COMMISSIONER OF IT vs. M/S HIGHWAY CYCLE INDS LTD

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ITA/310/2005HC Punjab & HaryanaPHHC01072119200529 October 2019Bench: MR. JUSTICE AJAY TEWARI,MRS. JUSTICE ALKA SARIN1 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The High Court of Punjab and Haryana at Chandigarh dismissed the appeal as withdrawn.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 liberty to the appellant-revenue to file an application for revival of the appeal if something survives therein. The reasoning for the dismissal was based on the appellant-revenue's submission that the tax effect was below the monetary limit specified in the relevant CBDT circulars, which consequently led to the withdrawal of the appeal. The court also noted that since the main case was dismissed, any pending C.M. Application also stood disposed of. No specific issue was decided on merits.

What were the facts?

The appeal was filed by the Commissioner of Income Tax-II, Ludhiana (appellant-revenue) against M/s. Highway Cycle Industries Limited, Ludhiana (respondent-assessee). The assessment year(s) are not explicitly stated. The appeal challenges an order or action from a lower authority, the details of which are not provided. The amount in dispute is not specified. The procedural history is that the revenue has filed this appeal before the High Court.

What were the issues?

1. Whether the appeal should be dismissed as withdrawn due to the tax effect being below the prescribed monetary limit for appeals by the revenue? The appellant-revenue argued that the tax effect involved is less than the monetary limit prescribed in CBDT Circular No.3 of 2018 and Circular No.17 of 2019, read with a subsequent letter. Based on these circulars, the revenue sought to withdraw the present appeal. The respondent-assessee's arguments are not recorded in the judgment.

AI-generated summary — verify with the full judgment below

653 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITA No.310 of 2005 (O&M) Date of decision : 29.10.2019 The Commissioner of Income Tax-II, Ludhiana ...... Appellant versus M/s. Highway Cycle Industries Limited, Ludhiana. ...... Respondent CORAM : HON'BLE MR.JUSTICE AJAY TEWARI HON'BLE MRS.JUSTICE ALKA SARIN *** Present : Mr.Chetan Sood, Advocate and Mr.Sandeep Goyal, Advocate for the appellant. Mr.Akshay Bhan, Sr. Advocate with Mr.Alok Mittal, Advocate and Mr.Shantanu, Bansal, Advocate for the respondent. *** AJAY TEWARI, J. (Oral) 1. 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. 2. Dismissed as withdrawn with liberty as prayed for. 3. Since the main case has been dismissed, the pending C.M. Application, if any, also stands disposed of. (AJAY TEWARI) JUDGE (ALKA SARIN) JUDGE 29.10.2019 raman Whether speaking/reasoned Yes/No Whether Reportable : Yes/No RAMAN KUMAR 2019.10.31 09:41 I attest to the accuracy and integrity of this document

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