THE COMMISSIONER OF IT vs. M/S PB IRON & STEEL CO PVT LTD

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ITA/403/2005HC Punjab & HaryanaPHHC01068018200518 September 2019Bench: MR. JUSTICE AJAY TEWARI,MR. JUSTICE HARNARESH SINGH GILL2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court dismissed the appeal as withdrawn. The court granted the liberty as prayed for by the revenue, allowing them to file an application for revival of the appeal if something survives therein. The reasoning for dismissal was based on the revenue's submission that the tax effect was below the monetary limit for appeals, as per the CBDT circulars. The court also noted that since the main case was dismissed, any pending C.M. application also stood disposed of. The ratio decidendi is that appeals can be withdrawn based on updated monetary limits for appeals, with potential for revival under specific conditions.

What were the facts?

This case involves an appeal filed by the Commissioner of Income Tax, Jalandhar-II (the revenue) against M/s Punjab Iron and Steel Co. Pvt. Ltd. (the assessee). The appeal pertains to assessment year(s) not explicitly stated in the provided text. The order or action under challenge is the revenue's appeal itself, which was filed before the High Court of Punjab and Haryana at Chandigarh. The amount in dispute is not specified. The procedural history is that the revenue's counsel, citing the monetary limit prescribed in CBDT Circular No. 3 of 2018 and subsequent amendments, sought to withdraw the appeal.

What were the issues?

1. Whether the revenue should be permitted to withdraw the appeal, given the tax effect being below the prescribed monetary limit for appeals, and if so, whether liberty should be granted to revive the appeal. Assessee's contentions: Not recorded. Revenue's contentions: The revenue argued that the tax effect involved in the appeal is less than the monetary limit prescribed in CBDT Circular No. 3 of 2018, as amended by Circular No. 17 of 2019 and Letter No. F.No.279/Misc/M-93/2018-ITJ dated 20.08.2019. Based on this, the revenue sought to withdraw the appeal and prayed for liberty to revive it if circumstances warranted.

AI-generated summary — verify with the full judgment below

ITA No. 403 of 2005 (O&M) 1 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH 662 ITA No. 403 of 2005 (O&M) Date of Decision : 18.09.2019 The Commissioner of Income Tax, Jalandhar-II, Jalandhar ... Appellant Versus M/s Punjab Iron and Steel Co. Pvt. Ltd.

....Respondent CORAM:HON'BLE MR. JUSTICE AJAY TEWARI HON'BLE MR. JUSTICE HARNARESH SINGH GILL Present: Mr. Vivek Sethi, Senior Standing Counsel for the appellant. With Mr. Varun Issar, Advocate None 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. POOJA SAINI 2019.09.20 16:11 I attest to the accuracy and integrity of this document

ITA No. 403 of 2005 (O&M) 2 3. Since the main case has been dismissed, the pending C.M. application, if any, also stands disposed of. ( AJAY TEWARI ) JUDGE ( HARNARESH SINGH GILL ) 18.09.2019 JUDGE pooja saini Whether speaking/reasoned? Yes/No Whether reportable? Yes/No POOJA SAINI 2019.09.20 16:11 I attest to the accuracy and integrity of this document

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