Dismissed

Commissioner of Income Tax International Taxation 2 New Delhi v. M/S Bain and Company

Punjab & Haryana HC18 Sept 2024ITA/80/2024

Case brief

AI extract

What is this about?

The High Court dismissed the appeal of the Commissioner of Income Tax as withdrawn. The court held that the appeal did not fall within the exceptions of Circular No.5/2024 due to its monetary limits, and thus allowed the appellant's prayer for withdrawal under Circular No.9/2024 dated 17.09.2024.

What did the court decide?

The appeal was allowed to be withdrawn and dismissed as withdrawn along with pending applications.

Commissioner of Income Tax International Taxation 2 New… — Income Tax | Punjab & Haryana HC (2024)

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ITA-80-2024 (O&M)

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Page 1 of 3

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105

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IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH

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ITA-80-2024 (O&M) Date of Decision: 18.09.2024

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COMMISSI O NER OF INCOME TAX (INT E RNATIONAL TAXATION)2, NEW DE L HI

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. . . . Appellan t Vs.

M/S BAIN C O MPANY

. . . . Responden t

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CORAM: HON’BLE MR. JUSTICE SANJEEV PRAKASH SHARMA HON’BLE MR. JUSTICE SANJAY VASHISTH

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Present: M rs. Urvashi Dhugga, Sr. Stand i ng Counsel f or the appellant/Revenue.

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M r. Prashant Meharchandani, A d vocate (through VC) f or the respondent.

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SANJEEV PRAKASH SHARMA, J.(Oral)

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Couns e l for the appellant submits tha t in terms of the Circular issue d by the Government of India, Minis t ry of Finance, Department o f Reven u e, Central Board of Direct T a xes dated 17.09.2024 bearin g No.9/2 0 24, the monetary limits for filing of the appeals by th e depart m ent before the ITAT, High Co u rt and SLPs before the Suprem e Court has 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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MOHIT GOYAL 2024.09.20 10:33 I attest to the accuracy and integrity of this document

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ITA-80-2024 (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-80-2024.

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Accor d ingly, we allow the prayer as a b ove, and the appeal is dismisse d

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as withdrawn.

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MOHIT GOYAL 2024.09.20 10:33 I attest to the accuracy and integrity of this document

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ITA-80-2024 (O&M)

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Page 3 of 3

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All p e nding applications also st a nd dismissed as withdraw n

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accord i ngly.

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(SANJEEV PRAKASH SHARMA) JUDGE

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(SANJAY VASHISTH) JUDGE

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September 18, 2024

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Mohit goyal

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1. Whether speaking/reasoned? Yes/No

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2. Whether reportable? Yes/No

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MOHIT GOYAL 2024.09.20 10:33 I attest to the accuracy and integrity of this document

Commissioner of Income Tax International Taxation 2 New Delhi v. M/S Bain and Company

Case brief

What is this about?

What did the court decide?

Commissioner of Income Tax International Taxation 2 New Delhi v. M/S Bain and Company

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

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