INCOME TAX ACT, 1961

Section 260A

Appeal (High Court) - Substantial question of law - Tax effect less than prescribed limit for filing an appeal before High Court -

Revenue stated that the tax effect was less than the prescribed limit of Rs. 50 lakhs for filing an appeal before the High Court. Thus, it did not press this appeal and sought leave of the court to withdraw the present appeal in terms of a revised Circular No. 3 of 2018, dated 11-7-2018 [(2018) 405 ITR (St.) 29 : 2018 TaxPub(DT) 4170 (Del-HC)]. Held: The Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India, New Delhi, has recently issued a revised Circular No. 3 of 2018, dated 11-7-2018 [(2018) 405 ITR (St.) 29 : 2018 TaxPub(DT) 4170 (Del-HC)], revising the monetary limits for filing appeals by the Department before the Appellate Tribunal, High Courts and Supreme Court and the earlier monetary limits for the High Courts were upwardly revised from Rs. 20,00,000 to Rs. 50,00,000 with effect from 11-7-2018. Accordingly, in view of the aforesaid circular issued by the CBDT, the present appeal was dismissed as withdrawn/not pressed without answering the purported substantial questions of law.

REFERRED :

FAVOUR : In favour of assessee

A.Y. :

SUBSCRIBE FOR FULL CONTENT