2018 (11) TMI 1638 - HC - Income Tax

Low tax effect - monetary limit - HELD THAT - As submitted a note together with a communication dated 29.10.2018 of the Joint Commissioner of Income Tax (Judicial), for Principal Chief Commissioner of Income Tax, Gujarat, Ahmedabad, instructing her to withdraw the appeal as the tax effect is below the monetary limit of ₹ 50,00,000/- and the case does not fall in the exceptional clauses as per the CBDT Circular No.3/2018 dated 11.07.2018, reserving a right to revive the appeal in case any discrepancy comes to notice at a later stage after withdrawal of the appeal as human error cannot be ruled out.

Summary

The Gujarat High Court dismissed the appeal as the tax effect was below Rs. 50,00,000 and did not qualify under exceptional clauses per CBDT Circular No.3/2018. The appellant was allowed to withdraw the appeal with the right to revive it later if needed. Ms. Harsha Devani delivered the oral order.