PR. COMMISSIONER OF INCOME TAX, JALANDHAR-2, JALANDHAR vs. M/S. CAPITAL LOCAL AREA BANK LTD.

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ITA/559/2017HC Punjab & HaryanaPHHC01117787201705 September 2019Bench: MR. JUSTICE AJAY TEWARI,MR. JUSTICE HARNARESH SINGH GILL2 pages
AI SummaryWithdrawn

What did the High Court hold?

The Tribunal decided to dismiss the appeal as withdrawn. The reasoning was based on the appellant-revenue's submission that the tax effect was below the prescribed monetary limits for filing appeals, as per CBDT Circular No. 3 of 2018 and Circular No. 17 of 2019. The Tribunal granted the revenue the liberty to file an application for revival of the appeal, should circumstances warrant it. No specific issue was decided on merits. The operative direction was to dismiss the appeal as withdrawn with liberty granted.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 Capital Local Area Bank Ltd. (the assessee). The assessment year(s) are not explicitly stated in this excerpt. The appeal challenges an order or action that is not detailed here. The procedural history involves the revenue's counsel stating that due to the tax effect being below the monetary limit prescribed by CBDT Circular No. 3 of 2018 and Circular No. 17 of 2019, they have instructions to withdraw the appeal. The revenue requested liberty to revive the appeal if circumstances changed.

What were the issues?

The Tribunal did not have to decide any substantive issues of law or fact. The sole matter before the Tribunal was the revenue's request to withdraw the appeal. The revenue argued that the tax effect involved was less than the monetary limit prescribed by CBDT Circular No. 3 of 2018, as amended by Circular No. 17 of 2019, and a subsequent letter dated 20.08.2019. Based on this, the revenue sought to withdraw the appeal, requesting liberty to revive it if necessary. No arguments were recorded for the respondent assessee.

AI-generated summary — verify with the full judgment below

ITA No.559 of 2017 (O&M) 1 352 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITA No.559 of 2017 (O&M) Date of decision : 05.09.2019 Pr. Commissioner of Income Tax-2, Jalandhar ...... Appellant versus M/s Capital Local Area Bank Ltd. (Now Capital Small Finance Bank Ltd.) G.T. Road, Jalandhar ...... Respondent CORAM : HON'BLE MR.JUSTICE AJAY TEWARI HON'BLE MR.JUSTICE HARNARESH SINGH GILL *** Present : Mr. Vivek Sethi, Senior Standing Counsel and Mr. Varun Issar, Junior Standing Counsel for the appellant. None for the respondent.

*** AJAY TEWARI, J. (Oral) 1. Learned counsel for the appellant-revenue states that since the tax effect involved is less than the monetary limit as prescribed in Circular No.3 of 2018 dated 11.07.2018 issued by the Central Board of Direct Taxes, further amended vide Circular No.17 of 2019 dated 08.08.2019 read with Letter No.F.No.279/Misc/M-93/2018-ITJ dated 20.08.2019, he has instructions to withdraw the present appeal. However, he prayed that liberty be granted to the appellant-revenue to file an application for revival of the appeal, in case something survives therein. 2. Dismissed as withdrawn with liberty as prayed for. POOJA SHARMA 2019.09.10 17:05 I am the author of this document

ITA No.559 of 2017 (O&M) 2 3. Since the main case has been dismissed, the pending C.M. Application, if any, also stands disposed of.

(AJAY TEWARI) JUDGE (HARNARESH SINGH GILL) JUDGE 05.09.2019 pooja sharma-I Whether speaking/reasoned Yes/No Whether Reportable : Yes/No POOJA SHARMA 2019.09.10 17:05 I am the author of this document

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