THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. V.C. GRANITES

PDF · subscribers
ITA/74/2024HC RajasthanRJHC02032524202417 December 2024Bench: INDERJEET SINGH,VINOD KUMAR BHARWANI1 pages
AI SummaryWithdrawn

What did the High Court hold?

The Tribunal noted that the tax effect in the appeal was below Rupees Two Crores. In view of the circular of the Central Board of Direct Taxes dated 17.09.2024, the learned counsel for the appellant sought permission to withdraw the appeal. Consequently, the appeal was dismissed as withdrawn. The formulated substantial question of law was kept open. The Department was granted liberty to move an application for revival if the matter was not covered under the circular.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax, Rajasthan against V.C. Granites for an assessment year not specified in the judgment. The appeal was before the High Court of Judicature for Rajasthan, Bench at Jaipur. The tax effect in the appeal was stated to be below Rupees Two Crores.

What were the issues?

1. Whether the appeal is maintainable given the tax effect is below Rupees Two Crores, in light of the CBDT circular dated 17.09.2024? (Question of law) Assessee's Contention: The learned counsel for the appellant (Revenue) sought permission to withdraw the appeal in view of the CBDT circular dated 17.09.2024, as the tax effect was below Rupees Two Crores. Revenue's Contention: Not recorded, as the Revenue sought withdrawal.

AI-generated summary — verify with the full judgment below

[2024:RJ-JP:51928-DB] HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH AT JAIPUR D.B. Income Tax Appeal No. 74/2024 The Principal Commissioner Of Income Tax, (Central) Rajasthan, 4Th Floor, LIC Building, Bhawani Singh Road, Ambedkar Cricle, Jaipur ----Appellant Versus V.C. Granites, Naya Ghar, Gulab Bari, Ajmer (Pan/GIR No. AAIFV3552C) ----Respondent For Appellant(s) : Mr. Siddharth Bapna with Mr. Meyhul Mittal For Respondent(s) : Ms. Apeksha Bapna for Mr. Siddharth Ranka HON'BLE MR. JUSTICE INDERJEET SINGH HON'BLE MR. JUSTICE VINOD KUMAR BHARWANI Order 17/12/2024 1. Since, the tax effect in appeal is below Rupees Two Crores, in view of the circular of Central Board of Direct Taxes dated 17.09.2024, learned counsel for appellant seeks permission to withdraw the appeal. 2. The appeal is dismissed as withdrawn. 3. The formulated substantial question of law is kept open. 4. The Department shall be at liberty to move an application for revival in case the matter is not covered under the circular. (VINOD KUMAR BHARWANI),J (INDERJEET SINGH),J SAHIL SONI /194

Recent GST High Court judgments

Search GST case law →