Income Tax Appeal v. Order

Sharayu Khot. IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 1064 OF 2015 ALONG WTH INCOME TAX APPEAL NO. 1066 OF 2015 The Commissioner of Income Tax-6…Appellant Versus Lokmangal Co-op. Bank Ltd.…Respondent ---------- Mr. Tejveer Singh, for the Appellant. Mr. Ruturaj Gurjar, i/by Mr. Mihir Naniwadekar, for theRespondent. ---------- CORAM :M.S. SANKLECHA &RIYAZ I. CHAGLA, JJ. DATE : 20 February 2018 ORDER : 1.These two Appeals arise out of a common impugnedorder dated 28 November 2014 in respect of Assessment Years 1/4 2.Mr. Tejveer Singh, learned Counsel appearing forthe Revenue, invited our attention to Circular No. 21 of 2015issued by the Central Board for Direct Tax dated 10December2015. In particular, our attention is invited to paragraphs No. 3, 5 and 10 therein, which read as under:- 3.Henceforth, appeals/SLPs shall not be filed incases where the tax effect does not exceed themonetary limits given hereunder:-cases where the tax effect does not exceed themonetary limits given hereunder:- S. No.Appeals in Income Tax mattersMonetary Limit(in Rs.)1Before Appellate Tribunal10,00,000/-2Before High Court20,00,000/-3Before Supreme Court25,00,000/- It is clarified that an appeal should not be filedmerely because the tax effect in a case exceedsthe monetary limits prescribed above. Filing ofappeal in such cases is to be decided on meritsof the case. 2/4 However, in case of a composite order of anyHigh Court or appellate authority, whichinvolves more than one assessment year andcommon issues in more than one assessmentyear, appeal shall be filed in respect of all suchassessment years even if the 'tax effect' is lessthan the prescribed monetary limits in any ofthe year (s), if it is decided to file appeal inrespect of the year(s) in which 'tax effect'exceeds the monetary limit prescribed. In casewhere a composite order/judgment involvesmore than one assessee, each assessee shall bedealt with separately.” 10) This instruction will apply retrospectively topending appeals and appeals to be filedhenceforth in High Courts/ Tribunals. Pendingappeals below the specified tax limits in para 3above may be withdrawn/not pressed. Appealsbefore the Supreme Court will be governed bythe instructions on this subject, operative at thetime when such appeal was filed.pending appeals and appeals to be filedhenceforth in High Courts/ Tribunals. Pendingappeals below the specified tax limits in para 3above may be withdrawn/not pressed. Appealsbefore the Supreme Court will be governed bythe instructions on this subject, operative at thetime when such appeal was filed. 3. Mr. Tejveer Singh, the learned Counsel for the Revenue, states that the tax effect involved in both theseAppeals is below threshold limits of Rs. 20.00 Lakhs. 4.In view of the above, Mr. Tejveer Singh, learnedCounsel appearing for the Revenue, is instructed not to pressboth these Appeals. 3/4 49&51-ITXA-1064-1066-15.doc 5.Accordingly, both these Appeals are dismissed, asnot pressed. 6.Refund of Court Fees, as per Rules. [RIYAZ I. CHAGLA J.] [M.S. SANKLECHA, J.] 4/4