Monetary limits for income-tax appeals apply retrospectively to pending cases, leading to dismissal where tax effect is below threshold.

CBDT Circular No. 21 of 2015 prescribed monetary limits for filing income-tax appeals and stated that the instruction would apply retrospectively to pending appeals before High Courts and Tribunals. Where the tax effect was only Rs. 9.17 lakhs, below the prescribed High Court threshold, the Revenue did not press the appeal. The Bombay HC accordingly dismissed the appeal as not pressed and directed refund of court fees as per rules.

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Outcome: The appeal was dismissed as not pressed after the Revenue pointed out that the tax effect was below the monetary limit prescribed in Circular No. 21 of 2015.

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