2018 (9) TMI 428 - SCH - Income Tax

Maintainability of appeal - monetary limit - Penalty under Section 271C - non deduction of tds - assessee in default - Held that - Since the tax effect/liability is less than the prescribed limit as mentioned in Circular No. 3/2018 dated 11th July, 2018 issued by Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, New Delhi, we see no reason to interfere with the impugned orders. The special leave petitions are, accordingly, dismissed.

Summary

The Supreme Court of India in 2018 dismissed special leave petitions as tax liability was below prescribed limit in Circular No. 3/2018 issued by Ministry of Finance. Delay was condoned and pending applications were disposed of.