The Pre. Commissioner Of Income Tax-3, Ludhiana v. M/S Nikkamal Jewellers, Ludhiana
High Court
26 Sep 2018 In favour of: Assessee
Forum / Bench
High Court · phhc
Parties
The Pre. Commissioner Of Income Tax-3, Ludhiana v. M/S Nikkamal Jewellers, Ludhiana
Date of order
26 Sep 2018
Assessment year(s)
—
Outcome
Dismissed
The order — as passed by the High Court
Case summary
In The Pre. Commissioner Of Income Tax-3, Ludhiana v. M/S Nikkamal Jewellers, Ludhiana, the High Court (2018) dismissed the appeal. The decision went in favour of the assessee.
Issue: Whether speaking/reasoned:Yes2.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF PUNJAB & HARYANAAT CHANDIGARHhe f
ITA No.60 of 2016Date of Decision: 26.09.2018
he f
The Pre. Commissioner of Income Tax-3, Ludhiana
..... Appellant
Versus
M/s Nikkamal Jewellers, Ludhiana
..... Respondent
CORAM: HONBLE MR. JUSTICE SURYA KANTHONBLE MR. JUSTICE SUDIP AHLUWALIA
Present:Mr. Rajesh Katoch, Advocate,
for the appellant.
Mr. Akshay Bhan, Senior Advocate withMr. Alok Mittal, Advocate,for the respondent.
SURYA KANT J. (QRAL)
,-.Learned counsel for Revenue states that the tax effect involvedin this case 1s444.16,573/- 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 than 414lacs, 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
26.09.2018Bhumika
(SUDIP AHLUWALIA)JUDGE
1. Whether speaking/reasoned:Yes2. Whether reportable:NO2. Whether reportable:NO
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