2020 (12) TMI 1403 - SCH - Income Tax

Maintainability of appeal on low tax effect - Under invoicing of exports of iron ores - HC 2020 (1) TMI 1115 - GUJARAT HIGH COURT confirmed that Tribunal has taken into consideration the applicability of the report of the Justice M.B. Shah Commission so as to make addition of the alleged amount under-invoicing by the AO -HELD THAT - The special leave petition is dismissed on the ground of low tax effect. However, the question of law is left open.

Summary

The Supreme Court dismissed the special leave petition due to low tax effect, but left the question of law open. Petitioner represented by Mr. Jayant Sud, ASG Mr. K. Radhakrishnan, Sr. Adv. Ms. Gargi Khanna, Adv. Mrs. Anil Katiyar, AOR.