Ita/335/2017 Of Pr. Commissioner Of Income Tax, Panchkula v. M/S Saraswati Industrial Syndicate Ltd

HIGH COURT OF PUNJAB AND HARYANA ATCHANDIGARH. FSR S ITA No.335 of 2017 (O&M)Date of Decision: 13.09.2018 FSR S Pr.Commissioner of Income Tax, Panchkula...Appellant VS| M/s Saraswati Industrial Syndicate Ltd.... Respondent| KK O Coram: Hon’ble Mr.Justice Surya KantHon’ble Mr.Justice Sudip AhluwaliaHon’ble Mr.Justice Sudip Ahluwalia FE SE Present:Mr. Yogesh Putney, Advocate for the appellant © Mr. Alok Mittal, Advocate for the respondent| FE SE SURYA KANT J. (Oral) ()*Learned counsel for Revenue states that the tax effect involved|in this case 1s)a26,67,/90/- 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, a photocopy whereof is taken onrecord and is marked as Mark ‘A’, the tax effect being less thana50 lacs,he does not want to press this appeal on merits. (+*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. | 13.09.2018vishal shonkar 1. Whether speaking/reasoned?Yes2. Whether reportable? |NoV.Vishal2018.09.17 16:57I attest to the accuracy andintegrity of this document (Surya Kant)Judge (Sudip Ahluwalia)Judge