PR COMMISSIONER OF INCOME TAX-I LUDHIANA vs. M/S VARDHMAN ACRYLICS LTD LUDHIANA

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ITA/34/2016HC Punjab & HaryanaPHHC01110546201603 February 2026Bench: MR. JUSTICE PARMOD GOYAL,MR. JUSTICE JAGMOHAN BANSAL2 pages
AI SummaryDismissed

What did the High Court hold?

The High Court dismissed the appeals based on the respondent's submission regarding the low tax effect, as per CBDT circulars. The appellant was granted liberty to move an application if contrary information was found later.

What were the facts?

The appeals involved common issues and were disposed of by a common order. The respondent-assessee stated that the tax effect in the appeals was below the monetary limit prescribed by CBDT circulars.

What were the issues?

The primary issue was whether the appeals should be dismissed due to the tax effect being below the prescribed monetary limit, as per CBDT circulars.

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH **** 202-1

ITA-34-2016 (O&M) Date of Decision: 03.02.2026

PR. COMMISSIONER OF INCOME TAX-I

...Appellant Vs. M/S VARDHMAN ACRYLICS LTD.

…Respondent And

Sr. No. Case No. Appellant(s) Respondent(s) 2. ITA-142-2016 (O&M) Pr. Commissioner of Income Tax-1 M/s Vardhaman Textiles Ltd. 3. ITA-171-2016 Pr. Commissioner of Income Tax M/S Steel Strips Wheels Ltd. 4. ITA-184-2017 (O&M) Pr. Commissioner of Income Tax-1 M/s Vardhaman Acrylics Ltd. 5. ITA-193-2016 Pr. Commissioner of Income Tax M/s Steel Strips Wheels Ltd. 6. ITA-204-2022 (O&M) Pr. Commissioner of Income Tax-1 M/s Vardhaman Textiles Ltd. 7. ITA-310-2019 (O&M) Pr. Commissioner of Income Tax-1 M/s Vardhaman Holdings Ltd. 8. ITA-44-2019 (O&M) Pr. Commissioner of Income Tax-1 M/s Vardhaman Textiles Ltd. 9. ITA-83-2021 (O&M) Chief Commissioner of Income Tax M/s Vardhaman Textiles Ltd. 10. ITA-101-2016 (O&M) Pr. Commissioner of Income Tax-1 M/s Vardhaman Acrylics Ltd.

CORAM:- HON'BLE MR. JUSTICE JAGMOHAN BANSAL HON'BLE MR. JUSTICE PARMOD GOYAL

Present:- Mr. Ranvijay Singh, Sr. Standing Counsel with Ms. Nikita Garg, Jr. Standing Counsel and Mr. Vidul Kapoor, Jr. Standing Counsel for the appellant-Income Tax

Ms. Radhika Suri, Sr. Advocate with

Ms. Parnika Singla, Advocate and

Mr. Abhinav Narang, Advocate for the respondent-assessee *** DEEPAK BISSYAN 2026.02.04 12:10 I attest to the accuracy and integrity of this document

ITA-34-2016 and connected cases

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JAGMOHAN BANSAL, J. (ORAL)

As common issues are involved in the captioned appeals, with the consent of both sides, the same are hereby disposed of by this common order. 2.

Learned counsel for the respondent-assessee submits that tax effect in the instant appeals is less than monetary limit prescribed by Central Board of Direct Taxes vide Circulars dated 15.03.2024 and 06.08.2024. 3.

Learned counsel for the appellant-Income Tax expressed his inability to controvert aforesaid statement, however, seeks permission to move an appropriate application, if anything contrary is found later on. 4.

Dismissed in terms of aforesaid circulars with aforesaid liberty. 5.

Pending application(s), if any, stands disposed of.

(JAGMOHAN BANSAL)

JUDGE

(PARMOD GOYAL)

JUDGE February 03, 2026 Deepak DPA

Whether Speaking/reasoned Yes/No

Whether Reportable

Yes/No DEEPAK BISSYAN 2026.02.04 12:10 I attest to the accuracy and integrity of this document

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