PR. COMMISSIONER OF INCOME TAX-2 LUDHIANA vs. M/S AVERY CYCLES INDUSTRIES LTD LUDHIANA

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ITA/272/2016HC Punjab & HaryanaPHHC01110471201628 March 2019Bench: MR. JUSTICE KRISHNA MURARI,MR. JUSTICE ARUN PALLI1 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court dismissed the appeal as withdrawn, granting the liberty to the revenue to file an application for revival of the appeal as prayed for. The Court clarified that the withdrawal of the appeal by the revenue would not be construed as an affirmation of the ITAT's order on merits. Furthermore, the legal issue, as claimed by the revenue, was left open to be adjudicated in an appropriate future case. No specific finding was made on the merits of the original dispute.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax-2, Ludhiana (the revenue) against M/s Avery Cycle Industries Ltd. (the assessee). The appeal challenges an order passed by the Income Tax Appellate Tribunal (ITAT). The specific assessment year(s) and the amount in dispute are not explicitly stated in the provided text. The procedural history is limited to the filing of the appeal by the revenue.

What were the issues?

The primary issue is whether the appeal filed by the revenue should be withdrawn. The revenue, represented by its counsel, stated that it has instructions to withdraw the present appeal. This instruction is based on Circular No. 03/2018, dated 11.07.2018, issued by the Central Board of Direct Taxes, due to the tax effect involved being less than Rs.50 lacs. The revenue requested liberty to file an application for revival of the appeal if something survives therein. The judgment does not record any arguments from the assessee's side.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH

ITA-272-2016(O&M)

Date of decision: 28.03.2019

Pr. Commissioner of Income Tax-2, Ludhiana … Appellant Versus M/s Avery Cycle Industries Ltd. … Respondent

CORAM: HON’BLE MR. JUSTICE KRISHNA MURARI,

CHIEF JUSTICE

HON’BLE MR. JUSTICE ARUN PALLI, JUDGE

Present: Mr. Rajesh Katoch, Advocate, for the appellant.

*** KRISHNA MURARI, C.J. (Oral)

Learned counsel for the appellant-revenue states that since the tax effect involved is less than Rs.50 lacs, he has instructions to withdraw the present appeal in view of Circular No. 03/2018, dated 11.07.2018 issued by the Central Board of Direct Taxes, New Delhi. However, he has prayed that liberty be granted to the revenue to file an application for revival of the appeal in case something survives therein. 2.

Dismissed as withdrawn with liberty as prayed for. It is, however, clarified that withdrawal of the appeal by the revenue shall not be taken to be affirmation of order of the Tribunal on merits. Further, the legal issue as claimed by the revenue is being left open to be adjudicated in an appropriate case.

( Krishna Murari )

Chief Justice

28.03.2019 Rajan

( Arun Palli ) Judge

Whether speaking / reasoned:

YES

Whether Reportable:

RAJAN KUMAR 2019.04.02 11:27 I attest to the accuracy and integrity of this document

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