Pr. Commissioner of Income-tax (Central), Nagpur v. Dilip D. Jain
[Citation -2020-LL-0123-55]
| Citation | 2020-LL-0123-55 |
|---|---|
| Appellant Name | Pr. Commissioner of Income-tax (Central), Nagpur |
| Respondent Name | Dilip D. Jain |
| Court | HIGH COURT OF BOMBAY |
| Relevant Act | Income-tax |
| Date of Order | 23/01/2020 |
| Assessment Year | 2006-07 |
| Judgment | View Judgment |
| Keyword Tags | monetary limit • tax effect |
| Bot Summary: | Heard Mr. Sham Walve, 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 14.12.2016 passed by the Income Tax Appellate Tribunal, Pune Bench A , Pune in ITA No.1209/PN/2014 for the assessment year 2006-07. Mr.Walve, learned standing counsel fairly submits that the disputed tax effect in this appeal is Rs.11,53,425/-. 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, no appeal will be filed by the Department before the High Court where the tax effect is less than Rs.1 Crore and in case appeal has been filed, the same would stand withdrawn subject to the conditions mentioned in the said Circular. In the light of the above, the present appeal is dismissed as withdrawn in terms of the above Circular. |