PR. COMMISSIONER OF INCOME TAX-2, JALANDHAR vs. M/S CAPITAL LOCAL AREA BANK LTD.

PDF · subscribers
ITA/405/2017HC Punjab & HaryanaPHHC01117620201705 September 2019Bench: MR. JUSTICE AJAY TEWARI,MR. JUSTICE HARNARESH SINGH GILL2 pages
AI SummaryWithdrawn

What did the High Court hold?

The Tribunal decided to dismiss the appeal as withdrawn. The reasoning was based on the submission by the revenue's counsel that the tax effect was below the monetary limit stipulated in the relevant CBDT circulars. The circulars, which provide guidelines for the revenue to withdraw appeals where the tax effect is below a certain threshold, were the basis for this decision. The Tribunal granted liberty to the appellant-revenue to file an application for revival of the appeal if something survives therein. The pending C.M. Application, if any, was also disposed of as a consequence of the main appeal being dismissed.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax-2, Jalandhar (the revenue) against M/s Capital Local Area Bank Ltd. (the assessee). The assessment year(s) are not explicitly stated in the provided text. The appeal challenges an order or action by an authority, but the specific nature of that order is not detailed. The amount in dispute is also not specified. The procedural history is that the revenue's counsel, citing CBDT Circular No.3 of 2018 and subsequent amendments, stated that the tax effect was below the prescribed monetary limit. Consequently, the revenue sought to withdraw the appeal.

What were the issues?

1. Whether the appeal should be dismissed as withdrawn by the revenue due to the tax effect being below the prescribed monetary limit under CBDT Circulars. Contentions: Assessee: No arguments are recorded for the assessee as none appeared. Revenue: The revenue, through its counsel, argued that the tax effect involved in the appeal is less than the monetary limit prescribed in Circular No.3 of 2018 dated 11.07.2018, as amended by Circular No.17 of 2019 dated 08.08.2019 and Letter No.F.No.279/Misc/M-93/2018-ITJ dated 20.08.2019. Based on these circulars, the revenue sought to withdraw the present appeal.

AI-generated summary — verify with the full judgment below

ITA No.405 of 2017 (O&M) 1 352 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITA No.405 of 2017 (O&M) Date of decision : 05.09.2019 Pr. Commissioner of Income Tax-2, Jalandhar ...... Appellant versus M/s Capital Local Area Bank Ltd. (Now Capital Small Finance Bank Ltd.) G.T. Road, Jalandhar ...... Respondent CORAM : HON'BLE MR.JUSTICE AJAY TEWARI HON'BLE MR.JUSTICE HARNARESH SINGH GILL *** Present : Mr. Vivek Sethi, Senior Standing Counsel and Mr. Varun Issar, Junior Standing Counsel for the appellant. 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 SHARMA 2019.09.10 17:05 I am the author of this document

ITA No.405 of 2017 (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) JUDGE 05.09.2019 pooja sharma-I Whether speaking/reasoned Yes/No Whether Reportable : Yes/No POOJA SHARMA 2019.09.10 17:05 I am the author of this document

Recent GST High Court judgments

Search GST case law →