Pr Commissioner Of Income Tax 19 Mumbai v. Laxmi Finance And Leasing Companies Commercial Premises Co Op Soc Ltd Ay 2006-07 Revenue

358-ITXA -257-2024 (OS).DOC Prasad Rajput

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 257 OF 2024 Pr. Commissioner of Income-Tax-19, Mumbai ...Appellant

Versus

Laxmi Finance & Leasing Companies Commercial Premises Co-op Soc. Ltd.

...Respondent

_________ Mr. Akhileshwar Sharma for appellant.

Mr. Atul K. Jasani for Respondent.

__________

CORAM:

G. S. KULKARNI & ADVAIT M. SETHNA, JJ.

DATE:

13 NOVEMBER, 2024.

P.C.

1.

Mr. Akhileshwar Sharma, learned counsel for the appellant/revenue drawing the Court's attention to paragraph no.13 of the memo of appeal, which refers to an amount of Rs. 1,41,40,361/- fairly states that this appeal would not require adjudication considering the tax effect as involved under the Circular dated dated 17 September, 2024 issued by the Central Board of Direct Taxes. He would accordingly submit that the revenue be permitted to withdraw this appeal. Assessment year is 2006-2007. 2.

Accordingly, allowed to be withdrawn for such reason. 3.

In the event, the tax effect as involved is not within the parameters of the Circular dated 17 September, 2024, liberty to revive this appeal. 4.

All questions of law are kept open.

5.

Income Tax Appeal is disposed of. No costs.

6.

Refund of Court Fees as per rules.

(ADVAIT M. SETHNA, J.) (G. S. KULKARNI, J.) 13 November 2024