C.I.T. PAT. vs. M/S BHANDARI HOSIERY MILLS P. LTD.

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ITR/65/1997HC Punjab & HaryanaPHHC01035440199718 July 2019Bench: MR. JUSTICE AJAY TEWARI,MR. JUSTICE HARNARESH SINGH GILL1 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court allowed the appellant's request to withdraw the reference. The reasoning was based on the appellant's submission that the tax effect in the present case was below the monetary limit specified in Circular No. 3/2018. The Court ordered accordingly, leading to the dismissal of the reference as withdrawn. No decision on the merits of the original dispute was made. The operative direction was to dismiss the reference as withdrawn.

What were the facts?

This is a High Court Income Tax Reference (ITR) filed by the Commissioner of Income Tax, Patiala, against M/s Bhandari Hosiery Mills (P) Ltd. The reference pertains to a decision made by the Income Tax Appellate Tribunal (ITAT). The appellant's counsel stated that the tax effect in this reference is significantly lower than the monetary limit prescribed by Circular No. 3/2018. Consequently, the appellant sought permission to withdraw the reference. The High Court granted this permission.

What were the issues?

1. Whether the High Court should permit the withdrawal of the Income Tax Reference due to a low tax effect, as per Circular No. 3/2018? The appellant (Revenue) argued that the tax effect is below the threshold stipulated in Circular No. 3/2018 and therefore, sought permission to withdraw the reference. The respondent (Assessee) did not appear, and therefore, no arguments were recorded on their behalf.

AI-generated summary — verify with the full judgment below

ITR No. 65 of 1997 -1- IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITR No. 65 of 1997 Date of Decision: 18.7.2019 The Commissioner of Income Tax, Patiala .......Appellant Vs. M/s Bhandari Hosiery Mills (P) Ltd. .......Respondent CORAM: HON’BLE MR. JUSTICE AJAY TEWARI HON'BLE MR. JUSTICE HARNARESH SINGH GILL Present: - Mr. Rajesh Katoch, Sr. Standing Counsel and Ms. Pridhi Jaswinder Sandhu, Jr. Sanding Counsel for the appellant. None for the respondent. ***** AJAY TEWARI

, J. (ORAL)

Learned counsel for the appellant states that in this reference, tax effect is much lower than the limit of Rs. 50.00 lacs in view of Circular No. 3/2018 and consequently, he may be permitted to withdraw the reference. Ordered accordingly. Dismissed as withdrawn. (AJAY TEWARI) JUDGE (HARNARESH SINGH GILL) July 18, 2019

JUDGE Gurpreet Whether speaking /reasoned : Yes Whether Reportable : No GURPREET SINGH 2019.07.22 16:32 I attest to the accuracy and authenticity of this document chandigarh

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