THE COMMISSIONER OF INCOME TAX-1 vs. YOUTH DEVELOPMENT CO-OP BANK

ITXA/859/2015HC BombayHCBM07011876201517 October 20262 pages

AI SummaryWithdrawn

What did the High Court hold?

The High Court disposed of Income Tax Appeal No. 353 of 2015 as not pressed, in view of CBDT Circular No. 09/2024, dated 17th September 2024, noting that the disputed claim/tax effect of Rs. 61,29,134/- was below the monetary limits prescribed by the circular. Liberty was granted to apply in case the appeal fell under the exceptions of the Tax Effect Circular. For Income Tax Appeal No. 859 of 2015, the Court allowed the appeal to be withdrawn and disposed of it accordingly, also citing CBDT Circular No. 09/2024. The reasoning for both decisions was based on the monetary limits set by the CBDT circular, which dictates the threshold for filing appeals by the Revenue. The principle is that appeals below a certain tax effect are generally not to be pursued unless specific exceptions apply. Refund of court fees was allowed as per rules for the withdrawn appeal.

What were the facts?

The appeals were filed by the Commissioner of Income Tax-I, Kolhapur (Revenue) against The Gadhinglaj Urban Co-op. Bank Ltd. and Youth Development Co-op Bank (Assessees) for assessment years not specified. In Income Tax Appeal No. 353 of 2015, the Revenue's counsel stated she did not have a copy of the appeal papers. The appeal memo indicated a disputed claim/tax effect of Rs. 61,29,134/-, which was below the monetary limits prescribed by CBDT Circular No. 09/2024. In Income Tax Appeal No. 859 of 2015, the Revenue's counsel sought to withdraw the appeal, also citing CBDT Circular No. 09/2024.

What were the issues?

1. Whether Income Tax Appeal No. 353 of 2015 is maintainable given the disputed tax effect is below the monetary limits specified in CBDT Circular No. 09/2024? 2. Whether Income Tax Appeal No. 859 of 2015 should be permitted to be withdrawn in light of CBDT Circular No. 09/2024? Assessee's Contention: Not recorded. Revenue's Contention: In both appeals, the Revenue relied on CBDT Circular No. 09/2024, dated 17th September 2024, to argue that the appeals were not maintainable or should be withdrawn due to the tax effect being below the prescribed monetary limits. For Income Tax Appeal No. 353 of 2015, the Revenue's counsel also indicated a lack of appeal papers.

AI-generated summary — verify with the full judgment below

11-ITXA-353-2015 (C).doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIRCUIT BENCH AT KOLHAPUR CIVIL APPELLATE JURISDICTION INCOME TAX APPEAL(IT) NO. 353 OF 2015 The Commissioner Of Income Tax-i Kolhapur ...Appellant V/s. The Gadhinglaj Urban Co-op. Bank Ltd. ...Respondent WITH INCOME TAX APPEAL(IT) NO. 859 OF 2015 The Commissioner Of Income Tax-1 ` … Appellant V/s. Youth Development Co-op Bank ...Respondent … Ms. Smita Thakur, Advocate for the Appellant. … CORAM : ABHAY AHUJA & NEERAJ P. DHOTE, JJ. DATE : 17th October, 2026 P.C. : Income Tax Appeal(IT) No. 353 Of 2015 1. When the matter is called out, Ms. Thakur appears for the Appellant and submits that, she does not have a copy of the Appeal papers. 2. A perusal of the Appeal Memo (paragraph 10) indicates that the disputed claim/tax effect is valued at Rs. 61,29,134/- which is way below the monetary limits described in CBDT Circular No. 09/2024, dated 17th September 2024. Mandar M. 1/2

11-ITXA-353-2015 (C).doc 3. Accordingly, this Appeal is disposed as not pressed in view of CBDT Circular No. 09/2024, dated 17th September 2024. 4. Liberty to apply in case,the Appeal falls under the exceptions of the Tax Effect Circular. Income Tax Appeal (IT) No. 859 Of 2015 5. Ms. Thakur, learned Counsel appearing for the Appellant, seeks to withdraw the appeal in view of CBDT Circular No. 09/2024, dated 17th September 2024. 6. The Appeal is accordingly allowed to be withdrawn and stands disposed of as such. 7. Refund of Court fees, if any, is allowed as per the rules. (NEERAJ P. DHOTE, J.) (ABHAY AHUJA, J.) Mandar M. 2/2

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