PR. COMMISSIONER OF INCOME TAX-2, JALANDHAR vs. M/S PUNJAB GRAMIN BANK LTD.
What did the High Court hold?
The High Court dismissed the appeal as withdrawn, granting the revenue the liberty to file an application for revival of the appeal as prayed for.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 considered an affirmation of the ITAT's order on merits. Furthermore, the legal issue claimed by the revenue was left open to be adjudicated in an appropriate case. The operative direction was the dismissal of the appeal as withdrawn with liberty granted.
What were the facts?
The appeal was filed by the Principal Commissioner of Income Tax-2, Jalandhar (the revenue) against M/s Punjab Gramin Bank Ltd., Kapurthala (the assessee). The appeal challenged an order passed by the Income Tax Appellate Tribunal (ITAT). The tax effect involved in the appeal was ₹ 28,27,968/-. The revenue sought to withdraw the appeal based on Circular No. 03/2018 dated 11th July 2018, issued by the Central Board of Direct Taxes (CBDT). The revenue also requested liberty to file an application for revival of the appeal if any issue survived.
What were the issues?
1. Whether the appeal filed by the revenue should be dismissed as withdrawn in light of the tax effect and the CBDT Circular No. 03/2018. The revenue argued that due to the tax effect being below the monetary limit prescribed in Circular No. 03/2018, it had instructions to withdraw the present appeal. The revenue also prayed for liberty to file an application for revival of the appeal in case something survived therein. The judgment does not record any specific arguments from the assessee's side regarding the withdrawal of the appeal.
AI-generated summary — verify with the full judgment below
IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH ITA-414-2017 (O&M) Date of Decision: 28.8.2018 Principal Commissioner of Income Tax-2, Jalandhar ...Appellant. Versus M/s Punjab Gramin Bank Ltd., Kapurthala ...Respondent. CORAM:- HON'BLE MR. JUSTICE AJAY KUMAR MITTAL. HON'BLE MR. JUSTICE AVNEESH JHINGAN. PRESENT: Mr. Vivek Sethi, Sr. Standing Counsel for the appellant. Mr. H.S. Bhatia, Advocate for the respondent. AJAY KUMAR MITTAL, J. 1. Learned counsel for the appellant-revenue states that since the tax effect involved is ` 28,27,968/-, he has instructions to withdraw the present appeal in view of Circular No.03/2018, dated 11th July, 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. (AJAY KUMAR MITTAL) JUDGE August 28, 2018 (AVNEESH JHINGAN) gbs JUDGE Whether Speaking/Reasoned Yes/No Whether Reportable Yes/No GURBACHAN SINGH 2018.08.30 11:02 I attest to the accuracy and integrity of this document
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