2018 (12) TMI 1796 - HC - Income Tax

Monetary limit - Low tax effect - Addition made u/s.145A - assessee has not given any details of challan of various Excise duty paid on raw-materials - HELD THAT - Revenue, states that he has been instructed not to press this appeal. This for the reason that the tax effect in this appeal is less than ₹ 50 lakhs as provided in CBDT Circular No.3 of 2018 dated 11th July, 2018. Therefore, this Appeal is dismissed, as not pressed.

Summary

The Bombay High Court dismissed an appeal under Section 260A of the Income Tax Act as the tax effect was less than Rs. 50 lakhs, following CBDT Circular No.3 of 2018. The appeal was not pressed by the Revenue, and any court fees will be refunded as per rules.