CIT-I vs. M/S BHUSHAN POWER AND STEEL LTD.

IN THE HIGH COURT OF PUNJAB AND HARYANA

AT CHANDIGARH

**** 201

Date of Decision: 12.02.2026

COMMISSIONER OF INCOME TAX-I

...Appellant Versus

M/S BHUSHAN POWER AND STEEL LTD.

...Respondent

COMMISSIONER OF INCOME TAX

...Appellant Versus

M/S STEEL STRIPS WHEELS LTD

...Respondent

CORAM:- HON'BLE MR. JUSTICE JAGMOHAN BANSAL HON'BLE MR. YASHVIR SINGH RATHOR

Present:- Mr. Ranvijay Singh, Sr. Standing Counsel with

Ms. Nikita Garg, Jr. Standing Counsel

for the appellant

Mr. Akshay Bhan, Sr. Advocate with

Mr. Shantanu Bansal, Advocate

for the respondent-assessee

*** JAGMOHAN BANSAL, J. (ORAL) 1.

As common issues are involved in the captioned petitions, with the consent of both sides, the same are hereby disposed of by this common order. 2.

Learned Senior Counsel for the respondent-assessee submits that amount of tax involved in the instant appeals is less than monetary limit prescribed by Central Board of Direct Taxes vide Circulars dated 15.03.2024 and 06.08.2024. DEEPAK BISSYAN 2026.02.13 14:36 I attest to the accuracy and integrity of this document

ITA-252-2010 and ITA-358-2014

-2- 3.

Learned counsel for the appellant-Income Tax expressed his inability to controvert aforesaid statement, however, seeks permission to move an appropriate application, if anything contrary is found later on. 4.

Dismissed in terms of aforesaid circulars with aforesaid liberty. 5.

Pending application(s), if any, also stands disposed of.

(JAGMOHAN BANSAL)

JUDGE

(YASHVIR SINGH RATHOR)

JUDGE February 12, 2026 Deepak DPA

Whether Speaking/reasoned: Yes/No

Whether Reportable:

Yes/No DEEPAK BISSYAN 2026.02.13 14:36 I attest to the accuracy and integrity of this document

ITA-252-2010 and ITA-358-2014

-3-

DEEPAK BISSYAN 2026.02.13 14:36 I attest to the accuracy and integrity of this document