In The Commissioner Of Income-Tax v. M/S. Shrenik Builders Pvt.ltd, the High Court (2005) decided the matter.
Decision: As in the present case, the tax liability is less than Rs.2 lacs, we dismiss the above appeal.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
Income Tax Appeal NO. 855 of 2000
The Commissioner of Income-tax .... Appellant.
vs.
M/s. Shrenik Builders Pvt.Ltd. .. ... . ... Respondents
E. S. Chopra for appellantMs. Varsha Ajmera i/b.Ashwinkumar & Co., for Respondents.
CORAM:S. RADHAKRISHNAN ANDA. S. AGUIAR JJ.
Date: 7/6/2005
ORAL JUDGMENT (Per S.Radhakrishnan J.)
1.Heard learned counsel for the Appellant and theRespondents. Perused the assessment order.
2. The claim involved in the above appeal is less than of Rs.2 lacs. Wehave also perused the judgment of the Division Bench of this court inthe case of Commissioner of Income Tax vs. Camco Colour Co.,reported in (2002) 254 ITR 565 (Bom). In view of the policy
2
P
decision taken by Central Board of Direct Taxes (“CBDT” for short)vide Circular F. No. 279/126/98-ITJ dated 27/3/2000 wherein theRevenue has decided not to file any Appeal or Reference, if the taxliability is less than Rs.2 lacs.
3. As in the present case, the tax liability is less than Rs.2 lacs, we
dismiss the above appeal.
S. RADHAKRISHNAN J.
A. S. AGUIAR J.
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