JUSTICE HARNARESH SINGH GILL Present: Mr. Tajender Joshi, Advocate for Mr. Denesh Goyal, Senior Standing Counsel for the appellant. ***** AJAY TEWARI

, J. (ORAL)

Learned counsel for the appellant-revenue states that since the tax effect involved is less than the monetary limit as prescribed in Circular No.3 of 2018 dated 11.07.2018 issued by the Central Board of Direct Taxes, further amended vide Circular No.17 of 2019 dated 08.08.2019 read with Letter No. F.No.279/Misc/M-93/2018-ITJ dated 20.08.2019, he has instructions to withdraw the present appeal. However, he prayed that liberty be granted to the appellant-revenue to file an application for revival of the appeal, in case something survives therein. Dismissed as withdrawn with liberty as prayed for. (AJAY TEWARI) JUDGE (HARNARESH SINGH GILL) September 09, 2019

JUDGE Gurpreet Whether speaking /reasoned : Yes Whether Reportable : No GURPREET SINGH 2019.09.10 17:07 I attest to the accuracy and authenticity of this document chandigarh

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