PR. COMMISSIONER OF INCOME TAX, FARIDABAD vs. THE NEW VIKAS CO-OPERATIVE HOUSE BUILDING SOCIETY LTD.
What did the High Court hold?
The High Court dismissed the appeal as withdrawn with liberty granted to the revenue to file an application for revival of the appeal as prayed for.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 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 judgment does not provide the reasoning for the ITAT's original order or the specific legal issue that was left open.
What were the facts?
The appeal was filed by the Principal Commissioner of Income Tax, Faridabad (the revenue) against an order of the Income Tax Appellate Tribunal (ITAT). The respondent was The New Vikas Cooperative House Building Society Ltd., Faridabad (the assessee). The assessment year(s) are not specified. The appeal was filed against the order of the ITAT. The tax effect involved in the appeal was ₹ 22,15,401/-. The appeal was filed in the High Court of Punjab & Haryana at Chandigarh.
What were the issues?
1. Whether the appeal should be dismissed as withdrawn in view of CBDT Circular No. 03/2018 dated 11th July, 2018, given the tax effect involved? Assessee's Contentions: Not recorded in the judgment. Revenue's Contentions: The learned counsel for the appellant-revenue stated that due to the tax effect of ₹ 22,15,401/-, they had instructions to withdraw the present appeal and related applications in accordance with CBDT Circular No. 03/2018. The revenue prayed for liberty to file an application for revival of the appeal if circumstances warranted.
AI-generated summary — verify with the full judgment below
IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH ITA-460-2017 (O&M) Date of Decision: 1.8.2018 Principal Commissioner of Income Tax, Faridabad ...Appellant. Versus The New Vikas Cooperative House Building Society Ltd., Faridabad ...Respondent. CORAM:- HON'BLE MR. JUSTICE AJAY KUMAR MITTAL. HON'BLE MR. JUSTICE AVNEESH JHINGAN. PRESENT: Mr. Tajender K. Joshi, Sr. Standing Counsel for the appellant. None for the respondent. AJAY KUMAR MITTAL, J. 1. Learned counsel for the appellant-revenue states that since the tax effect involved is ` 22,15,401/-, he has instructions to withdraw the present appeal as well as the applications 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 1, 2018 (AVNEESH JHINGAN) gbs JUDGE Whether Speaking/Reasoned Yes/No Whether Reportable Yes/No Gurbachan Singh 2018.08.03 14:17 I attest to the accuracy and integrity of this document
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