Pr Commissioner of Income Tax 4 New Delhi v. M/S Majestic Properties Pvt. Ltd.
Case brief
What is this about?
Delhi High Court, ITA 428/2025 & CM APPL. 58666/2025, decided 27.07.2026. PR COMMISSIONER OF INCOME TAX 4 NEW DELHI (appellant; Shlok Chandra SSC, Naincy Jain JSC, Madhavi Shukla JSC, Udit Dad) versus M/S MAJESTIC PROPERTIES PVT. LTD. (respondent; Somil Agarwal, Dushyant Agrawal). Dismissal of income-tax appeal under CBDT circular No. 05/2024 dated 15.03.2024 monetary/threshold limit; Section 263 Income Tax Act 1961 revisional jurisdiction; consequential order creating Rs. 25 lakhs (Rs. 2500000) liability below prescribed limits; judgments cited by counsel: Principal Commissioner of Income Tax vs. Maharishi Ayurveda Products Pvt Ltd ITA 429/2025; Principal Commissioner of Income Tax, Delhi vs. Nivesh Group ITA 420/2024; Revenue conceded; appeal dismissed, pending application disposed.
What did the court decide?
The appeal is dismissed in terms of CBDT circular No. 05/2024, dated 15.03.2024, the Revenue (through its Senior Standing Counsel) not disputing the respondent's position that the Rs. 25 lakhs liability created by the consequential order to the Section 263 revisional order involves an amount lesser than the limits prescribed in that circular.