COMMISSIONER OF INCOME TAX -I vs. AMIGO SECURITIES PVT LTD NOW KNOWN AS JEWEL CONSUMER

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TAXAP/659/2013HC GujaratGJHC24043457201329 January 2019Bench: HONOURABLE MS. JUSTICE HARSHA DEVANI,HONOURABLE DR. JUSTICE A. P. THAKER2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court held that the tax effect involved in the appeal was less than Rs. 50,00,000/-. In light of CBDT Circular No. 3/2018, which mandates that no appeal with a tax effect not exceeding Rs. 50,00,000/- shall be filed before the High Court and is retrospectively applicable, the learned senior standing counsel for the appellant did not press the appeal. The appeal was accordingly disposed of as not pressed. The Court also noted that if there was any error in the computation of the tax effect or if the circular was not applicable for any reason, the appellant could seek revival of the appeal. No specific finding was made on the merits of the original dispute.

What were the facts?

The appeal was filed by the Commissioner of Income Tax -I (appellant) against Amigo Securities Pvt Ltd (respondent) for an assessment year not specified. The appeal challenges an order or action from an unspecified authority. The tax effect involved in the appeal was admitted by both parties to be less than Rs. 50,00,000/-. The appeal was heard by the High Court of Gujarat at Ahmedabad.

What were the issues?

1. Whether the appeal is maintainable before the High Court given the tax effect involved, in light of CBDT Circular No. 3/2018. Assessee's Contention: The respondent (assessee) did not present any arguments as the appeal was not pressed by the appellant. The judgment does not record any arguments from the respondent. Revenue's Contention: The appellant (Revenue) did not press the appeal due to the tax effect being below the monetary limit stipulated in CBDT Circular No. 3/2018, which is applicable retrospectively to pending appeals.

AI-generated summary — verify with the full judgment below

C/TAXAP/659/2013 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL NO. 659 of 2013 ========================================================== COMMISSIONER OF INCOME TAX -I Versus AMIGO SECURITIES PVT LTD NOW KNOWN AS JEWEL CONSUMER ========================================================== Appearance: MR.VARUN K.PATEL(3802) for the APPELLANT MR B S SOPARKAR(6851) for the RESPONDENT(s) No. 1 NOTICE SERVED(4) for the RESPONDENT(s) No. 1 ========================================================== CORAM: HONOURABLE MS.JUSTICE HARSHA DEVANI and HONOURABLE DR.JUSTICE A. P. THAKER

Date : 29/01/2019

ORAL ORDER (PER : HONOURABLE MS.JUSTICE HARSHA DEVANI) 1. Heard Mr. Varun K. Patel, learned Senior Standing Counsel for the appellant and Mr. B. S. Soparkar, learned advocate for the respondent. 2. It is an admitted position between the parties that the tax effect involved in this appeal is less than Rs.50,00,000/-. Under the circumstances, in the light of the Circular No.3/2018 dated 11th July, 2018 issued by the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes which provides that no appeal wherein the tax effect does not exceed the monetary limit of Rs.50,00,000/- shall be filed before the High Court and has also been made retrospectively applicable to pending appeals, the learned senior standing counsel for the appellant does not press the present appeal. Page 1 of 2

C/TAXAP/659/2013 ORDER 3. The appeal is accordingly disposed of as not pressed in the light of the Circular dated 11th July, 2018. However, in case there is any error in the computation of the tax effect involved or if for any reason, the circular is not applicable, it would be open for the appellant to seek revival of the appeal. (HARSHA DEVANI, J) (A. P. THAKER, J) V.R. PANCHAL Page 2 of 2

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