Commissioner Of Income Tax, Chandigarh-Il v. M/S Indian Acrylics Ltd

IN THE HIGH COURT OF PUNJAB AND HARYANA.AT CHANDIGARH ITA-217-2007 (O&M)Date of Decision: 19.12.2022 Commissioner of Income Tax, Chandigarh-Il ...Appellant Vs. M/s Indian Acrylics Ltd. ...Respondent CORAM:-HON'BLE MR. JUSTICETEJINDER SINGH DHINDSAHON'BLE MR. JUSTICE SANJITV BERRY Present:Mr. Yogesh Putney, Senior Standing Counselfor the appellant. Mr. Shantanu Bansal, Advocatefor the respondent. TEIJINDER SINGH DHINDSJe(Oral) Learned Senior Standing Counsel appearing for the appellant-Revenue has referred to the communication dated 16.12.2022 from theoffice of Principal Commissioner of Income Tax (Central), Gurugramaddressed to him and in terms of which withdrawal of the instant appealfiled under Section 260-A of Income Tax Act, 1961 1s sought on accountof the low tax effect. In view of the above, appeal is dimissed as withdrawn. It 1s, however, clarified that withdrawal of the appeal by theappellant-Revenue shall not be taken to be an affirmation of the order ofthe Tribunal on merits. However, the legal issues as claimed by theappellant-Revenue are being left open to be adjudicated in a proper case. ITA-217-2007 (O&M) At this stage, learned senior standing counsel prays that libertybe also granted to the appellant-Revenue to file an application for therevival of the appeal, if something survives. Liberty as prayed for, is granted. Since the main appeal is dismissed as withdrawn, pendingmiscellaneous application(s), if any, shall also stand withdrawn. (TEJINDER SINGH DHINDSA)JUDGE 19.12.2022kv (SANJIV BERRY)JUDGE Whether speaking/reasonedYes/NoWhether reportable|Yes/No