Itxa/2239/2013 Of The Commissioner Of Income Tax-V v. Gkn Sinter Metals Pvt. Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 2239 OF 2013 The Commissioner of Income Tax-V, Pune .. Appellant v/s. GKN Sinter Metals Pvt. Ltd. .. Respondent Mr. Tejveer Singh for the appellant Mr. Jitendra Jain a/w Mr. Atul Jasani for the respondent CORAM : M.S. SANKLECHA & B.P. COLABAWALLA, J.J. DATED : 23[rd] FEBRUARY, 2016. P.C. 1.This Appeal relates to Assessment Year 2003-04. 2.Mr. Tejveer Singh, learned Counsel for the Revenue files an affidavit dated 19[th] February, 2016 of one Mr. P.N. Nair, Assistant Commissioner of Income Tax. In the affidavit, it has been stated that inadvertently in the memo of appeal the tax effect was indicated at Rs.32.17 lakhs when it is only Rs.16.66 lakhs. The affidavit is taken on record. 3.Mr. Tejveer Singh, learned Counsel for the Revenue states that the tax effect involved in the present appeal is less than Rs.20 lakhs. He further states that in view of the Central Board of Direct Tax Circular No.21/15, dated 10[th] December, 2015, the tax effect being less than the threshold limits of Rs.20 lakhs provided therein to challenge an order of the Tribunal before this Court and the direction therein to withdraw or not to press the pending appeals having a tax effect of less than Rs. 20 lakhs, he is instructed not to press the present appeal. 4.Accordingly, the appeal is dismissed as not pressed. Refund of Court fees as per Rules. (B.P. COLABAWALLA, J.) (M.S. SANKLECHA, J.)