2018 (10) TMI 1689 - HC - Income Tax

Monetary limit - low tax effect - appeals below the minimum threshold limit provided by CBDT - maintainability of appeal - HELD THAT - Learned advocate Mrs. Bhatt, under instructions from the department, sought permission to withdraw these appeals since the tax effect involved in these appeals is below the minimum threshold limit provided by CBDT in its circular dated 11.07.2018 enabling the department to prefer and maintain appeals before the High Court. Permission is granted.

Summary

Issues:
Withdrawal of appeals due to tax effect falling below threshold limit set by CBDT.

Analysis:
The judgment delivered by MR. JUSTICE AKIL KURESHI pertains to the withdrawal of multiple tax appeals due to the tax effect involved falling below the threshold limit established by the Central Board of Direct Taxes (CBDT). The petitioner's advocate, Mrs. Bhatt, representing the department, requested permission to withdraw the appeals based on the CBDT circular dated 11.07.2018. The circular enables the department to withdraw appeals where the tax effect is below the specified limit. The court granted permission for the withdrawal of the appeals as sought by Mrs. Bhatt, and consequently, all the Tax Appeals mentioned in the case were disposed of in accordance with the circular's provisions. The judgment highlights the significance of adhering to the CBDT guidelines regarding the maintenance of appeals before the High Court based on the tax effect involved in each case. The decision ensures compliance with the prescribed threshold limit, emphasizing the importance of efficient utilization of judicial resources and adherence to regulatory directives in tax matters.