Commissioner of Income-tax-LTU v. Airline Financial Support Services (India) Ltd
[Citation -2020-LL-0127-230]
Citation | 2020-LL-0127-230 |
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Appellant Name | Commissioner of Income-tax-LTU |
Respondent Name | Airline Financial Support Services (India) Ltd. |
Court | HIGH COURT OF BOMBAY |
Relevant Act | Income-tax |
Date of Order | 27/01/2020 |
Assessment Year | 2003-04, 2001-02 |
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 31.05.2016 passed by the Income Tax Appellate Tribunal, A Bench Mumbai in ITA Nos.2547 2549/Mum/2012 for the assessment years 2003-04 2001-02. It is seen that the tax effect in the appeal is Rs.21,49,140/-. In view of 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the High Court where the tax effect is less than Rs.1 Crore and in case appeal has been filed, the same would stand withdrawn subject to the conditions mentioned in the said Circular. Mr. Singh, learned standing counsel revenue for the appellant submits that he has not received any instructions from the department. In the light of the above, the present appeal is dismissed as withdrawn in terms of the above Circular. |