IN HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITA No.261 of 2016 (O&M) Date of Decision :09.09.2019 Pr. Commissioner of Income-Tax-2, Ludhiana Appellant Versus M/s Avon Ispat & Power Ltd. Respondent CORAM: HON'BLE MR.JUSTICE KRISHNA MURARI, CHIEF JUSTICE HON'BLE MR.JUSTICE ARUN PALLI, JUDGE Present : Mr. Sandeep Goyal, Advocate and Mr. Chetan Sood, Advocate for appellant. Mr. Alok Mittal, Advocate for respondent. KRISHNA MURARI, CHIEF JUSTICE (Oral): Learned counsel for appellant-revenue states that since tax effect involved is less than ` 50 lacs, he has instructions to withdraw present appeal in view of Circular No. 03/2018, dated 11.07.2018 issued by Central Board of Direct Taxes, New Delhi. However, he has prayed that liberty be granted to revenue to file application for revival of appeal in case something survives therein. 2. Dismissed as withdrawn with liberty as prayed for. It is, however, clarified that withdrawal of appeal by revenue shall not be taken to be affirmation of order of Tribunal on merits. Further, legal issue as claimed by revenue is being left open to be adjudicated in appropriate case. (KRISHNA MURARI) CHIEF JUSTICE (ARUN PALLI) JUDGE 09.09.2019 Manoj Bhutani Whether speaking/reasoned Yes/No Whether reportable Yes/No 1 of 1 Pr. Commissioner of Income-tax-2, Ludhiana v. Avon Ispat & Power Ltd