In Ita/1043/2011 Of Panasonic Industrial Asia Pte Limited v. Deputy Director Of Income Tax, the High Court (2011) dismissed the appeal. The decision went in favour of the Revenue.
Decision: These appeals are hereby dismissed as withdrawn in view of aforesaidobservations.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
J
% 06.o9.20r.r.
Present: Mr. Salil Kapoor and Mr. Sanat Kapoor, Advocates for theAppellant/assessee.Mr. Ruches Sinha for Mr. N.P. Sahni, Advocate for therespondent/reven ue.
f [Nos.lO43 ][^]
ln these appeals, the appellant /assessee has challenged the reopeningof the assessment under Section 148 of the Income Tax Act. [Otherwise, the]appellant/ assessee accept that the Tribunal has [given ]substantial relief [to]the appellant on merits.
In case the revenue comes in appeal, it will be open to the appellant/assessee to file cross objections challenging the validity of reassessmentproceedings.
These appeals are hereby dismissed as withdrawn in view of aforesaidobservations.
A.K. S
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SEPTEMBER 06, 2OL1rd
J.R [MIDHA, ]J.
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