The Commissione of Income v. M/S Sterlite Industries India
Case brief
What is this about?
Search terms: TCA / Tax Case Appeal; Section 260-A of the Income Tax Act, 1961; CBDT Circular No.17/2019 dated 08.08.2019; CBDT Circular No.9/2024 dated 15.03.2024; monetary limit / tax effect raised from Rs.1 crore to Rs.2 crores; revenue stake Rs.74,77,656/-; Income Tax Appellate Tribunal Madras “D” Bench I.T.A.No.917/Mds/2011; Commissioner of Income Tax Chennai v. M/s Sterlite Industries (India) Ltd.; disposal of departmental appeal in terms of circular; substantial question of law left open; no costs. Relevant when researching disposal (non-maintainability) of tax appeals whose tax effect falls below the CBDT monetary-limit circulars.
What did the court decide?
Tax Case Appeal disposed of in terms of CBDT Circular No.9/2024 (tax effect below the revised monetary limit); substantial question of law left open to be decided in an appropriate case, without prejudice to the rights of the Department; no costs awarded.