Ita/178/2006 Of Commr. Of Income Tax, Ldh v. Tarlochan Singh Matharoo

ITA No. 178 of 2006 (O&M)-|- IN THE HIGH COURT QORKR PUNJAB AND HARYANA.AT CHANDIGARH ITA No. 178 of 2006 (O&M) Date of Decision: 11.04.2016 Commissioner of Income Tax, Ludhiana-I, Ludhiana ....... Appellant *#+&,& Sh. Tarlochan Singh Matharoo ...... Respondent CORAM: HON'BLE MR. JUSTICE RAJESH BINDALHON'BLE MR. JUSTICE HARINDER SINGH SIDHU Present:Mr. Rajesh Katoch, Advocatefor the appellant.for the appellant. Mr. Akshay Bhan, Sr. Advocate withMr. Alok Mittal, Advocate for the respondent. RAJESH BINDAL,J. This appeal has been filed under Section 260 A of theIncome Tax Act, 1961 (for short ‘the Act’), against the order dated9.9.2005 passed by the Income Tax Appellate Tribunal, ChandigarhBench (A), in IT(SS)A No. 27/CHANDI/2002, for the Block period1.4.1988 to 19.11.1998, raising the following substantial question oflaw: Whether on the facts and law, the Hon'ble IncomeTax Appellate Tribunal was legally justified inignoring the collected material evidence to supportthe agreement dated 14.8.1997 for payment of onmoney over and above the apparent consideration? ITA No. 178 of 2006 (O&M) Learned counsel for the appellant-revenue submitted thatin view of circular No.21/2015 dated 10.12.2015 read with circularNo.279/Misc/M-142/2007-ITJ (Part) dated 8.3.2016, issued by CentralBoard of Direct Taxes, he does not wish to press the present appeal, asthe tax effect involved is less thanLy20 lacs. However, he prays thatliberty be granted to the revenue to file an application for revival of theappeal in case something survives therein, Dismissed as not pressed with liberty as prayed for. It ishowever, Clarified that withdrawal of the appeal by the revenue shallnot be taken as affirmation of order of the Tribunal on merits. The legalissue aS Claimed by the revenue is left open to be adjudicated in anappropriate case. (RAJESH BINDAL)JUDGE 11.04.2016+##0! (HARINDER SINGH SIDHU)JUDGE