The Commissioner Of Income Tax-7,Mumbai v. M/S Psl Holdings Ltd.,

Uday S. Jagtap 1146-09-ITXA-901=.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 1146 OF 2009 The Commissioner of Income-Tax-VII Mumbai .. Appellant v/s.

M/s. PSL Holdings Ltd.

..Respondent Mr. Abhay Ahuja a/w Ms. Sangeeta Yadav for the appellant None for the respondent CORAM : AKIL KURESHI & M.S. SANKLECHA, J.J.

DATED : 21st NOVEMBER, 2018.

P.C.

1.

This appeal challenges the order dated 7th June, 2007 passed by the Income Tax Appellate Tribunal.

2.

Mr. Ahuja, learned Counsel appearing in support of the appeal invites our attention to the Circular No.3/2008 dated 11th July, 2018 issued by the Central Board of Direct Taxes which inter alia directs the Revenue not to press the pending appeals where the tax effect is less than Rs.50 lakhs.

3.

In view of the above Circular, Mr. Ahuja has been instructed not

Uday S. Jagtap 1146-09-ITXA-901=.doc to press the appeal as the tax effect involved in the present appeal is less than the threshold limits of Rs.50 lakhs. 4.

Accordingly, the appeal is dismissed as not pressed. 5.

Refund of Court Fees as per Rules.

(M.S. SANKLECHA, J.) (AKIL KURESHI, J.)