Commissioner Of Income Tax, Faridabad v. The Palwal Co-Op Sugar Mills Ltd. Palwal

IN THE HIGH COURT OF PUNJAB AND HARYANAAT CHANDIGARH ITA No. 59 of 2008 (O&M)Decided on: 19.01.2016 Commissioner of Income Tax, Faridabad Versus The Palwal Co-op Sugar Mills Ltd. Palwal ... Appellant ... Respondent CORAM:HON'BLE MR. JUSTICE AJAY KUMAR MITTALHON'BLE MRS. JUSTICE RAJ RAHUL GARG PRESENT:Mr. Rajesh Katoch, Advocate forMr. Tajinder K.Joshi, Advocate for the appellant, Mr.Jagmohan Bansal, Advocatefor the respondent. ++++ AJAY KUMAR MITTAL, J. (Oral) Learned counsel for the respondent-assessee submits that the appealrelates to assessment year 199'7-98 whereby addition ofL10,90,828/- on account ofannual contributions made to H.S.C.D.F. and disallowance of=5,02,037/- onaccount of interest on S.D.F. loan paid to Central Govt. under the head 'CaneDevelopment Expenses' have been disputed. It was urged that the total quantumaddition under challenge isL15,92,865/- and thus, the tax effect thereon would beless thanL20 lacs. 2 Learned counsel for the revenue unable to controvert the same. He,however, submitted that in view of the circular No. 21/2015, dated 10.12.2015issued by the C.B.D.T., New Delhi, he has instructions to withdraw the presentappeal. However, liberty may be granted to the revenue to file an application forrevival of the appeal in case something survives therein. 3Dismissed as withdrawn with liberty as prayed for. It is, however,clarified that withdrawal of the appeal by the revenue shall not be taken to beaffirmation of order of the Tribunal on merits. Further, the legal issue as claimedby the revenue is being left open to be adjudicated in an appropriate case. (AJAY KUMAR MITTAL)JUDGE January 19, 2016smrift (RAJ RAHUL GARG)JUDGE