Itxa/1359/2014 Of Commissioner Of Income Tax-16 v. The Panchratna Co-Operative Housing Society Ltd

Sbw 1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1359 OF 2014WITHINCOME TAX APPEAL NO.1360 OF 2014WITHINCOME TAX APPEAL NO.1435 OF 2014WITH INCOME TAX APPEAL NO.1436 OF 2014 Commissioner of Income Tax-16VersusThe Panchratna Co-operative HousingSociety Ltd. ..Appellant ..Respondent ........... Mr. N. A. Kazi i/b. A. R. Malhotra for the Appellant.Mr. S. Mohalkar a/w Amol B. Kharat i/b. Pillai & Co. for the Respondent. ........... CORAM: M. S. SANKLECHA & A. K. MENON, JJ. DATE : 24[th] JANUARY, 2017 P.C. 1.These four appeals relates to Assessment Years 1995-96, 1997-98, 1998-99 and 1999-2000 arising from a common order dated 13[th ]December, 2013 of the Income Tax Appellate Tribunal (Tribunal). 2. Mr. Kazi, the learned counsel appearing for the appellant-Revenue states that the tax effect involved in all the four appeals is less than the threshold limit of Rs.20 lakhs and therefore would stand covered by the Central Board for Direct Tax Circular no.21 of 2015 dated 10[th] December, 2015. In particular, our attention invited to paragraphs 3, 5 and 10 therein which read as under:- “3:-Henceforth, appeals/SLPs shall not be filed in cases where the tax effect does not exceed the monetary limits given hereunder:- It is clarified that an appeal should not be filed merely because the tax effect in a case exceeds the monetary limits prescribed above. Filing of appeal in such cases is to be decided on merits of the case.” “5. ….....….. However, in case of a composite order of any High Court or appellate authority, which involves more than one assessment year and common issues in more than one assessment year, appeal shall be filed in respect of all such assessment years even if the 'tax effect' is less than the prescribed monetary limits in any of the year(s), if it is decided to file appeal in respect of the year(s) in which 'tax effect' exceeds the monetary limit prescribed. In case where a composite order / judgment involves more than one assessee, each assessee shall be dealt with separately.” “10:-This instruction will apply retrospectively to pending appeals and appeals to be filed henceforth in High Courts/ Tribunals. Pending appeals below the specified tax limits in para 3 above may be withdrawn/not pressed. Appeals before the Supreme Court will be governed by the instructions on this subject, operative at the time when such appeal was filed.” 4.Mr. Kazi, on instructions, states that all the four appeals are not being pressed. Accordingly, all the Appeals are dismissed, as not pressed. 5. Refund of Court Fees, as per Rules. (A. K. MENON, J.) (M. S. SANKLECHA, J.) Wadhwa