Pr. Commissioner of Income-tax-1 v. Syngenta Biosciences Pvt. Ltd
[Citation -2020-LL-0127-238]
| Citation | 2020-LL-0127-238 |
|---|---|
| Appellant Name | Pr. Commissioner of Income-tax-1 |
| Respondent Name | Syngenta Biosciences Pvt. Ltd. |
| Court | HIGH COURT OF BOMBAY |
| Relevant Act | Income-tax |
| Date of Order | 27/01/2020 |
| Assessment Year | 2008-09 |
| 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 26.08.2016 passed by the Income Tax Appellate Tribunal, K Bench, Mumbai in ITA No.1083/MUM/2015 for the assessment year 2008- 09. It is seen that the tax effect in the appeal is Rs.53.35 lakhs. 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the High Court where the tax effect is less than Rs.1 Crore and in case appeal has been filed, the same would stand withdrawn subject to the conditions mentioned in the said Circular. In the light of the above, the present appeal is dismissed as withdrawn in terms of the above Circular. |