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

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ITA/301/2016HC Punjab & HaryanaPHHC01110504201628 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The High Court dismissed the appeal as withdrawn, granting the liberty sought by the revenue to file an application for revival of the appeal. The Court clarified that the withdrawal of the appeal by the revenue would not be considered an affirmation of the Tribunal's order on merits. Furthermore, the legal issue, as claimed by the revenue, was left open to be adjudicated in an appropriate case. No specific finding was given on the merits of the case as the appeal was withdrawn.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax-2, Ludhiana (the revenue) against an order of the Income Tax Appellate Tribunal (ITAT). The respondent is M/s Avery Cycle Industries Ltd. (the assessee). The appeal was filed before the High Court of Punjab and Haryana at Chandigarh. The assessment year(s) are not specified in the judgment. The procedural history is that the revenue sought to withdraw the appeal.

What were the issues?

1. Whether the appeal should be dismissed as withdrawn by the revenue in light of CBDT Circular No. 03/2018, dated 11.07.2018, due to the tax effect being less than Rs.50 lacs? Assessee's contentions: Not recorded in the judgment. Revenue's contentions: The learned counsel for the appellant-revenue stated that the tax effect involved is less than Rs.50 lacs and, therefore, 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. The revenue prayed for liberty to file an application for revival of the appeal in case something survives therein.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH

ITA-301-2016(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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