Itxa/3/2008 Of The Commissione Of Income-Tax,City-18,Mum v. M/S Looms India

Dixit IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.3 OF 2008 The Commissioner of Income Tax-18,Mumbai….Appellant V/s.M/s. Looms India, Mumbai….Respondent Mr. A.R. Malhotra, a/w. Mr. N.A. Kazi, for the Appellant. Mr. V.S. Hadade for the Respondent. CORAM : M.S. SANKLECHA &DR. SHALINI PHANSALKAR-JOSHI, J.J.DATE :15TH JANUARY 2016. P.C.: 1.This Appeal relates to the Assessment Year 1997-98. 2.Mr. Malhotra, learned counsel for the Revenue, points out that the tax effect in the present Appeal is of Rs.15.41 lakhs, as indicated in paragraph No.10 of the Memo of Appeal. The aforesaid amount is less than the threshold limit prescribed in the C.B.D.T. Circular No.21 of 2015 dated 10[th] December 2015, wherein the Officers of the Revenue have been directed to challenge the orders of the Tribunal only where the tax effect is not less than Rs.20 lakhs and to withdraw and/or not press pending appeals where the tax effect is less than Rs.20 lakhs. 3.In view of the above C.B.D.T. Circular No.21 of 2015 dated 10[th ]December 2015, Mr. Malhotra, learned counsel for Revenue, does not press the present Appeal. 4.Accordingly, the Appeal stands dismissed as not pressed. 5.Refund of Court fees as per rules. [DR. SHALINI PHANSALKAR-JOSHI, J.] [M.S. SANKLECHA, J.]