Ita/226/2003 Of Commissioner Of Income Tax Ldh v. M/S Mahavir Spinning Mills

ITA No. 226 of 2003 (O&M)-|- IN THE HIGH COURT OR PUNJAB AND HARYANA|AT CHANDIGARH ITA No. 226 of 2003 (O&M) Date of Decision: 29.03.2016 Commissioner of Income Tax-I, Ludhiana ....... Appellant )"*%+% M/s Mahavir Spinning Mills Ltd. ...... Respondent CORAM: HON'BLE MR. JUSTICK RAJESH BINDAL,HON'BLE MR. JUSTICE HARINDER SINGH SIDHU Present:Mr. Rajesh Katoch, Advocatefor the appellant. RAJESH BINDAL,J. This appeal has been filed under Section 260 A of theIncome Tax Act, 1961 (for short 'the Act’), against the order dated25.9.2002 passed by the Income Tax Appellate Tribunal, ChandigarhBench (B), in ITA No.610/Chandi/1996, tor the assessment year1989-90, raising the following substantial question of law; (i) Whether interest u/s 244A is to be allowed inrespect of payments made u/s 140-A of the IncomeTax Act, 1961? Learned counsel for the appellant-revenue submitted that in 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 Central Board of Direct Taxes, he does not wish to press the present appeal, asthe tax effect involved is less thanTL20 lacs. However, he prays that ITA No. 226 of 2003 (O&M) liberty 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. Thelegal issue as claimed by the revenue is left open to be adjudicated inan appropriate case, 29.03.2016T@eIN (RAJESH BINDAL)JUDGE(HARINDER SINGH SIDHU)JUDGE