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

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ITA/68/2024HC Punjab & HaryanaPHHC01066699202423 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 application was supported by an affidavit and that the reasons provided therein were satisfactory. Consequently, the appeal, along with any pending applications, was dismissed as withdrawn. The judgment does not delve into the merits of the original appeal or any specific legal provisions, as the matter was disposed of on the procedural ground of withdrawal. No specific issue was decided on merits, and therefore, no ratio decidendi for future citation on substantive tax law is established.

What were the facts?

The appellant, Securities and Exchange Board of India (Stock Exchange Customer Protection Fund), filed an application for withdrawal of the main appeal, ITA-68-2024 (O&M). The appeal was against an order or action by the Income Tax Officer (Exemptions), Jalandhar. The hearing of the appeal was preponed to January 23, 2025, upon an oral request from the appellant's counsel. The application for withdrawal was supported by an affidavit and was allowed by the High Court.

What were the issues?

1. Whether the appeal filed by the Securities and Exchange Board of India (Stock Exchange Customer Protection Fund) against the Income Tax Officer (Exemptions), Jalandhar, should be permitted to be withdrawn. The assessee (appellant) argued for the withdrawal of the appeal, citing reasons provided in their application supported by an affidavit. The revenue (respondent) did not record any specific arguments against the withdrawal in the judgment. The court's decision was based on the application for withdrawal.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH

CM-977-CII-2025 in/and ITA-68-2024 (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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