The Pre. Commissioner Of Income Tax-3, Ludhiana v. M/S Trident Alco-Chem Ltd., Ludhiana

IN THE HIGH COURT OF PUNJAB & HARYANAAT CHANDIGARHhe f ITA No.413 of 2016Date of Decision: 26.09.2018 he f The Pre. Commissioner of Income Tax-3, Ludhiana ..... Appellant Versus M/s Trident Alco-Chem Ltd., Ludhiana ..... Respondent CORAM: HONBLE MR. JUSTICE SURYA KANTHONBLE MR. JUSTICE SUDIP AHLUWALIA Present:Mr. Rajesh Sethi, Senior Standing Counsel withMr. Arun Biriwal, Advocate andMs. Pridhi Jaswinder Sandhu, Advocate,for the appellant. Mr. Manpreet Singh Kanda, Advocate,for the respondent. SURYA KANT J. (QRAL) *+,Learned counsel for Revenue states that the tax effect involvedin this case 1s427,18,060/- 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 470lacs, 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 26.09.2018 Bhumika (SUDIP AHLUWALIA)JUDGE 1. Whether speaking/reasoned;Yes2. Whether reportable:No