The Deputy Commisioner of Income Tax (Central) v. Shree Shyam Sponge and Power Pvt. Ltd.
Income-tax – Departmental appeal – Disposal as withdrawn on account of revised monetary limit
Case brief
What is this about?
High Court of Chhattisgarh at Bilaspur, TAXC No. 8 of 2022, decided 26.11.2024 (2024:CGHC:46201-DB): The department's income-tax Tax Case against Shree Shyam Sponge and Power Pvt. Ltd. was disposed of finally as withdrawn because the tax effect is below the revised Rs. 2 crore monetary limit for departmental appeals before the High Court under CBDT Circular dated 17.09.2024 (which revised the limits in Circular No. 5/2024 dated 15.03.2024 and was issued under section 268A of the Income-tax Act, 1961). Counsel: Mr. Amit Chaudhari for the applicant-department; none for the respondent. Bench: Sanjay K. Agrawal, J. (author) and Radhakishan Agrawal, J. Keywords: tax appeal withdrawal, monetary limit, tax effect, CBDT circular 17.09.2024, section 268A Income-tax Act.
What did the court decide?
The Tax Case appeal filed by the department stands disposed of finally as withdrawn, in view of the CBDT circular dated 17.09.2024, the tax effect in the case being below the Rs. 2 crore monetary limit for appeals before the High Court.