Pr. Commissioner Of Income Tax-1, Chandigarh v. Punjab State Cooperative Bank Limited
High Court
12 Mar 2019 In favour of: Assessee
Forum / Bench
High Court · phhc
Parties
Pr. Commissioner Of Income Tax-1, Chandigarh v. Punjab State Cooperative Bank Limited
Date of order
12 Mar 2019
Assessment year(s)
—
Outcome
Dismissed
Case summary
In Pr. Commissioner Of Income Tax-1, Chandigarh v. Punjab State Cooperative Bank Limited, the High Court (2019) dismissed the appeal. The decision went in favour of the assessee.
Decision: Dhanalekshmi Bank Ltd.,[2015] 373 ITR 526 (SC)", where the Supreme Court had dismissed theappeal without going into the merits of the appeal due to low tax effectleaving the question of law open, the present appeal is dismissed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
The order — as passed by the High Court
IN THE HIGH COURT OF PUNJAB AND HARYANAAT CHANDIGARH
ITA-376-2018 (O&M)Decided on: 12.03.2019
Pr. Commissioner of Income Tax-1, Chandigarh
.... Appellant
Vs
Punjab State Cooperative Bank Limited
woeee RESPONCEnt
CORAM: HON'BLE MR. JUSTICE AJAY KUMAR MITTALHON'BLE MRS. JUSTICE MANJARI NEHRU KAUL,
Present:Ms. Urvashi Dhugga, Sr. Standing Counselfor the appellant,>K K
AJAY KUMAR MITTAL_J (ORAL)
A perusal of the record shows that the tax effect involved inthe present case is"42,/7,400/-. In view of the order of the Apex CourtIn‘Commissioner of Income Tax Vs. Dhanalekshmi Bank Ltd.,[2015] 373 ITR 526 (SC)", where the Supreme Court had dismissed theappeal without going into the merits of the appeal due to low tax effectleaving the question of law open, the present appeal is dismissed. It is,however, clarified that dismissal of the appeal shall not be taken to beaffirmation of order of the Tribunal on merits. Further, the legal issue asclaimed by the revenue is being left open to be adjudicated in anappropriate case.
(AJAY KUMAR MITTAL)JUDGE
(MANJARI NEHRU KAUL)JUDGE)
12.03.2019DineshWhether speaking/reasonedYes/NoWhether ReportableYes/No
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