THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. THE CO-OPERATIVE BANK OF RAJKOT LTD.,

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TAXAP/534/2015HC GujaratGJHC24047879201527 January 2020Bench: HONOURABLE MR. JUSTICE J.B.PARDIWALA,HONOURABLE MR. JUSTICE BHARGAV D. KARIA2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court held that the tax appeal was not pressed by the Revenue due to the low tax effect, in accordance with Circular No. 17/2019, dated 8th August, 2019. The circular specifies monetary limits for appeals before various authorities, including the High Court at Rs. 1,00,00,000. The Court disposed of the appeal accordingly. The Court reserved liberty for the Revenue to revive the tax appeal in case of any difficulty. No specific finding on the merits of the original dispute was made.

What were the facts?

The appeals were filed by the Principal Commissioner of Income Tax against The Co-operative Bank of Rajkot Ltd. The appeals were notified for passing an appropriate order due to low tax effect. The appeals were to be disposed of in light of Circular No. 17/2019, dated 8th August, 2019, issued by the Central Board Direct Taxes. This circular outlines monetary limits for filing appeals. The appeals were not pressed by the Revenue in view of the low tax effect as per the circular.

What were the issues?

1. Whether the appeal should be dismissed due to low tax effect as per Circular No. 17/2019? (Question of law) The Revenue argued that the appeal was not pressed in view of the low tax effect, referencing Circular No. 17/2019. The judgment does not record any specific arguments from the Assessee.

AI-generated summary — verify with the full judgment below

C/TAXAP/534/2015 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL NO. 534 of 2015 With R/TAX APPEAL NO. 612 of 2016 With R/TAX APPEAL NO. 613 of 2016 With R/TAX APPEAL NO. 614 of 2016 With R/TAX APPEAL NO. 615 of 2016 With R/TAX APPEAL NO. 616 of 2016 ========================================================== THE PRINCIPAL COMMISSIONER OF INCOME TAX Versus THE CO-OPERATIVE BANK OF RAJKOT LTD., ========================================================== Appearance: MRS MAUNA M BHATT(174) for the Appellant(s) No. 1 MR TUSHAR P HEMANI(2790) for the Opponent(s) No. 1 MS VAIBHAVI K PARIKH(3238) for the Opponent(s) No. 1 ========================================================== CORAM: HONOURABLE MR.JUSTICE J.B.PARDIWALA and HONOURABLE MR. JUSTICE BHARGAV D. KARIA

Date : 27/01/2020

ORAL ORDER

(PER : HONOURABLE MR.JUSTICE J.B.PARDIWALA) 1. The Registry has notified the appeal for the purpose of passing an appropriate order. The captioned appeal has been notified because of the low tax effect. The appeal is to be disposed of keeping in mind the Circular No.17/2019, dated 8th August, 2019 issued by the Government of India, Ministry of Finance, Department of Revenue, Central Board Direct Taxes, New Delhi. Page 1 of 2

C/TAXAP/534/2015 ORDER 2. This tax appeal is not pressed in view of the low tax effect having regard to the Circular No.17/2019, dated 8th August, 2019 issued by the Government of India, Ministry of Finance, Department of Revenue, Central Board Direct Taxes, New Delhi. 3. According to the new policy as reflected from the Circular referred to above, the table for monetary limits is as follows: Sr.No. Appeals/SLPs in Income-tax matters Monetray

Limit (Rs.) 1 Before Appellate Tribunal 50,00,000 2 Before High Court 1,00,00,000 3 Before Supreme Court 2,00,00,000 4. In view of the aforesaid, the appeal is disposed of accordingly. In case of any difficulty, we reserve the liberty for the Revenue to revive the tax appeal. (J. B. PARDIWALA, J) (BHARGAV D. KARIA, J) PALAK Page 2 of 2

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