Commissioner Of Income Tax-I v. Textile Cooperative Bank Of Surat Limited ==========================================================

IN THE HIGH COURT OF GUJARAT AT AHMEDABADR/TAX APPEAL NO. 841 of 2009 ========================================================== COMMISSIONER OF INCOME TAX-I Versus TEXTILE COOPERATIVE BANK OF SURAT LIMITED ========================================================== Appearance:MR. NIKUNT RAVAL for MRS KALPANAK RAVAL(1046) for the Appellant(s) No. 1 MR BANDISH SOPARKAR for MRS SWATI SOPARKAR(870) for the Opponent(s) No. 1 ========================================================== CORAM: HONOURABLE MS. JUSTICE SONIA GOKANIandHONOURABLE MR. JUSTICE HEMANT M. PRACHCHHAK Date : 20/10/2021 ORAL ORDER (PER : HONOURABLE MS. JUSTICE SONIA GOKANI) 1.The captioned appeal concerns the low tax effect. Theappeal is to be disposed of keeping in mind the CircularNo.17/2019, dated 8[th] August, 2019 issued by the Governmentof India, Ministry of Finance, Department of Revenue, CentralBoard Direct Taxes, New Delhi. 2. This tax appeal is not pressed in view of the low taxeffect having regard to the Circular No.17/2019, dated 8thAugust, 2019 issued by the Government of India, Ministry ofFinance, Department of Revenue, Central Board Direct Taxes,New Delhi. 3. According to the new policy as reflected from the Circular referred to above, the table for monetary limits is asfollows: 4. Since the amount of penalty involved in the present appeal is Rs. 34,40,000/-, in view of the aforesaid, the appeal isdisposed of accordingly. 5.In case of any difficulty, we reserve the liberty for theRevenue to revive the tax appeal. (SONIA GOKANI, J) Bhoomi (HEMANT M. PRACHCHHAK,J)