2019 (11) TMI 1310 - SCH - Income Tax

Determination of the tax to be paid in terms of the Kar Vivad Samadhan Scheme 1998 (KVSS) - calculation of the disputed income with reference to the unpaid tax - HELD THAT - Since the tax effect in the present matter is 1.03 crores, which is less than the limit prescribed in the latest CBDT Circular dated 8.8.2019, we see no reason to interfere in the matter. The special leave petition is dismissed leaving all questions of law open. Pending applications, if any, also stand disposed of.

Summary

The Supreme Court dismissed the special leave petition as the tax effect was less than the limit set by the CBDT Circular dated 8.8.2019. All questions of law remain open. Pending applications, if any, are disposed of.