The Commissioner Of Income Tax-I], Jalandhar v. M/S Zoloto Industries (Regd.), Jalandhar

IN THE HIGH COURT OF PUNJAB & HARYANAAT CHANDIGARH whe ITA No.13 of 2013 (O&M)Date of Decision: 03.10.2018whe The Commissioner of Income Tax-I], Jalandhar Versus ..... Appellant M/s Zoloto Industries (Regd.), Jalandhar ..... Respondent CORAM: HONBLE MR. JUSTICE SURYA KANTHONBLE MR. JUSTICE SUDIP AHLUWALIA Present:Mr. Vivek Sethi, Advocate, for the appellant. SURYA KANT J. (ORAL) (1)Learned counsel for Revenue states that the tax effect involvedin this case 1s|29,85,090/- 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, the tax effect being less than4-.lacs, he does not want to press this appeal on merits. (2)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. (SURYA KANT)JUDGE 03.10.2018 Bhumika (SUDIP AHLUWALIA)JUDGE 1. Whether speaking/reasoned;Yes2. Whether reportable:No