CIT Vs Agastmuni Construction Pvt. Ltd. (Bombay High Court)
Bombay High Court dismissed income tax appeals filed by the Commissioner of Income Tax (CIT) against Agastmuni Construction Pvt. Ltd. The court noted that the tax effect in all appeals fell below the Rs. 1 crore threshold set by CBDT Circular No. 17 of 2019 dated August 8, 2019. Despite efforts, Revenue counsel received no instructions to withdraw. The court clarified that the Revenue could seek recall if any appeal was genuinely outside the circular’s scope.
FULL TEXT OF THE JUDGMENT/ORDER OF BOMBAY HIGH COURT
1. In the last week these appeals were adjourned at the instance of the learned Counsel for the Revenue to enable them to take instructions to withdraw these appeals in terms of Circular No.17 of 2019 dated 8th August, 2019 issued by the Central Board of Direct Taxes (CBDT).
2. Today, the learned Counsel appearing in support of these appeals state that inspite of their best efforts, no instructions are forthcoming from the Revenue. All of them state that the tax effect involved in all these appeals is less than the threshold limit of Rs.1.00 crore provided in CBDT circular dated 8th August, 2019.
3. In the above view, all these appeals are disposed of in terms of the above Circular. Refund of Court fees as per Rules.
