Commissioner Of Income Tax-Iii, Ludhiana v. M/S Sunrise Stock Services (P) Ltd

IN THE HIGH COURT OF PUNJAB & HARYANAAT CHANDIGARHhe f ITA No.572 of 2010 (O&M)Date of Decision: 26.09.2018he f Commissioner of Income Tax-III, Ludhiana ..... Appellant Versus M/s Sunrise Stock Services (P) Ltd. ..... Respondent CORAM: HONBLE MR. JUSTICE SURYA KANTHONBLE MR. JUSTICE SUDIP AHLUWALIA Present:Mr. Rajesh Katoch, Advocate,for the appellant. Mr. Akshay Bhan, Senior Advocate withMr. Alok Mittal, Advocate,for the respondent. SURYA KANT J. (QRAL) !+#Learned counsel for Revenue states that the tax effect involvedin this case 1s448,44,179/- and in view of the recent Circular No.3/2018dated 11.07.2018 issued by the Ministry of Finance, Department ofRevenue, Central Board Direct Taxes, the tax effect being less than 483lacs, he does not want to press this appeal on merits. (2)In view of the CBDT Circular, the instant appeal is dismissedas not pressed. As prayed for by learned counsel for the appellant, liberty isgranted to the Revenue to seek revival of the appeal, if need be, in thechanged circumstances. The question of law is also kept open. (SURYA KANT)JUDGE 26.09.2018Bhumika (SUDIP AHLUWALIA)JUDGE 1. Whether speaking/reasoned:Yes 2. Whether reportable:NO