2019 (2) TMI 1147 - SCH - Income Tax

Maintainability of appeal - monetary limit - Reopening of assessment - proof of payment of recognized expenditure - eligibility of reasons to believe - assessment beyond period of four years from the end of relevant assessment year - HELD THAT - The tax effect being less than ₹ 1 crore, in view of Circular no. 3/2018 dated 11 July 2018, we find no reason to entertain the Special Leave Petition under Article 136 of the Constitution of India. The Special Leave Petition is dismissed.

Summary

The Supreme Court dismissed the Special Leave Petition due to tax effect being less than Rs. 1 crore, as per Circular no. 3/2018 dated 11 July 2018. Delay was condoned, and pending applications were disposed of.