The Commissioner Of Income Txa -7 Mumbai v. Vigneshwara Exports Ltd.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.2464 OF 2010 WITH INCOME TAX APPEAL NO.2560 OF 2010 The Commissioner of Income-Tax-7 .. Appellant v/s.
Vigneshwara Exports Ltd.
..Respondent Mr. Suresh Kumar for the appellant None for the respondent CORAM : M.S. SANKLECHA & A.K. MENON, J.J.
DATED : 28th APRIL, 2016.
P.C.
1.
The impugned order of the Tribunal disposed of the appeals relating to Assessment Years 2002-03, 2003-04 and 2004-05. 2.
Mr. Suresh Kumar, learned Counsel for the Revenue, on instructions, states that the Revenue's appeal from the impugned order of the Tribunal in relation to Assessment Years 2002-03 has been decided by this Court adverse to the Revenue. Thus, only two appeals relating to Assessment Years 2003-04 and 2004-05 are pending in this Court.
2.
Mr. Suresh Kumar, learned Counsel appearing for the Revenue invited our attention to Circular No.21 of 2015 issued by the Central Board for Direct Tax dated 10th December, 2015. In particular, our attention invited to paragraphs 3, 5 and 10 therein which read as under:-
"3:- Henceforth, appeals/SLPs shall not be filed in cases where the tax effect does not exceed the monetary limits given hereunder:- Sr.
No.
Appeals in Income Tax matters Monetary Limit (in Rs.) Before Appellate Tribunal 10,00,000/- Before High Court 20,00,000/- Before Supreme Court 25,00,000/- It is clarified that an appeal should not be filed merely because the tax effect in a case exceeds the monetary limits prescribed above. Filing of appeal in such cases is to be decided on merits of the case."
"5.
............. However, in case of a composite order of any High Court or appellate authority, which involves more than one assessment year and common issues in more than one assessment year, appeal shall be filed in respect of all such assessment years even if the 'tax effect' is less than the prescribed monetary limits in any of the year(s), if it is decided to file appeal in respect of the year(s) in which 'tax effect' exceeds the monetary limit prescribed. In case where a composite order / judgment involves more than one assessee, each assessee shall be dealt with separately." "10:- This instruction will apply retrospectively to pending appeals and appeals to be filed henceforth in High Courts/ Tribunals. Pending appeals below the specified tax limits in para 3 above may be withdrawn/not pressed. Appeals before the Supreme Court will be governed by the instructions on this subject, operative at the time when such appeal was filed."
3.
In the present cases, the tax effect as mentioned in paragraph 11 of the each of the two Appeal Memos is as under :-
Appeal No.
Assessment Year Amount (Tax effect) 2003-04 14.74 lakhs 2004-05 14.74 lakhs 4.
As none of the two appeals have a tax effect of Rs.20,00,000/- or more, Mr. Suresh Kumar, learned Counsel appearing for the Revenue does not press these appeals.
5.
Accordingly, the two Appeals are dismissed as not pressed. 6.
Refund of Court Fees, as per Rules.
(A.K. MENON, J.) (M.S. SANKLECHA, J.)