PR. COMMISSIONER OF INCOME TAX-2, CHANDIGARH vs. M/S FRIENDS ALLOYS

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ITA/336/2018HC Punjab & HaryanaPHHC01119195201807 December 2018Bench: MR. JUSTICE R.C. KATHURIA (RETD.),MR. JUSTICE HARINDER SINGH SIDHU1 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The High Court dismissed the appeal as withdrawn.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 considered 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 case. The court did not decide the merits of the case.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax-2, Chandigarh (the revenue) against M/s Friends Alloys, Chandigarh (the assessee). The appeal was filed against an order of the Income Tax Appellate Tribunal (ITAT). The tax effect involved in the appeal was ₹34,08,635. 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 (CBDT). 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 revenue should be permitted to withdraw the appeal. Assessee's contentions: Not recorded. Revenue's contentions: The revenue, through its learned counsel, stated that due to the tax effect involved (₹34,08,635) and in view of CBDT Circular No. 03/2018 dated 11th July, 2018, it had instructions to withdraw the present appeal. The revenue further prayed for liberty to file an application for revival of the appeal in case something survived therein.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH ITA-336-2018 (O&M) Date of Decision: 7.12.2018 Principal Commissioner of Income Tax-2, Chandigarh ...Appellant. Versus M/s Friends Alloys, Chandigarh ...Respondent. CORAM:- HON'BLE MR. JUSTICE AJAY KUMAR MITTAL. HON'BLE MRS. JUSTICE MANJARI NEHRU KAUL. PRESENT: Ms. Urvashi Dhugga, 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 ` 34,08,635/-, she 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, she 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 December 7, 2018 (MANJARI NEHRU KAUL) gbs JUDGE Whether Speaking/Reasoned Yes/No Whether Reportable Yes/No GURBACHAN SINGH 2018.12.10 14:27 I attest to the accuracy and integrity of this document

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