Pr. Commissioner Of Income Tax, Jalandhar-I, Jalandhar v. M/S Kapsons Industries Limited, Jalandhar

IN THE HIGH COURT OF PUNJAB AND HARYANA|AT CHANDIGARH ITA No.25 of 2017(O&M)Date of Decision °:15.12.201 Pr. Commissioner of Income Tax, Jalandhar-I, Jalandhar ..--- Appellant Versus M/s Kapsons Industries Limited, Jalandhar eee RESpondent CORAM: HON'BLE MR.JUSTICE KRISHNA MURARI, CHIEF JUSTICEHON'BLE MR.JUSTICE ARUN PALLI, JUDGE Present ;Mr. Vivek Sethi, Advocate for the appellant. KRISHNA MURARI, CHIEF JUSTICE(Oral) Learned counsel for the appellant-revenue states that since thetax effect involved is Rs.23,30,295/-, 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granted to the revenue to file an application for revival of theappeal in case something survives therein, Dismissed as withdrawn with liberty as prayed for.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 15.12.2018Manoj Bhutani Whether speaking/reasonedWhether reportable Yes/NoYes/No