Excelsior Correspondent
JAMMU, Jan 5: Division Bench of J&K High Court comprising Chief Justice N Paul Vasanthakumar, and Justice Bansi Lal Bhat has dismissed as withdrawn an appeal filed against the order/judgment dated December 31, 2008 passed by the Income Tax Appellate Tribunal, Amritsar.
Through this judgment, the Tribunal had asked the M/s Vaid Mild Products Pvt. Ltd to pay tax liability of Rs 13, 65, 685 for the assessment year 2000-2001.
Advocate D S Chauhan appearing for M/s Vaid Mild Products Pvt Ltd submitted that the Union Ministry of Finance has issued a Circular No. 21/2015 dated December 10, 2015, which mandates that appeals with monetary limit of Rs 10, 00, 000 be filed before the Income Tax Appellate Tribunal; appeals with monetary limit of Rs 20, 00, 000 be filed before the High Court and appeals with monetary limit of Rs 25, 00, 000 be filed before the Supreme Court.
While dismissing the appeal, DB observed, “in so far as filing of appeals before the High Courts is concerned, monetary limits of above Rs 20, 00, 000 is fixed. In Paragraph No. 10 of the Circular, it is further stated that the instructions will apply retrospectively to pending appeals and appeals to be filed henceforth in High Courts/ Tribunals”.
“Pending appeals which were filed within the tax due as mentioned above may be withdrawn/not pressed and the appeals before the Supreme Court would be governed by the instructions operative at the time when such appeal was filed”, the DB said, adding “hence the appeal is treated as withdrawn/not pressed as the tax payable in this case as assessed is Rs 13, 65, 685, which is less than Rs 20, 00, 000”.
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