PR.COMMISSIONER OF INCOME TAX-5 vs. JAMES CAPITAL & FINANCE PVT. LTD.

PDF · subscribers
ITA/901/2016HC DelhiDLHC01281779201631 January 2025Bench: HON'BLE MR. JUSTICE YASHWANT VARMA,HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR1 pages
AI SummaryDismissed

What did the High Court hold?

The High Court held that the tax effect forming the subject matter of the 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 explicitly kept open to be urged and addressed in an appropriate future case. No specific findings were made on the merits of the substantive issues of the appeal.

What were the facts?

This appeal was filed by the Pr. Commissioner of Income Tax-5 (Revenue) against James Capital & Finance Pvt. Ltd. (Assessee). The assessment year(s) are not specified in the provided text. The appeal challenges an order or action, the nature of which is not detailed, but it concerns a tax effect that falls below INR 2 Crores. The procedural history leading to this appeal is not elaborated upon, other than the fact that the Revenue has filed this appeal 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? The Revenue contended that the tax effect in this appeal falls below INR 2 Crores and therefore, in light of Circular No. 9/2024, the appeal is not liable to be continued. The Assessee's contentions are not recorded in the judgment.

AI-generated summary — verify with the full judgment below

$~58 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 901/2016

PR.COMMISSIONER OF INCOME TAX-5 .....Appellant Through: Mr. Gaurav Gupta, SSC with Mr. Shivendra Singh, Mr. Yojit Pareek, JSCs.

versus

JAMES CAPITAL & FINANCE PVT. LTD. .....Respondent Through: Mr. Somil Agarwal and Mr. Dushayant Agarwal, Advs. CORAM:

HON'BLE MR. JUSTICE YASHWANT VARMA

HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR

O R D E R %

31.01.2025 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 31, 2025/DR

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 04/02/2025 at 12:07:51

Recent GST High Court judgments

Search GST case law →