Principal Commissioner Of Income Tax 6 Mumbai v. Schoolnet India Ltd Ay 2014-15

2024:BHC-OS:16122-DB 12.ITXA686_2024.DOC Vidya Amin

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 686 OF 2024 Pr. Commissioner of Income Tax-6, Mumbai ... Appellant

Versus

Schoolnet India Ltd.

...Respondent

Mr. Akhileshwar Sharma for the appellant.

Ms. Neha Sharma i/b. Sriram Sridharan for the respondent. _______________________

CORAM:

G. S. KULKARNI & FIRDOSH P. POONIWALLA, JJ.

Date :

9 October, 2024 _______________________ PC:

1.

Mr. Sharma, learned Counsel for the Appellant/Revenue fairly states that the Revenue would withdraw this Appeal in the light of the Circular dated 17 September, 2024 issued by the Central Board of Direct Taxes, considering that the tax effect involved in this Appeal for the Assessment Year 2014-15 is Rs.1,41,72,020/-.

2.

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. 3.

Accordingly, allowed to be withdrawn with liberty. 4.

All questions of law are kept open.

5.

Disposed of.

6.

Refund of Court Fees, as per Rules.

(FIRDOSH P. POONIWALLA, J.) (G. S. KULKARNI , J.) 9 October, 2024 Signed by: Vidya S. Amin Designation: PS To Honourable Judge Date: 14/10/2024 11:55:37