COMMISSIONER OF INCOME TAX,LUD vs. MUNJAL STEELS

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ITR/371/1995HC Punjab & HaryanaPHHC01032449199504 July 20161 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court granted the appellant-Department leave to withdraw the reference. The Court noted that the withdrawal was based on the ground that the tax effect was less than Rs. 20 lacs, as per Circular No. 21/2015. Consequently, the reference was disposed of as withdrawn. The Court also clarified that this order would not prejudice the rights and contentions of the parties in any other appropriate proceedings. No specific questions of law or fact were decided on merits.

What were the facts?

The Commissioner of Income Tax (Central) Ludhiana, the appellant-Department, sought leave to withdraw the reference filed against M/s Munjal Steels, Ludhiana, the respondent. The reason for withdrawal was that the tax effect was less than Rs. 20 lacs, in accordance with Circular No. 21/2015 dated 10.12.2015. The High Court of Punjab and Haryana at Chandigarh was hearing this reference.

What were the issues?

1. Whether the appellant-Department should be granted leave to withdraw the reference on the grounds stated. (Question of procedure) Contentions: Assessee: No specific contentions recorded in the judgment. Revenue: The appellant-Department, through its learned counsel, sought leave to withdraw the reference on the ground that the tax effect was less than Rs. 20 lacs, citing Circular No. 21/2015 dated 10.12.2015.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH

Sr. No.302 (5) ITR-371-1995

Decided on : 04.07.2016 The Commissioner of Income Tax (Central) Ludhiana ..... Appellant

VERSUS M/s Munjal Steels, Ludhiana

..... Respondent CORAM: HON'BLE MR. JUSTICE S.J. VAZIFDAR, ACTING CHIEF JUSTICE HON'BLE MR. JUSTICE DEEPAK SIBAL Present: Mr.Zora Singh Klar, Senior Standing Counsel, for the appellant-Department. Mr.Alok Mittal, Advocate, for the respondent.

******* S.J. VAZIFDAR, A.C.J. (Oral) Learned counsel appearing on behalf of the appellant- Department seeks leave to withdraw the reference on the ground that the tax effect is less than the amount of Rs.20 lacs and in view of Circular No. 21/2015, dated 10.12.2015. The reference is accordingly disposed of. Needless to add that this order would not affect the rights and the contentions of the parties on the questions of law or of fact in other appropriate proceedings.

[ S.J. VAZIFDAR ] ACTING CHIEF JUSTICE 04.07.2016

[ DEEPAK SIBAL ] shamsher JUDGE SHAMSHER SINGH 2016.07.08 14:36 I attest to the accuracy and authenticity of this document Chandigarh

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