PR. COMMISSIONER OF INCOME TAX-I LUDHIANA vs. M/S VARDHMAN HOLDINGS LTD CHD ROAD LUDHIANA

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ITA/373/2017HC Punjab & HaryanaPHHC01117584201728 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The High Court dismissed the appeal as withdrawn, granting the liberty to the revenue to file an application for revival of the appeal as prayed for. The court clarified that the withdrawal of the appeal by the revenue would not be construed as an affirmation of the ITAT's order on its merits. Furthermore, the court explicitly stated that the legal issue, as claimed by the revenue, was being left open to be adjudicated in an appropriate future case. No specific findings were made on the merits of the original dispute.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax-I, Ludhiana (the revenue) against an order of the Income Tax Appellate Tribunal (ITAT). The respondent is M/s Vardhman Holdings Limited (the assessee). The appeal was filed before the High Court of Punjab and Haryana at Chandigarh. The specific assessment year(s) and the amount in dispute are not explicitly stated in the provided text. The procedural history involves the revenue filing the present appeal before the High Court.

What were the issues?

The High Court was not required to decide any substantive issues on merits. The primary matter before the court was the revenue's request to withdraw the appeal. The revenue, through its counsel, stated that the tax effect involved was less than Rs. 50 lacs and sought to withdraw the appeal in accordance with CBDT Circular No. 03/2018 dated 11.07.2018. The revenue also prayed for liberty to revive the appeal if circumstances warranted. The assessee's contentions are not recorded in the judgment.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH

ITA-373-2017(O&M)

Date of decision: 28.03.2019

Pr. Commissioner of Income Tax-I, Ludhiana … Appellant Versus M/s Vardhman Holdings Limited … 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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