Itxa/1146/2009 Of The Commissioner Of Income Tax-7,Mumbai v. M/S Psl Holdings Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 1146 OF 2009 The Commissioner of Income-Tax-VIIMumbai .. Appellant v/s. M/s. PSL Holdings Ltd. ..Respondent Mr. Abhay Ahuja a/w Ms. Sangeeta Yadav for the appellant None for the respondent CORAM : AKIL KURESHI & M.S. SANKLECHA, J.J. P.C. DATED : 21[st] NOVEMBER, 2018. 1.This appeal challenges the order dated 7[th] June, 2007 passed bythe Income Tax Appellate Tribunal. 2.Mr. Ahuja, learned Counsel appearing in support of the appealinvites our attention to the Circular No.3/2008 dated 11[th] July, 2018issued by the Central Board of Direct Taxes which inter alia directs theRevenue not to press the pending appeals where the tax effect is lessthan Rs.50 lakhs. 3.In view of the above Circular, Mr. Ahuja has been instructed not to press the appeal as the tax effect involved in the present appeal isless than the threshold limits of Rs.50 lakhs. 4.Accordingly, the appeal is dismissed as not pressed. 5.Refund of Court Fees as per Rules. (M.S. SANKLECHA, J.) (AKIL KURESHI, J.)