Bombay HC Disposes Income Tax Appeals Below Threshold

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 we...