D.C.I,T.CC - V I/ KOL., KOLKATA vs. M/S GAYSON & CO (P) LTD., KOLKATA

Per Shri S.S. Viswanethra Ravi, J.M. This appeal filed by the Revenue is directed against the order of ld. Commissioner of Income Tax (Appeals), Central-1, Kolkata dated 21.09.2012 for the assessment year 2009-10.

2 None appeared on behalf of the assssee at the time of hearing before us. We find from the record that the tax effect involved in this appeal of the Revenue is less than the revised monetary limit recently fixed by the CBDT vide Circular No. 21/2015 dated 10th December, 2015 ./2012 Assessment year: 2009-2010 Page 2 of 2 at Rs.10,00,000/- for filing the appeal by the Revenue before the Tribunal and this position clearly evident from the grounds raised by the Revenue in this appeal is not disputed even by the ld. D.R. In Circular No. 21/2015 (supra) recently issued by the CBDT, the monetary limit for filing the appeal by the Revenue before the Tribunal has been increased to Rs.10,00,000/- and as clarified in the said Circular, the said monetary limit is applicable retrospectively even to the appeals pending before the Tribunal. The CBDT has also instructed that such pending appeals below this specified tax limit of Rs.10,00,000/- may be withdrawn/ not pressed. Keeping in view the instruction given by the CBDT vide Circular No. 21/2015 dated 10.12.2015, which is squarely applicable in the present case, the appeal filed by the Revenue in this case is treated as withdrawn/not pressed and dismissed accordingly.