THE PR. COMMISSIONER OF INCOME TAX-3 LUDHIANA vs. M/S TRIDENT ALCO-CHEM LTD LUDHIANA

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ITA/411/2016HC Punjab & HaryanaPHHC01110624201626 September 2018Bench: MR. JUSTICE SURYA KANT,MR. JUSTICE SUDIP AHLUWALIA1 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court decided to dismiss the appeal as not pressed. The reasoning was based on the submission by the Revenue's counsel that the tax effect of ₹39,61,468/- was below the monetary limit prescribed by CBDT Circular No. 3/2018. Consequently, the Revenue did not want to pursue the appeal on its merits. The Court granted liberty to the Revenue to seek revival of the appeal if circumstances changed. The question of law was also expressly kept open. The operative direction was the dismissal of the appeal.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax-3, Ludhiana (Revenue) against M/s Trident Alco-Chem Ltd., Ludhiana (Assessee). The assessment year(s) are not explicitly stated. The appeal challenges an order or action that is not detailed in the provided text. The tax effect involved in the case is stated to be ₹39,61,468/-. The procedural history is limited to the filing of the appeal before the High Court.

What were the issues?

1. Whether the appeal should be dismissed as not pressed due to the tax effect being below the threshold stipulated in CBDT Circular No. 3/2018. (Question of law) Contentions: Assessee: No specific contentions are recorded in the judgment. Revenue: The Revenue, through its learned counsel, stated that the tax effect is ₹39,61,468/- and, in view of CBDT Circular No. 3/2018 (dated 11.07.2018), which sets a threshold of ₹50 lacs, it does not wish to press the appeal on merits.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH **** ITA No.411 of 2016 Date of Decision: 26.09.2018 **** The Pre. Commissioner of Income Tax-3, Ludhiana ..... Appellant Versus M/s Trident Alco-Chem Ltd., Ludhiana

..... Respondent CORAM: HONBLE MR. JUSTICE SURYA KANT HONBLE MR. JUSTICE SUDIP AHLUWALIA Present: Mr. Rajesh Sethi, Senior Standing Counsel with Mr. Arun Biriwal, Advocate and Ms. Pridhi Jaswinder Sandhu, Advocate, for the appellant. Mr. Manpreet Singh Kanda, Advocate, for the respondent. SURYA KANT J. (ORAL) (1) Learned counsel for Revenue states that the tax effect involved in this case is `39,61,468/- and in view of the recent Circular No.3/2018 dated 11.07.2018 issued by the Ministry of Finance, Department of Revenue, Central Board Direct Taxes, the tax effect being less than `50 lacs, he does not want to press this appeal on merits. (2) In view of the CBDT Circular, the instant appeal is dismissed as not pressed. As prayed for by learned counsel for the appellant, liberty is granted to the Revenue to seek revival of the appeal, if need be, in the changed circumstances. The question of law is also kept open.

(SURYA KANT)

JUDGE 26.09.2018

(SUDIP AHLUWALIA) Bhumika JUDGE 1. Whether speaking/reasoned: Yes 2. Whether reportable: No Bhumika Bhati 2018.09.28 13:57 I attest to the accuracy and integrity of this document

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