The Principal Commissioner Of Income Tax, Panaji v. M/S. Mohit Ispat Ltd.,(In Short Mil

IN THE HIGH COURT OF BOMBAY AT GOA TAX APPEAL NO. 13 OF 2016 THE PRINCIPAL COMMISSIONER OF INCOME TAX, PANAJI. VersusM/S. MOHIT ISPAT LTD.,(IN SHORT MIL) ... Appellant ... Respondent Ms. Asha A. Desai, Advocate for the appellant.Mr. Parag S. Rao, Advocate for the respondent. -Coram:F. M. REIS &NUTAN D. SARDESSAI, JJ.-Date:7th July, 2016 P.C.: During the course of hearing of the above appeal, Mr. P.Rao, learned Counsel appearing for the respondent has pointed outthat the appeal itself is not maintainable, as it does not meet therequisite tax effect due, to enable the appellant to file the presentappeal in terms of the Circular dated 10/07/2014. 2. Ms. Asha Desai, learned Counsel appearing for theappellant, however, submits that the appellant has filed an applicationbeing Misc. Application No.21/PAN/2015 before the Income TaxAppellate Tribunal, Panaji for recall/review of the impugned order. The learned Counsel further points out that based on the decision insuch review application, the appellant would be able to satisfy therequirement of such Circular. The learned Counsel further points out that such an application filed before the ITAT has not yet beendisposed of. 3. In the peculiar facts and circumstances of the case,considering that it is undisputed that the tax effect as it stands today,would not entitle the appellants to maintain the appeal in view of thesaid Circular, nevertheless, we find it appropriate to dispose of theabove appeal with liberty to the appellant to file a fresh appeal,challenging the impugned order dated 25/11/2014 of the ITAT aftera decision on the Misc. Application No.21/PAN/2015 filed by theappellant before the learned ITAT. The learned Tribunal is,accordingly, directed to dispose of such application as expeditiouslyas possible. 4. The appeal is, accordingly, disposed of with liberty asstated herein above. All contentions of the parties, on merits, are leftopen. NUTAN D. SARDESSAI, J. ssm. F. M. REIS, J.