What did the High Court hold?

The Tribunal allowed the Revenue's prayer to withdraw the appeal. The appeal was dismissed as withdrawn based on the revised monetary limits specified in the circular.

The Revenue sought to withdraw its appeal before the ITAT. This was based on a new circular issued by the Ministry of Finance enhancing the monetary limits for filing appeals.

What were the issues?

Whether the appeal filed by the Revenue should be withdrawn in light of the revised monetary limits for filing appeals as per the new circular.

CIT vs M/S Bain and Company | Punjab & Haryana High Court 2024

ITA-80-2024 (O 105

IN TH

COMMISSIO 2, NEW DEL M/S BAIN CO CORAM: H

H Present: M

SANJEEV P

Counse by the Revenu No.9/20 departm Court amende manage

O&M) Page 1 of 3 HE HIGH COURT OF PUNJA CHANDIGAR

ONER OF INCOME TAX (INTE LHI Vs.

OMPANY **** HON’BLE MR. JUSTICE SAN HON’BLE MR. JUSTICE SAN **** Mrs. Urvashi Dhugga, Sr. Standi for the appellant/Revenue. Mr. Prashant Meharchandani, Ad for the respondent. **** RAKASH SHARMA, J.(Oral) el for the appellant submits that Government of India, Minist ue, Central Board of Direct Ta 024, the monetary limits for ment before the ITAT, High Cou has been enhanced and the ed and following steps have b e litigations: AB AND HARYANA AT RH ITA-80-2024 (O&M) Date of Decision: 18.09.2024 ERNATIONAL TAXATION)- . . . . Appellant . . . . Respondent NJEEV PRAKASH SHARMA NJAY VASHISTH ing Counsel dvocate (through VC) ) t in terms of the Circular issued try of Finance, Department of axes dated 17.09.2024 bearing filing of the appeals by the urt and SLPs before the Supreme Circular No.5/2024 has been been taken with the purpose to

) 4 t t d f g e e n o MOHIT GOYAL 2024.09.20 10:33 I attest to the accuracy and integrity of this document

ITA-80-2024 (O h fo 4 S 1 2 3 r in A C to to 2. The mo Circula be filed apply t and Tri 3. In view does n learned 4. Accord as with

O&M) Page 2 of 3 “ 2. As a step towards man has been decided by the Board to re for filing of appeals in Income-tax 4.1 of the aforementioned Circular Sl. No. Appeals/SLPs in Income-t 1. Before Income

Tax Tribunal 2. Before High Court 3. Before Supreme Court

Monetary limits given in p regard to filing appeal/SLP shall be ncluding those relating to TDS/TC Act, 1961 with exceptions as per Circular No 5/2024 dated 15.03.20 o appeal/file SLP shall be taken on o the tax effect and the monetary li

odifications have come into effe ar i.e. 17.09.2024, and therefore d before the Supreme Court, Hi to the appeals pending before t ibunal, which have been directed w of aforesaid Circular No.09/202 not fall within the exception d counsel prays for withdrawal of dingly, we allow the prayer as ab drawn. nagement of litigation, it evise the monetary limits cases as stated in Para as follows: tax matters Monetary Limit (Tax effect in Rs.) Appellate 60 lakh 2 crore 5 crore paragraph 2 above with e applicable to all cases CS under the Income-tax r paras 3.1 and 3.2 of 024, where the decision n merits, without regard imits.” ect from the date of issuance of e shall apply to SLPs/appeals to gh Court and Tribunal and also the Supreme Court, High Court d to be withdrawn. 24 dated 17.09.2024, as the case clause of Circular No.5/2024, f the appeal No.ITA-80-2024. bove, and the appeal is dismissed

f o o t e , d MOHIT GOYAL 2024.09.20 10:33 I attest to the accuracy and integrity of this document

ITA-80-2024 (O 5. All pe accordi

September 18 Mohit goyal 1. Whethe 2. Whethe

O&M) Page 3 of 3 ending applications also sta ingly.

(SANJ , 2024 r speaking/reasoned?

Y r reportable?

Y and dismissed as withdrawn JEEV PRAKASH SHARMA) JUDGE

(SANJAY VASHISTH) JUDGE Yes/No Yes/No

n MOHIT GOYAL 2024.09.20 10:33 I attest to the accuracy and integrity of this document

COMMISSIONER OF INCOME TAX INTERNATIONAL TAXATION 2 NEW DELHI vs. M/S BAIN AND COMPANY

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