HC imposes cost of Rs.50000 on Department for filing belated Appeal with it despite tax effect of less than Rs. 1 Crore

PCIT Vs Indian Roadways Corp. Ltd. (Calcutta High Court) When the appeal was taken up learned Counsel for the appellant submitted the tax effect involved in the present appeal is below ₹ one crore. He prayed for withdrawal of the present appeal. Before accepting the prayer made by the appellant we are constrained to notice certain facts. A Circular No. 17/2019 F. No.279/Misc. 142/2007-ITJ (Pt.) was issued by Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, Judicial Section dated August 8, 2019. It prescribed minimum limit of ₹ one crore for fi...