ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI vs. WILLIAMSON FINANCIAL SERVICES LIMITED, KOLKATA

At the time of hearing before the Tribunal, the ld. Counsel for the assessee has contended that the tax effect involved in this appeal of the Revenue is less than the monetary limit of Rs.50,00,000/- fixed by the C.B.D.T. for filing the appeal by the Revenue before the Tribunal and this Assessment Year: 2010-2011 Williamson Financial Services Limited, Guwahati position is not disputed even by the ld. D.R. In the Circular No. 17/2019 dated 8th August, 2019 issued by the C.B.D.T., the monetary limit for filing the appeal by Revenue before the Tribunal is revised to Rs.50,00,000/-. As further clarified in the said Circular, the monetary limit so revised is applicable even to the pending appeals and the same are directed to be withdrawn or not pressed. We accordingly treat this appeal as withdrawn/not pressed on account of low tax effect in view of the CBDT Circular No.17/2019 dated 8th August, 2019 and dismiss the same.

In the result, the appeal filed by the Revenue is dismissed. Order pronounced in the open Court on May 09, 2022.