Appeal dismissed against Commissioner of Income Tax versus Prbatam Investment Pvt. Ltd. Held tax effect below 2 Crores attracted immunity under Circular 9/2024, thus not maintainable.
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$~77
COMMISSIONER OF INCOME TAX .....Appellant Through: Mr. Debesh Panda, SSC with Ms. Zehra Khan, Mr. Vikram Aditya, Advs.
versus
PRABHATAM INVESTMENT PVT.LTD. .....Respondent Through: Mr. Gautam Jain, Mr. Manish Yadav, Advs.
CORAM:
HON'BLE MR. JUSTICE YASHWANT VARMA HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR
O R D E R
% 03.02.2025
Undisputedly, the tax effect which forms the subject matter of this appeal falls below INR 2 Crores and would thus not be liable to be continued in light of the provisions made in Circular No. 9/2024 dated 17 September 2024.
The appeal is, consequently, dismissed on the ground of low tax effect. The proposed questions of law are kept open to be urged and addressed in an appropriate case.
YASHWANT VARMA, J.
HARISH VAIDYANATHAN SHANKAR, J.
FEBRUARY 3, 2025/ neha
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1 provisions across 1 enactments
COMMISSIONER OF INCOME TAX
PRABHATAM INVESTMENT PVT.LTD.
YASHWANT VARMA
HARISH VAIDYANATHAN SHANKAR
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
