SECURITIES AND EXCHANGES BOARD OF INDIA vs. INCOME TAX OFFICER (EXEMPTIONS), JALANDHAR

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ITA/67/2024HC Punjab & HaryanaPHHC01066671202423 January 2025Bench: MR. JUSTICE ARUN PALLI,MRS. JUSTICE SUDEEPTI SHARMA1 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court allowed the application for withdrawal of the appeal. The court noted that the appellant, through their learned counsel, made an oral request for withdrawal. The reasons provided in the application, supported by an affidavit, were found to be acceptable by the court. Consequently, the appeal, along with any associated applications, was dismissed as withdrawn. No decision on the merits of the original appeal was made. The operative direction was to dismiss the appeal as withdrawn.

What were the facts?

The Securities and Exchange Board of India (Stock Exchange Customer Protection Fund) filed an appeal (ITA-67-2024) against an order passed by the Income Tax Officer (Exemptions), Jalandhar. The appeal was accompanied by an application (CM-1075-CII-2025) for withdrawal. The hearing for the appeal was preponed to January 23, 2025. The appellant sought to withdraw the main appeal. The High Court considered the application for withdrawal.

What were the issues?

1. Whether the appeal filed by the Securities and Exchange Board of India (Stock Exchange Customer Protection Fund) against the order of the Income Tax Officer (Exemptions), Jalandhar, can be permitted to be withdrawn. The assessee, Securities and Exchange Board of India (Stock Exchange Customer Protection Fund), argued for the withdrawal of the appeal. The revenue, represented by the Income Tax Officer (Exemptions), Jalandhar, did not present any arguments against the withdrawal, as the judgment records no contention from their side regarding this specific request.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH

CM-1075-CII-2025 in/and ITA-67-2024 (O&M)

Date of decision: 23.01.2025

Securities and Exchange Board of India (Stock Exchange Customer Protection Fund)

….Appellant

Versus

Income Tax Officer (Exemptions), Jalandhar

….Respondent

CORAM: HON'BLE MR. JUSTICE ARUN PALLI

HON'BLE MRS. JUSTICE SUDEEPTI SHARMA

Present: Mr. Manish Jain, Advocate, and

Mr. Siddhant Jain, Advocate, for the applicant-appellant.

Mr. Varun Issar, Senior Standing Counsel for the respondent.

****

ARUN PALLI, J. (Oral)

This is an application for withdrawal of the main appeal.

On the oral request made by learned counsel for the applicant-appellant, hearing in the appeal is preponed to today, i.e. 23.01.2025.

For the reasons set out in the application, which are duly supported by an affidavit, the same is allowed. Accordingly, as prayed for, the appeal, along with applications, is dismissed as withdrawn.

(ARUN PALLI)

JUDGE

(SUDEEPTI SHARMA)

JUDGE 23.01.2025 Ak Sharma Whether speaking/reasoned Yes Whether reportable Yes/No

AMIT KUMAR 2025.01.24 13:23 I attest to the accuracy and authenticity of this document

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