COMM. OF INCOME TAX, LDH vs. M/S HERO CYCLES LTD., LDH
What did the High Court hold?
The High Court held that the appeal filed by the Revenue was not pressed. The reasoning was based on the statement made by the learned Senior Standing Counsel for the Revenue, citing Circular No.17/2019 and the tax effect being below Rs.1.00 crore. The Tribunal's decision was to dispose of the appeal as not pressed. The ratio decidendi is that appeals with a tax effect below the prescribed threshold, as per departmental circulars, may not be pursued. The operative direction was to dispose of the appeal as not pressed, with a clarification that this order would not affect the rights and contentions of the parties in other appropriate proceedings. No issue was expressly left undecided.
What were the facts?
The appeal was filed by the Commissioner of Income Tax (Central), Ludhiana (the Revenue) against M/s Hero Cycles Ltd., Ludhiana (the assessee). The assessment year(s) are not specified in the provided text. The appeal challenges an order passed by the Income Tax Appellate Tribunal (ITAT). The amount in dispute is not explicitly stated, but the appeal is being withdrawn due to the tax effect being below a certain threshold. The procedural history is that the Revenue has filed the present appeal before the High Court.
What were the issues?
The primary issue before the High Court was whether the appeal filed by the Revenue should be pressed. The Revenue, through its learned Senior Standing Counsel, made a statement at the bar. The Revenue argued that due to Circular No.17/2019 - F.No.279/Misc. 142/2007-ITJ(Pt) dated 8th of August, 2019, and the tax effect being less than the threshold amount of Rs.1.00 crore, it was not pressing the present appeal. The assessee's contentions are not recorded as the appeal was disposed of on the Revenue's submission.
AI-generated summary — verify with the full judgment below
223 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITA No.349 of 2004 Date of Decision : 10.08.2022 Commissioner of Income Tax (Central), Ludhiana ….Appellant Versus M/s Hero Cycles Ltd. Ludhiana …..Respondent CORAM : HON’BLE MR. JUSTICE TEJINDER SINGH DHINDSA HON’BLE MR. JUSTICE PANKAJ JAIN Present : Mr. Sandeep Goyal, Senior Standing Counsel for the appellant. Mr. Sidhant Suri, Advocate and Mr. Alok Mittal, Advocate for the respondent. TEJINDER SINGH DHINDSA, J. (ORAL) Learned Senior Standing Counsel for the Revenue makes a statement at the bar that since the tax effect is less than the threshold amount of Rs.1.00 crore and in view of Circular No.17/2019 - F.No.279/ Misc. 142/2007-ITJ(Pt) dated 8th of August, 2019, he is not pressing the present appeal. Appeal is disposed of as not pressed. Needless to add that this order would not effect the rights and contentions of the parties on the questions of law or of fact in other appropriate proceedings. (TEJINDER SINGH DHINDSA) JUDGE August 10, 2022 (PANKAJ JAIN) Dpr
JUDGE Whether speaking/reasoned : Yes/No Whether reportable : Yes/No DEEPAK KUMAR 2022.08.17 17:00 I attest to the accuracy and integrity of this document
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