2018 (8) TMI 1138 - HC - Income Tax

Withdrawal of appeal due to low tax effect - Held that - Dismissed as withdrawn with liberty as prayed for.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 be affirmation of order of the Tribunal on merits

Summary

The Punjab and Haryana High Court dismissed the appeal by the revenue with tax effect of Rs. 25,13,960, in accordance with Circular No.03/2018. The revenue was granted liberty to file for appeal revival if necessary, without affirming the Tribunal's order on merits. Legal issue claimed by the revenue was left open for future adjudication.