Commissioner Of Income Tax v. New Era Talkies

975.ITR-50.02.doc Sbw

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX REFERENCE NO.50 OF 2002 Commissioner of Income Tax ..Applicant

Versus

M/s.New Era Talkies ..Respondent ...........

Mr. P. C. Chhotaray for the Applicant.

...........

CORAM: M. S. SANKLECHA & A. K. MENON, JJ.

DATE : 19th AUGUST, 2016 P.C.:

This Reference relates to A.Y. 1993-94.

2.

Mr. Chhotaray, the learned counsel appearing for the Revenue tenders an affidavit of Ms. Radkhika Nair, Income Tax Officer, dated 11th August, 2016 wherein she states that the tax effect involved in the present Reference is Rs.23,000/-. In view of the above, Mr. Chhotaray states that the tax effect being less than the threshold limit of 20 lakhs as provided in the CBDT Circular No.21 of 2015 dated 10th December, 2015 and as clarified by Instruction dated 8th March, 2016 the above Circular is applicable even to Reference, he does not press the questions raised herein.

975.ITR-50.02.doc 3.

In the above view, the Reference is returned unanswered. However, it is made clear that the questions raised herein are left open for consideration in an appropriate case, if not already decided. 4.

Reference is disposed of in above terms.

(A. K. MENON, J.) (M. S. SANKLECHA, J.) wadhwa