2019 (1) TMI 1676 - SCH - Income Tax

MAT applicability - Grant of benefit to the assessee u/s 115JB - assessee is the Bihar State Finance Corporation created by Central Finance Corporation Act, and therefore, it is held to be a corporation created under the statute and not a company registered under the Companies Act, 1956 - HELD THAT - Since the tax effect in the present case is less than ₹ 1 crore, we see no reason to entertain the special leave petition. The special leave petition is, accordingly, dismissed.

Summary

The Supreme Court of India in 2019 dismissed a special leave petition due to tax effect being less than Rs. 1 crore. The delay was condoned and pending applications were disposed of.