COMMISSIONER OF INCOME TAX vs. M/S HERO CYCLES LTD.

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ITA/559/2006HC Punjab & HaryanaPHHC01075294200623 August 2016Bench: MR. JUSTICE M.M. AGGARWAL,MR. JUSTICE AVNEESH JHINGAN1 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court dismissed the appeal as withdrawn, granting the liberty as prayed for by the revenue to file an application for revival of the appeal. 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, as claimed by the revenue, was left open to be adjudicated in an appropriate future case. The Court did not decide the substantive merits of the appeal.

What were the facts?

The appeal was filed by the Commissioner of Income Tax, Ludhiana-II (appellant-revenue) against M/s Hero Cycles Ltd., Ludhiana (respondent-assessee). The appeal challenged an order passed by the Income Tax Appellate Tribunal (ITAT). The tax effect involved in the appeal was Rs. 13,34,900/-. The revenue sought to withdraw the appeal based on CBDT Circular No. 21/2015 dated 10.12.2015. The revenue also requested liberty to file an application for revival of the appeal if circumstances warranted.

What were the issues?

1. Whether the appeal filed by the revenue should be dismissed as withdrawn in view of CBDT Circular No. 21/2015, considering the tax effect involved. Assessee's Contention: The judgment does not record any specific contentions made by the assessee. The appeal was withdrawn by the revenue. Revenue's Contention: The revenue, through its learned counsel, stated that it had instructions to withdraw the present appeal due to the tax effect of Rs. 13,34,900/-, citing CBDT Circular No. 21/2015. The revenue prayed for liberty to file an application for revival of the appeal.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH

Sr. No. 552 ITA-559-2006

Decided on : 23.08.2016 Commissioner of Income Tax, Ludhiana-II ..... Appellant

VERSUS M/s Hero Cycles Ltd., Ludhiana

..... Respondent CORAM: HON'BLE MR. JUSTICE S.J. VAZIFDAR, CHIEF JUSTICE HON'BLE MR. JUSTICE DEEPAK SIBAL Present: Mr.Zora Singh Klar, Advocate, for the appellant. Mr.Akshay Bhan, Senior Advocate, with Mr.Alok Mittal, Advocate, for the respondent.

******* S.J. VAZIFDAR, C.J. (Oral) Learned counsel for the appellant-revenue states that since the tax effect involved is Rs.13,34,900/-, he has instructions to withdraw the present appeal in view of the circular No.21/2015, dated 10.12.2015, issued by the C.B.D.T., New Delhi. However, he 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.

[ S.J. VAZIFDAR ]

CHIEF JUSTICE 23.08.2016

[ DEEPAK SIBAL ] shamsher JUDGE Whether speaking/reasoned : Yes/No Whether reportable : Yes/No Shamsher Singh 2016.08.24 17:37 I attest to the accuracy and authenticity of this document Chandigarh

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