Disposed

The Pr. Commissioner of Income TAX-3 Ludhiana v. M/S Malwa Cotton Spinning Mills Ltd.

Punjab & Haryana HC15 Oct 2024ITA/7/2020

Case brief

AI extract

What is this about?

The High Court allowed the appellant's prayer for withdrawal of the appeal under Circular No.9/2024 dated 17.09.2024 which enhanced monetary limits for filing income-tax appeals. Consequently, the appeal was dismissed as withdrawn and pending applications were disposed of.

What did the court decide?

Prayer for withdrawal of appeal allowed; appeal dismissed as withdrawn; pending applications disposed of.

The Pr. Commissioner of Income TAX-3 Ludhiana Vs M/S… — Income Tax | Punjab & Haryana HC (2024)

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ITA-7-2020 (O&M)

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Page 1 of 3

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288-11

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IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH

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ITA-7-2020 (O&M)

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Date of Decision: 15.10.2024

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PR. COMMI S SIONER OF INCOME TAX-3, LUDHIANA

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. . . . Appellan t

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Vs.

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M/S MALW A COTTON SPINNING MILL S LIMITED, LUDHIANA

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. . . . Responden t

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****

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CORAM: HON’BLE MR. JUSTICE SANJEEV PRAKASH SHARMA HON’BLE MR. JUSTICE ALOK JAIN

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Present: M r. Ranvijay Singh, Sr. Standin g Counsel f or the appellant/Revenue.

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N one for the respondent.

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SANJEEV PRAKASH SHARMA, J.(Oral)

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Couns e l for the appellant submits that in terms of the Circular bearin g No.9/2 0 24 dated 17.09.2024 issued by the Government of India , Minist r y of Finance, Department of R e venue, Central Board of Direc t Taxes, the monetary limits for filing of the appeals by the departmen t before the ITAT, High Court and SL P s/Appeals before the Suprem e Court have been enhanced and the Circular No.5/2024 has bee n amend e d and following steps have b een taken with the purpose t o manag e litigations:

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PARUL 2024.10.18 12:57 I attest to the accuracy and authenticity of this document

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ITA-7-2020 (O&M)

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Page 2 of 3

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“ 2. As a step towards ma n agement of litigation, it h as been decided by the Board to r e vise the monetary limits fo r filing of appeals in Income-tax cases as stated in Para 4 .1 of the aforementioned Circular as follows:

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S l. No.	Appeals/SLPs in Income-t ax matters	Monetary Limit
		(Tax effect in Rs.)
1 .	Before Income Tax Appellate	60 lakh
	Tribunal
2 .	Before High Court	2 crore
3 .	Before Supreme Court	5 crore

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3. Monetary limits given in p aragraph 2 above with r egard to filing appeal/SLP shall b e applicable to all cases i n cluding those relating to TDS/T C S under the Income-tax A ct, 1961 with exceptions as pe r paras 3.1 and 3.2 of C ircular No 5/2024 dated 15.03.2 0 24, where the decision t o appeal/file SLP shall be taken o n merits, without regard t o the tax effect and the monetary l i mits.”

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The m o difications have come into eff e ct from the date of issuance o f Circul a r i.e. 17.09.2024, and therefor e shall apply to SLPs/appeals t o be file d before the Supreme Court, High Court and Tribunal and als o apply t o the appeals pending before t he Supreme Court, High Cour t and Tr i bunal, which have been directe d to be withdrawn.

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In vie w of aforesaid Circular No.09/20 2 4 dated 17.09.2024, as the cas e does n ot fall within the exception clause of Circular No.5/2024 , learne d counsel prays for withdrawal o f the appeal No.ITA-7-2020.

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