Itxa/95/2016 Of Principal Commissioner Of Income Tax,33, Mumbai v. M/S Bhoomi Construction

Uday S. Jagtap THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 95 OF 2016 The Pr. Commissioner of Income Tax-33Mumbai .. Appellant v/s. M/s. Bhoomi Construction ..Respondent Mr. Arvind Pinto a/w Mr. N.C. Ranganayakulu for the appellant Ms. Neha Achliya I/b Agrud Partners for the respondent CORAM : M.S. SANKLECHA & SANDEEP K. SHINDE, J.J. P.C. DATED : 14[th] AUGUST, 2018. 1.This Appeal relates to Assessment Year 2005-06. 2.Mr. Pinto, learned Counsel appearing for the Revenue invitedour attention to Circular No.3 of 2018 dated 11[th] July, 2018 issued bythe Central Board for Direct Tax (CBDT). The above Circular directsthe Officers of the Revenue not to file appeals to the High Court wherethe tax effect does not exceed Rs.50 lakhs. It also directs its Officers towithdraw / not press its pending appeals where the tax effect is lessthan Rs.50 lakhs. This, of course, if it does not fall in the excludedclass of appeals listed therein. 3.Our attention is invited to para 11 of the Appeal Memo, whichindicates that in this Appeal, the tax effect is Rs. 46.25 lakhs. Uday S. Jagtap 4.In view of the Circular No.3 of 2018 dated 11[th] July, 2018 issuedby the CBDT, Mr. Pinto, learned Counsel appearing for the Revenue, oninstructions from Mr. Rakesh Bhaskar, Pr. Commissioner of IncomeTax, does not press the present Appeal. 5.Accordingly, Appeal dismissed, as withdrawn. 6.Refund of Court Fees, if any, as per Rules. (SANDEEP K. SHINDE J.) (M.S. SANKLECHA, J.)