Pr.commissioner Of Income Tax-2 v. State Bank Of India

Digitallysigned byTRUSHATRUSHATUSHARTUSHARMOHITEMOHITEDate:2023.07.1110:25:42+0530 IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.352 OF 2018 Pr.Commissioner of Income Tax-2 ….. Appellant Vs. State Bank of India ….. Respondent Mr.Suresh Kumar for the appellant’s Mr.Nitesh Joshi i/b Mr.Atul K. Jasani for the respondent CORAM:K.R. SHRIRAM, J &FIRDOSH P. POONIWALLA, J. DATED :5TH JULY 2023 P.C. 1.On 15[th] December 2022, following order came to be passed: “1. Mr.Suresh Kumar, learned counsel for the appellant totake instructions regarding Circular No.17 of 2022, dated8[th] August 2019 issued by the Central Board of DirectTaxes in respect of low tax effect. 2. List for consideration on 18[th] January 2023.” 2.On 21[st] June 2023 matter was stood over to today. 3.Mr.Joshi has tendered a statement showing the details ofamount of tax in dispute. The same is taken on record and marked‘X’ for identification which shows that the total tax effect would beonly Rs.68,36,636/- which is less than Rs.1.0 crore. 4. Mr.Suresh Kumar also agrees that the figure of Rs.63.02crores mentioned in paragraph 11 of the Appeal appears to beincorrect. 5.Therefore, Mr.Suresh Kumar seeks leave to withdraw theAppeal. 6.Appeal is dismissed as withdrawn with liberty to approach thecourt to restore the Appeal provided, at the time of applying forrestoration, appellant is able to show by way of affidavit detailedcalculation explaining why the tax effect will be more than Rs.1.0crore. (FIRDOSH P.POONIWALLA, J.) (K.R. SHRIRAM, J.)