THE PR . COMMISSIONER OF INCOME-TAX, PATIALA. vs. M/S VISHAL COATER LIMITED, VILLAGE KHUSROPUR, MAEN ROAD PATIALA.

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ITA/477/2017HC Punjab & HaryanaPHHC01117696201723 August 2018Bench: MR. JUSTICE SURINDER GUPTA,LOK ADALAT BENCH - 31 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court dismissed the appeal as withdrawn with liberty to the revenue to file an application for revival of the appeal as prayed for.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 shall not be taken as an affirmation of the ITAT's order on merits. Furthermore, the legal issue, as claimed by the revenue, was left open to be adjudicated in an appropriate case. The miscellaneous applications (CMs) were also dismissed as withdrawn.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax, Patiala (the revenue) against M/s Vishal Coater Limited (the assessee). The assessment year(s) are not specified. The order under challenge is an order passed by the Income Tax Appellate Tribunal (ITAT). The tax effect involved in the appeal is ₹38,08,648/-. The revenue sought to withdraw the appeal in view of Circular No. 03/2018 dated 11th July, 2018, issued by the Central Board of Direct Taxes (CBDT). The revenue prayed for liberty to file an application for revival of the appeal if something survived therein.

What were the issues?

1. Whether the appeal should be dismissed as withdrawn in view of the tax effect and the CBDT Circular No. 03/2018. Assessee's Contentions: Not recorded in the judgment. Revenue's Contentions: The revenue, through its learned counsel, stated that the tax effect involved is ₹38,08,648/- and it has instructions to withdraw the present appeal in view of Circular No. 03/2018, dated 11th July, 2018, issued by the CBDT. The revenue prayed for liberty to file an application for revival of the appeal in case something survives therein.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB & HARYANA AT CHANDIGARH ITA-477-2017 (O&M) Date of Decision: 23.8.2018 The Principal Commissioner of Income Tax, Patiala ...Appellant. Versus M/s Vishal Coater Limited ...Respondent. CORAM:- HON'BLE MR. JUSTICE AJAY KUMAR MITTAL. HON'BLE MR. JUSTICE AVNEESH JHINGAN. PRESENT: Mr. Z.S. Klar, Sr. Standing Counsel for the appellant. AJAY KUMAR MITTAL, J. 1. Learned counsel for the appellant-revenue states that since the tax effect involved is ` 38,08,648/-, 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. 3. CMs are also dismissed as withdrawn. (AJAY KUMAR MITTAL) JUDGE August 23, 2018 (AVNEESH JHINGAN) gbs JUDGE Whether Speaking/Reasoned Yes/No Whether Reportable Yes/No GURBACHAN SINGH 2018.08.28 14:55 I attest to the accuracy and integrity of this document

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