THE PR. COMMISSIONER OF INCOME TAX-II, AMRITSAR vs. M/S BHAGAT INDUSTRIAL CORPORATION LIMITED VPO KHASA, AMRITSAR (PAN AAACB7368P)

PDF · subscribers
ITA/311/2017HC Punjab & HaryanaPHHC01117516201720 July 2018Bench: MR. JUSTICE SURINDER GUPTA,LOK ADALAT BENCH - 31 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court dismissed the appeal as withdrawn. The court granted liberty to the revenue to file an application for revival of the appeal as prayed for. It was clarified that the withdrawal of the appeal by the revenue would not be construed as an affirmation of the order of the Income Tax Appellate Tribunal on merits. Furthermore, the court explicitly stated that the legal issue claimed by the revenue was being left open to be adjudicated in an appropriate case. No specific finding was given on the merits of the case.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax-II, Amritsar (the appellant-revenue) against M/s Bhagat Industrial Corporation Ltd., Khasa, Amritsar (the respondent-assessee). The appeal was filed before the High Court of Punjab & Haryana at Chandigarh. The tax effect involved in the appeal was ₹ 27,03,750/-. The revenue sought to withdraw the appeal in view of Circular No. 03/2018 dated 11th July, 2018, issued by the Central Board of Direct Taxes. The revenue also prayed for liberty to file an application for revival of the appeal if something survived therein.

What were the issues?

1. Whether the appeal should be dismissed as withdrawn by the revenue in view of CBDT Circular No. 03/2018, considering the tax effect involved. Assessee's Contention: No specific contention is recorded for the assessee as the appeal was withdrawn by the revenue. Revenue's Contention: The revenue, through its learned counsel, stated that due to the tax effect of ₹ 27,03,750/-, it had instructions to withdraw the appeal in accordance with CBDT Circular No. 03/2018. The revenue also requested liberty to revive the appeal if circumstances warranted.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH ITA-311-2017 Date of Decision: 20.7.2018 The Principal Commissioner of Income Tax-II, Amritsar ...Appellant. Versus M/s Bhagat Industrial Corporation Ltd., Khasa, Amritsar ...Respondent. CORAM:- HON'BLE MR. JUSTICE AJAY KUMAR MITTAL. HON'BLE MR. JUSTICE AVNEESH JHINGAN. PRESENT: Mr. Denesh Goyal, Sr. Standing Counsel for the appellant. AJAY KUMAR MITTAL, J. 1. Learned counsel for the appellant-revenue states that since the tax effect involved is ` 27,03,750/-, he has instructions to withdraw the present appeal in view of Circular No.03/2018, dated 11th July, 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. (AJAY KUMAR MITTAL) JUDGE July 20, 2018 (AVNEESH JHINGAN) gbs JUDGE Whether Speaking/Reasoned Yes/No Whether Reportable Yes/No Gurbachan Singh 2018.07.23 14:41 I attest to the accuracy and integrity of this document

Recent GST High Court judgments

Search GST case law →