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Principal Commissioner Of Income-Tax, Faridabad v. M/S Paramount Rubber Industries

High Court 03 Mar 2016 In favour of: Assessee

Forum / Bench

High Court · phhc

Parties

Date of order

03 Mar 2016

Assessment year(s)

—

Outcome

Dismissed

Case summary

In Principal Commissioner Of Income-Tax, Faridabad v. M/S Paramount Rubber Industries, the High Court (2016) dismissed the appeal. The decision went in favour of the assessee.

Summary auto-generated from the order below — read the full judgment for the complete reasoning.

The order — as passed by the High Court

IN THE HIGH COURT OF PUNJAB AND HARYANAAT CHANDIGARH ITA No. 19 of 2016 (O&M)Decided on : 03.03.2016 Principal Commissioner of Income-tax, Faridabad Versus M/s Paramount Rubber Industries ... Appellant ... Respondent CORAM: HON'BLE MR. JUSTICE AJAY KUMAR MITTALHON'BLE MRS. JUSTICE RAJ RAHUL GARG PRESENT: Mr. Tajender K. Joshi, Advocate,for the appellant. **** AJAY KUMAR MITTAL, J. (@RAL) Learned counsel for the appellant-revenue States that the tax effectinvolved in the present case is411,53,623/-, he has instructions to withdrawthe present appeal in view of the circular No.21/2015, dated 10.12.2015 issuedby the C.B.D.T., New Delhi. However, he prayed that liberty be granted to therevenue to file an application for revival of the appeal in case somethingsurvives therein. 2.Dismissed as withdrawn with liberty as prayed for. It is, however,clarified that withdrawal of the appeal by the revenue shall not be taken to beaffirmation of order of the Tribunal on merits. Further, the legal issue asclaimed by the revenue is being left open to be adjudicated in an appropriateCase. (AJAY KUMAR MITTAL)JUDGE March 03, 2016 Davinder Kumar (RAJ RAHUL GARG)JUDGE

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