2018 (7) TMI 2291 - HC - Income Tax

Maintainability of appeal before High Court on low tax effect - Whether case falls within purview of circular of Central Board of Direct Taxes No. 3 of 2018 dated 11.7.2018? - HELD THAT - As the tax effect involved in the present Tax Appeal is less than Rs.50 lacs, considering the recent Circular issued by the CBDT dated 11/07/2018, being Circular No.3/2018, Mrs Kalpana Raval, learned Advocate appearing on behalf of the revenue does not press the present Tax Appeal. Under the circumstances, on the aforesaid ground alone, present Tax Appeal is dismissed as not pressed.

Summary

The Gujarat High Court dismissed the Tax Appeal as the tax effect was less than Rs.50 lakhs, following a Circular issued by the CBDT. Mrs. Kalpana Raval did not press the appeal on behalf of the revenue.