Itr/139/2000 Of The Commissioner Of Income Tax Kolhapur v. Balasaheb Desai S.s.k.ltd.,Daulatnagar

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX REFERENCE NO. 139 OF 2000 The Commissioner of Income Tax,Kolhapur v/s. .. Applicant Balasaheb Desai Sahakari Sakhar Karkhana Ltd. .. Respondent Mr. Suresh Kumar a/w Ms. Kanani for the applicant None for the respondent CORAM : M.S. SANKLECHA & A.K. MENON, J.J. P.C. DATED : 5[th] AUGUST, 2016. 1.This Reference under Section 256(1) of the Income Tax Act, 1961 (the Act) relates to Assessment Year 1985-86. 2.Mr. Suresh Kumar, learned Counsel appearing for the applicant Revenue files an affidavit of Mr. S.B. Shinde, Asstt. Commissioner of Income Tax, dated 21[st] July, 2016 stating that the tax effect involved in the present Reference is Rs. 4.93 lakhs. Thus below the threshold limits of Rs.20 lakhs as provided in the Central Board of Direct Tax No.21/2015 as clarified by Circular dated 8[th] March, 2016, the present Reference is not being pressed. 3.In the aforesaid circumstances, the Reference is returned unanswered. However, the questions as framed for our opinion in this Reference are left open to be considered in an appropriate case, if not already decided. 4.The Reference is disposed of in the above terms. (A.K. MENON, J.) (M.S. SANKLECHA, J.)