Ita/261/2016 Of Pr. Commissioner Of Income Tax-2 Ludhiana v. M/S Avon Ispat & Powers Ltd Ludhiana

IN THE HIGH COURT OF PUNJAB AND HARYANA|AT CHANDIGARH ITA No.261 of 2016 (O&M)Date of Decision :09.09.2019 Pr. Commissioner of Income-Tax-2, Ludhiana 2 '#-# ..--- Appellant M/s Avon Ispat & Power Ltd. eee RESpondent CORAM: HON'BLE MR.JUSTICE KRISHNA MURARI, CHIEF JUSTICE HON'BLE MR.JUSTICE ARUN PALLI, JUDGE Present ;Mr. Sandeep Goyal, Advocate and Mr. Chetan Sood, Advocate for the appellant. Mr. Alok Mittal, Advocate for the respondent. KRISHNA MURARI, CHIEF JUSTICE(Oral) Learned counsel for the appellant-revenue states that since thetax effect involved is less than|450 lacs, he has instructions to withdraw thepresent appeal in view of Circular No. 03/2018, dated 11.07.2018 issued bythe Central Board of Direct Taxes, New Delhi. However, he has prayed thatliberty 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granted to the revenue to file an application for revival of theappeal in case something survives therein, Dismissed as withdrawn with liberty as prayed for.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 MURARITCHIEF JUSTICE (ARUN PALLI)JUDGE 09.09 2019Manoj Bhutani Whether speaking/reasonedYes/NoWhether reportableYes/No