COMMISSIONER OF INCOME TAX-III vs. M/S SHRIRAM PISTONS & RINGS LTD.

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ITA/296/2015HC DelhiDLHC01113052201523 January 2025Bench: HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR,HON'BLE MR. JUSTICE YASHWANT VARMA1 pages
AI SummaryDismissed

What did the High Court hold?

The High Court held that the tax effect in the present appeal falls below INR 2 Crores. Consequently, in light of the provisions of Circular No. 9/2024 dated 17 September 2024, the appeal is not liable to be continued. The Court dismissed the appeal on the ground of low tax effect. The proposed questions of law were expressly kept open to be urged and addressed in an appropriate case. No specific finding was made on the merits of the substantive tax dispute.

What were the facts?

This is an appeal filed by the Commissioner of Income Tax-III against an order of the Income Tax Appellate Tribunal (ITAT). The appeal concerns the assessment year(s) not specified in the provided text. The core of the matter is the tax effect involved in the appeal, which is stated to be below INR 2 Crores. The procedural history is limited to the filing of this appeal by the revenue before the High Court.

What were the issues?

1. Whether the appeal is maintainable in light of the tax effect being below INR 2 Crores, as per Circular No. 9/2024 dated 17 September 2024? (Question of law) The Revenue's contention, as implied by the order, is that the appeal should be dismissed due to the low tax effect, aligning with the CBDT's circular. The judgment does not record any specific arguments from the Respondent (M/s Shriram Pistons & Rings Ltd.).

AI-generated summary — verify with the full judgment below

$~83 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 296/2015

COMMISSIONER OF INCOME TAX-III .....Appellant Through: Mr. Shlok Chandra, SSC, Ms. Naincy Jain & Ms. Madhavi Shukla, JSCs

versus

M/S SHRIRAM PISTONS & RINGS LTD. .....Respondent

Through: Appearance not given.

CORAM:

HON'BLE MR. JUSTICE YASHWANT VARMA

HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR

O R D E R %

23.01.2025 1. Undisputedly, the tax effect which forms the subject matter of this appeal falls below INR 2 Crores and would thus not be liable to be continued in light of the provisions made in Circular No. 9/2024 dated 17 September 2024. 2. The appeal is, consequently, dismissed on the ground of low tax effect. The proposed questions of law are kept open to be urged and addressed in an appropriate case.

YASHWANT VARMA, J.

HARISH VAIDYANATHAN SHANKAR, J. JANUARY 23, 2025/v

This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 27/01/2025 at 12:02:57

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