COMMISSIONER OF INCOME TAX, KOLKATA-II vs. M/S MADHU JAYANTI INTERNATIONAL LTD.

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ITA/31/2014HC CalcuttaWBCHCO000032201408 January 2021Bench: HON'BLE JUSTICE RAJESH BINDAL, CHIEF JUSTICE (ACTING),HON'BLE JUSTICE ANIRUDDHA ROY2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court allowed the prayer made by the learned counsel for the appellant (Revenue). The appeal was dismissed as withdrawn. The Court explicitly stated that the legal issue raised in the appeal was kept open. The reasoning for allowing the withdrawal was based on the Circular No.17/2019, which revised the monetary threshold for filing appeals before the High Court. The Revenue's submission that the tax effect was below this revised limit formed the basis for the Court's decision to permit withdrawal.

What were the facts?

The Revenue, Commissioner of Income Tax, Kolkata-II, filed an appeal before the High Court at Calcutta against an order dated July 20, 2012, passed by the Income Tax Appellate Tribunal (ITAT), Special Bench, Kolkata. The appeal pertained to the assessment year 2004-05 and was filed by the Revenue against M/s. Madhu Jayanti International Limited. The ITAT's order was the subject of challenge. The appeal was heard on January 8, 2021.

What were the issues?

1. Whether the present appeal, filed by the Revenue, should be permitted to be withdrawn in view of Circular No.17/2019 issued by the CBDT, which increased the monetary limit for filing appeals before the High Court to ₹ one crore, and the tax effect in the present appeal being less than this limit. Contentions: Assessee: Not recorded. Revenue: Submitted that in view of Circular No.17/2019, the monetary limit for filing appeals before the High Court has been increased to ₹ one crore. Since the tax effect in the present appeal is less than this limit, the Revenue sought permission to withdraw the appeal.

AI-generated summary — verify with the full judgment below

Serial No. OD/6 HIGH COURT AT CALCUTTA ORIGINAL SIDE ITA No.31 of 2014 (Through Video Conferencing) Commissioner of Income Tax, Kolkata-II ….Appellant(s) Through : Mr. P. K. Bhowmik, Advocate v/s M/s. Madhu Jayanti International Limited ….Respondent(s) Through : Mr. J.P. Khaitan, Senior Advocate (VC)

Ms. Swapna Das, Mr. Sanjay Bhaumik, Mr. Siddhartha Das, Advocates (VC) Coram : HON’BLE MR. JUSTICE RAJESH BINDAL, JUDGE HON’BLE MR. JUSTICE ANIRUDDHA ROY, JUDGE O R D E R 1. The present appeal has been filed by the Revenue raising substantial questions of law arising out of order dated July 20, 2012 passed by the Income Tax Appellate Tribunal, Special Bench, Kolkata in ITA No.1463/Kol/2007, for the assessment year 2004-05. 2. Learned counsel for the appellant submitted that in view of Circular No.17/2019 F.No.279/Misc.142/2007-ITJ(Pt.) issued by Government of India, Ministry of Finance, Department of Revenue, Central Board Direct Taxes, Judicial Section dated August 8, 2019, monetary limit for filing appeals before the High Court has been increased to ₹ one crore and the tax effect in the present appeal being less than that, he may be permitted to withdraw the present appeal.

2 3. We allow the prayer made by the learned Counsel for the appellant. Appeal is dismissed as withdrawn, while keeping open the legal issue raised therein. (ANIRUDDHA ROY) (RAJESH BINDAL) JUDGE JUDGE Kolkata 08.01.2021 akg/S. Kumar

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