The Pr. Commissioner of Income-tax-6, Pune v. Subhash Deshmukh & Company
[Citation -2020-LL-0123-50]
| Citation | 2020-LL-0123-50 |
|---|---|
| Appellant Name | The Pr. Commissioner of Income-tax-6, Pune |
| Respondent Name | Subhash Deshmukh & Company |
| Court | HIGH COURT OF BOMBAY |
| Relevant Act | Income-tax |
| Date of Order | 23/01/2020 |
| Assessment Year | 2008-09 |
| Judgment | View Judgment |
| Keyword Tags | monetary limit • tax effect |
| Bot Summary: | Heard Mr. Tejveer Singh, learned standing counsel revenue for the appellant. This appeal under Section 260A of the Income Tax Act, 1961 has been preferred by the revenue against the order dated 31.08.2016 passed by the Income Tax Appellate Tribunal, Pune Bench A , Pune in ITA No.835/PN/2014 for the assessment year 2008-09. Mr.Tejveer, learned standing counsel fairly submits that the disputed tax affect in this appeal is Rs.21,15,000/-. As per Circular No.17 of 2019 of Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes dated 08.08.2019, the monetary limit for filing of appeal by the Department before the High Court has been enhanced to Rs.1 Crore. In other words, if the tax effect is less than Rs.1 Crore, the Department will not file appeal before the High Court and if appeal has been filed the same would stand withdrawn, subject to the conditions mentioned in the Circular. In the light of the above, the present appeal is dismissed as withdrawn in terms of the above Circular. |