Itr/50/2002 Of Commissioner Of Income Tax v. New Era Talkies

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX REFERENCE NO.50 OF 2002 Commissioner of Income TaxVersusM/s.New Era Talkies ..Applicant ..Respondent ........... Mr. P. C. Chhotaray for the Applicant. ........... CORAM: M. S. SANKLECHA & A. K. MENON, JJ. DATE : 19[th] AUGUST, 2016 P.C.: This Reference relates to A.Y. 1993-94. 2.Mr. Chhotaray, the learned counsel appearing for the Revenue tenders an affidavit of Ms. Radkhika Nair, Income Tax Officer, dated 11[th ]August, 2016 wherein she states that the tax effect involved in the present Reference is Rs.23,000/-. In view of the above, Mr. Chhotaray states that the tax effect being less than the threshold limit of 20 lakhs as provided in the CBDT Circular No.21 of 2015 dated 10[th] December, 2015 and as clarified by Instruction dated 8[th] March, 2016 the above Circular is applicable even to Reference, he does not press the questions raised herein. 2 3.In the above view, the Reference is returned unanswered. However, it is made clear that the questions raised herein are left open for consideration in an appropriate case, if not already decided.it is made clear that the questions raised herein are left open for consideration in an appropriate case, if not already decided. 4.Reference is disposed of in above terms. (A. K. MENON, J.) (M. S. SANKLECHA, J.)