Appellan v. M/S Avery Cycle Industries Ltd

IN THE HIGH COURT OF PUNJAB AND HARYANA ATCHANDIGARH. ITA-272-2016(0&M) Date of decision: 28.03.2019 Pr. Commissioner of Income Tax-2, Ludhiana © ... Appellan Versus M/s Avery Cycle Industries Ltd. ... Responden CORAM: HON’BLE MR. JUSTICE KRISHNA MURARI,CHIEF JUSTICEHON’BLE MR. JUSTICE ARUN PALLI, JUDGECHIEF JUSTICEHON’BLE MR. JUSTICE ARUN PALLI, JUDGE Present: |Mr. Rajesh Katoch, Advocate, for the appellant.RERE KRISHNA MURARI, C.J.(Oral) Learned counsel for the appellant-revenue states that since thetax effect involved is less than Rs.50 lacs, he has instructions to withdrawthe present appeal in view of Circular No. 03/2018, dated 11.07.2018 issuedby the Central Board of Direct Taxes, New Delhi. However, he has prayedthat liberty be granted to the revenue to file an application for revival of theappeal in case something survives therein. |Dismissed as withdrawn with liberty as prayed for. It is,however, clarified that withdrawal of the appeal by the revenue shall not betaken to be affirmation of order of the Tribunal on merits. Further, the legalissue aS claimed by the revenue is being left open to be adjudicated in anappropriate case. ( Krishna Murari) | Chief Justice ( Arun Pall ) Judge 28.03.2019RajanRajan Whether speaking / reasoned:YESWhether Reportable: NO