Principal Commissioner of Income-tax-2 v. Intas Pharmaceuticals Ltd
[Citation -2020-LL-0731-52]
| Citation | 2020-LL-0731-52 |
|---|---|
| Appellant Name | Principal Commissioner of Income-tax-2 |
| Respondent Name | Intas Pharmaceuticals Ltd. |
| Court | HIGH COURT OF GUJARAT AT AHMEDABAD |
| Relevant Act | Income-tax |
| Date of Order | 31/07/2020 |
| Judgment | View Judgment |
| Keyword Tags | monetary limit • low tax effect |
| Bot Summary: | The Registry has notified the appeal for the purpose of passing an appropriate order. The captioned appeal has been notified because of the low tax effect. The appeal is to be disposed of keeping in mind the Circular No.17/2019, dated 8th August, 2019 issued by the Government of India, Ministry of Finance, Department of Revenue, Central Board Direct Taxes, New Delhi. This tax appeal is not pressed in view of the low tax effect having regard to the Circular No.17/2019, dated 8th August, 2019 issued by the Government of India, Ministry of Finance, Department of Revenue, Central Board Direct Taxes, New Delhi. According to the new policy as reflected from the Circular referred to above, the table for monetary limits is as follows: Sr. Appeals/SLPs in Income tax matters Monetary Limit No. 1 Before Appellate Tribunal 50,00,000 2 Before High Court 1,00,00,000 3 Before Supreme Court 2,00,00,000 4. In view of the aforesaid, the appeal is disposed of accordingly. In case of any difficulty, we reserve the liberty for the Revenue to revive the tax appeal. |