Ita/475/2006 Of The Commr. Of Income Tax-Iii Ldh v. M/S Vijay ;Kiran Hotels (P) Ltd

IN THERE HIGH COURT OR PUNJAB AND HARYANA|AT CHANDIGARH ITA No. 475 of 2006 (O&M) Date of Decision: 11.05.2016 Commissioner of Income Tax-III, Ludhiana ....... Appellant *$+',' M/s Vijay Kiran Hotels (P) Ltd., ....Respondent CORAM: HON'BLE MR. JUSTICK RAJESH BINDALHON'BLE MR. JUSTICE HARINDER SINGH SIDHUHON'BLE MR. JUSTICE HARINDER SINGH SIDHU Present:Mr. Rajesh Katoch, Advocatefor the appellant.for the appellant. None for the respondent. RAJESH BINDAL,J. This appeal has been filed under Section 260 A of the IncomeTax Act, 1961 (for short ‘the Act’), against the order dated16.12.2005 passed by the Income Tax Appellate Tribunal, ChandigarhBench (B), in ITA No. 32/Chandi/2004, for the assessment year 1998-99)raising the following substantial question of law: Whether on the facts and circumstances of the case, theHon'ble ITAT was justified in holding that expenditureot|=a8,11,022 was allowable without appreciating thefacts of the case? Learned counsel for the appellant-revenue submitted that inview oft circular No21/2015 dated 10.12.2015 read with circularNo.279/Misc/M-142/2007-ITJ (Part) dated 8.3.2016, issued by CentralBoard of Direct Taxes, he does not wish to press the present appeal, as thetax effect involved is less thanLy20 lacs. However, he prays that liberty begranted to the revenue to file an application for revival of the appeal in casesomething survives therein. Dismissed as not pressed with liberty as prayed for. It ishowever, clarified that withdrawal of the appeal by the revenue shall not betaken as affirmation of order of the Tribunal on merits. The legal issue asclaimed by the revenue is left open to be adjudicated in an appropriate case, (RAJESH BINDAL)JUDGE 11.05.2016T@eIN (HARINDER SINGH SIDHU)JUDGE