2023 (10) TMI 1068 - SCH - Income Tax

Maintainability of appeal in Supreme court on low tax effect - HELD THAT - In view of the limited notice issued and as the amount of tax involved is low, we are not inclined to decide the present special leave petition. In terms of Circular no. 17/2019 dated 08.08.2019 issued by the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, the tax amount on which notice has been issued, is less than Rs.2 crores. Special leave petition is dismissed.

Summary

The Supreme Court dismissed the special leave petition due to the low amount of tax involved, which was less than Rs.2 crores as per Circular no. 17/2019. The question(s) of law remains open, and pending applications are disposed of.