Marwah Finance Private Limited V. Union of India

CWP/22543/2022

AI Insights

The case involves M/S Marwah Finance Private Limited as the petitioner against the Union of India and others as respondents. The core issue revolved around an assessment order under section 263 of the Income Tax Act, 1961, which was initially contested. The ITAT's decision to set aside the Pr.CIT's order and remand the case for a fresh assessment rendered the High Court's intervention unnecessary, leading to the disposal of the writ petition. The legal representation included Mr. Yogesh Putney and Mr. Vaibhav Gupta for the respondents, with Mr. Dharan Goel advocating for the petitioner.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 697207 (HC-MISC)
• Appeal Type: Others
• Pronouncement Date: 04-11-2024
• Assessment Year: misc
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: YOGESH PUTNEY; VAIBHAV GUPTA
• Assessee Lawyers: SANJAY VASHISTH
• Keywords: Assessment Order; Income Tax; Infructuous; ITAT; Pr. CIT
• Section: 263

Judgement Text

"227 IN THE HIGH COURT OF PUNJAB AND HARYANA AT M/S MARWAH FINANCE PRIVATE LIMITED UNION OF INDIA AND OTHERS CORAM: HON’BLE MR. JUSTICE SANJEEV PRAKASH SHARMA HON’BLE MR. JUSTICE Present: Mr. Mr. Yogesh Putney, Sr. Standing Counsel with Mr. Vaibhav Gupta, Standing Counsel for the respondents/Revenue. SANJEEV PRAKASH SHARMA, J.(Oral) 1. It is stated that the order passed by the Pr.CIT under section 263 of Income Tax Act, 1961, vide its order dated 24.05.2024. The said order record. 2. In view of the said order, the to be set aside and the matter has become infructuous. The ITAT has already remanded the matter back to the Pr.CIT for passing of fresh order. thereof, the proceedings before the Pr.CIT shall continue. 3. Present writ petition stands disposed of. 4. All pending applications also stand disposed of accordingly. November 04, 2024 Mohit goyal 1. Whether speaking/reasoned? 2. Whether reportable? IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH M/S MARWAH FINANCE PRIVATE LIMITED Vs. OF INDIA AND OTHERS **** HON’BLE MR. JUSTICE SANJEEV PRAKASH SHARMA HON’BLE MR. JUSTICE SANJAY VASHISTH **** Mr. Dharan Goel, Advocate (through VC) Mr. Yogesh Putney, Sr. Standing Counsel with Mr. Vaibhav Gupta, Standing Counsel for the respondents/Revenue. **** SANJEEV PRAKASH SHARMA, J.(Oral) It is stated that the Income Tax Appellate Tribunal (ITAT) order passed by the Pr.CIT under section 263 of Income Tax Act, 1961, vide its order dated 24.05.2024. The said order In view of the said order, the impugned assessment order will be set aside and the matter has become infructuous. The ITAT has already remanded the matter back to the Pr.CIT for passing of fresh order. thereof, the proceedings before the Pr.CIT shall continue. Present writ petition stands disposed of. ding applications also stand disposed of accordingly. (SANJEEV PRAKASH SHARMA , 2024 1. Whether speaking/reasoned? Yes/No 2. Whether reportable? Yes/No IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CWP-22543-2022 (O&M) Date of Decision: 04.11.2024 M/S MARWAH FINANCE PRIVATE LIMITED . . . . Petitioner . . . . Respondents HON’BLE MR. JUSTICE SANJEEV PRAKASH SHARMA SANJAY VASHISTH (through VC) for the petitioner. Mr. Yogesh Putney, Sr. Standing Counsel with Mr. Vaibhav Gupta, Standing Counsel Income Tax Appellate Tribunal (ITAT) has set aside the order passed by the Pr.CIT under section 263 of Income Tax Act, 1961, vide its order dated 24.05.2024. The said order passed by the ITAT is taken on assessment order will therefore have be set aside and the matter has become infructuous. The ITAT has already remanded the matter back to the Pr.CIT for passing of fresh order. In view thereof, the proceedings before the Pr.CIT shall continue. ding applications also stand disposed of accordingly. SANJEEV PRAKASH SHARMA) JUDGE (SANJAY VASHISTH) JUDGE Yes/No Yes/No (O&M) .2024 Petitioner s has set aside the order passed by the Pr.CIT under section 263 of Income Tax Act, 1961, vide is taken on have be set aside and the matter has become infructuous. The ITAT has already In view MOHIT GOYAL 2024.11.04 17:37 I attest to the accuracy and integrity of this document "