2018 (9) TMI 1814 - SC - Income Tax

Monetary limit - maintainability of appeal - HELD THAT - In these appeals the tax effect is less than 1, 00, 00, 000/- (Rupees One Crore) and are covered by the Circular of CBDT. These appeals are accordingly dismissed.

Summary

Issues: Tax effect less than Rs. 1,00,00,000, Circular of CBDT applicability

The Supreme Court, comprising Justices Rohinton Fali Nariman and Indu Malhotra, condoned any delay and granted leave in the appeals. The main issue revolved around the tax effect being less than Rs. 1,00,00,000 and whether the Circular of CBDT applied to the cases. The Court noted that the tax effect in these appeals fell below the specified amount and were covered by the CBDT Circular. Consequently, the Court dismissed the appeals in light of the aforementioned factors.