ITA-105-2014 (O&M) v. THE YAMUNA NAGAR, CENTRAL COOPERATIVE BANK LTD., SAROJINI
Case at a glance
- Decided
- 12 Nov 2024
- Bench
- SANJEEV PRAKASH SHARMA, SANJAY VASHISTH
Provisions considered
Key paragraphs
- Para 55. All pending applications also stand disposed of accordingly. (SANJEEV PRAKASH SHARMA) JUDGE (SANJAY VASHISTH) JUDGE November 12, 2024 J.Ram
Judgment
CORAM: HON’BLE MR. JUSTICE SANJEEV PRAKASH SHARMA HON’BLE MR. JUSTICE SANJAY VASHISTH Present: Mr. Saurabh Kapoor, Sr. Standing Counsel for the appellant(s) – revenue. **** Mr. S.K. Mukhi, Advocate for the respondent(s) – assessee. **** SANJEEV PRAKASH SHARMA, J.(Oral)
Counsel for the appellant submits that in terms of the Circular bearing No.9/2024 dated 17.09.2024 issued by the Central Board of Direct Taxes, the monetary limits for filing of the appeals by the department before the ITAT, High Court and SLP/Appeals before the Supreme Court have been enhanced and the Circular No.5/2024 has been amended and following steps have been taken with the purpose to manage litigations: “ 2. As a step towards management of litigation, it has been decided by the Board to revise the monetary limits for filing of appeals in Income-tax cases as stated in Para 4.1 of the aforementioned Circular as follows: Sl. No. Appeals/SLPs in Income-tax matters Monetary Limit
1. 2. 3. Before Income Tax Appellate Tribunal Before High Court Before Supreme Court (Tax effect in Rs.) 60 lakh 2 crore 5 crore JAWALA RAM 2024.11.19 12:55 I attest to the accuracy and authenticity of this document ITA-105-2014 (O&M) - 2 -
3. Monetary limits given in paragraph 2 above with regard to filing appeal/SLP shall be applicable to all cases including those relating to TDS/TCS under the Income-tax Act, 1961 with exceptions as per paras 3.1 and 3.2 of Circular No 5/2024 dated 15.03.2024, where the decision to appeal/file SLP shall be taken on merits, without regard to the tax effect and the monetary limits.”
The modifications have come into effect from the date of issuance of Circular i.e. 17.09.2024, and therefore shall apply to SLPs/appeals to be filed before the Supreme Court, High Court and Tribunal and also apply to the appeals pending before the Supreme Court, High Court and Tribunal, which have been directed to be withdrawn.
In view of aforesaid Circular No.09/2024 dated 17.09.2024, as the case does not fall within the exception clause of Circular No.5/2024, learned counsel prays for withdrawal of the present appeal.
Accordingly, we allow the prayer as above, and the appeal is dismissed as withdrawn.
All pending applications also stand disposed of accordingly. (SANJEEV PRAKASH SHARMA) JUDGE (SANJAY VASHISTH) JUDGE November 12, 2024 J.Ram
1. Whether speaking/reasoned? 2. Whether reportable? Yes/No Yes/No JAWALA RAM 2024.11.19 12:55 I attest to the accuracy and authenticity of this document
Questions this judgment answers
Which statutory provisions did this judgment involve?
Income Tax Act, 1961.
Which court decided this case, and when?
Punjab & Haryana High Court, on 12 Nov 2024. The bench was SANJEEV PRAKASH SHARMA, SANJAY VASHISTH.
Precedent status how later indexed judgments have treated this case
No known negative treatment found in the Courts & Cases corpus.
This is a result about the indexed corpus, not a finding that the judgment remains good law. Coverage may be incomplete.