CIT, FARIDABAD V. KARAM VIR VASHISTH HUF

ITA/872/2008

AI Insights

The case involves the appellant, Karam Vir Vashisth HUF, against the respondent, CIT, Faridabad, concerning the filing of appeals in tax matters. The core issue revolved around the applicability of the revised monetary limits for filing appeals as stipulated in the Circular No. 9/2024 issued by the Government of India, Ministry of Finance, Department of Revenue. The circular amended the monetary limits for filing appeals before various judicial bodies, including the ITAT, High Court, and Supreme Court, with the intent to manage litigation more effectively. The appellant's counsel argued that the case did not fall within the exception clause of Circular No. 5/2024, which led to the prayer for withdrawal of the appeal.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 720176 (HC-MISC)
• Appeal Type: Others
• Pronouncement Date: 15-10-2024
• Assessment Year: misc
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Others
• Court: HIGH COURT
• Assessee Lawyers: VARUN ISSAR
• Keywords: Appeals; High Court; Income tax appellate tribunal; Litigation Management; Monetary limits; Supreme Court
• Section: 5/2024

Judgement Text

"ITA-872-2008 (O&M) 210 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CIT,FARIDABAD KARAM VIR VASHISTH HUF CORAM: HON’BLE MR. JUSTICE SANJEEV PRAKASH SHARMA HON’BLE MR. JUSTICE Present: Mr. Varun Issar for the SANJEEV PRAKASH SHARMA, J.(Oral) 1. Counsel for the appellant submits that in terms of the Circular issued by the Government of India, Ministry of Finance, Department of Revenue, Board of limits for filing of the appeals Court and SLP the Circular No.5/2024 has been amended and following steps have been taken with the purpose to manage litigations: been decided by the Board to revise the monetary limits for filing of appeals in Income aforementioned Circular as follows: Sl. No. 1. 2. 3. (O&M) Page 1 of 2 IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH CIT,FARIDABAD Vs. KARAM VIR VASHISTH HUF **** HON’BLE MR. JUSTICE SANJEEV PRAKASH SHARMA HON’BLE MR. JUSTICE ALOK JAIN **** Mr. Varun Issar, Sr. Standing Counsel for the appellant/Revenue. **** SANJEEV PRAKASH SHARMA, J.(Oral) Counsel for the appellant submits that in terms of the Circular issued by the Government of India, Ministry of Finance, Department of Revenue, Board of Direct Taxes bearing No.9/2024 limits for filing of the appeals by the department before the ITAT, High Court and SLP/appeals before the Supreme Court the Circular No.5/2024 has been amended and following steps have been taken with the purpose to manage litigations: “ 2. As a step towards manage been decided by the Board to revise the monetary limits for filing of appeals in Income-tax cases as stated in Para 4.1 of the aforementioned Circular as follows: Sl. No. Appeals/SLPs in Income-tax matters 1. Before Income Tax Appellate Tribunal 2. Before High Court 3. Before Supreme Court IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITA-872-2008 (O&M) Date of Decision: 15.10.2024 . . . . Appellant . . . . Respondent HON’BLE MR. JUSTICE SANJEEV PRAKASH SHARMA ALOK JAIN , Sr. Standing Counsel Counsel for the appellant submits that in terms of the Circular issued by the Government of India, Ministry of Finance, Department of Revenue, Central bearing No.9/2024 dated 17.09.2024, the monetary by the department before the ITAT, High before the Supreme Court have been enhanced and the Circular No.5/2024 has been amended and following steps have been taken with the purpose to manage litigations: . As a step towards management of litigation, it has been decided by the Board to revise the monetary limits for tax cases as stated in Para 4.1 of the tax matters Monetary Limit (Tax effect in Rs.) Before Income Tax Appellate Tribunal 60 lakh 2 crore 5 crore (O&M) .2024 Appellant Respondent Counsel for the appellant submits that in terms of the Circular issued by the Central dated 17.09.2024, the monetary by the department before the ITAT, High and the Circular No.5/2024 has been amended and following steps have been Manju 2024.10.18 10:15 I attest to the accuracy and integrity of this document ITA-872-2008 (O&M) regard to filing appeal/SLP shall be applicable to all cases including 1961 with exceptions as per paras 3.1 and 3.2 of Circular No 5/2024 dated 15.03.2024, where the decision to appeal/file SLP shall be taken on merits, without regard to the tax effect and the monetary limi 2. The modifications have come into effect from the date of issuance of Circular i.e. 17.09.2024, and therefore shall apply filed before the Supreme Court, High Court and Tribunal and also apply to the appeals pending before the Su which have been directed to be withdrawn. 3. In view of aforesaid Circula not fall within the exception clause of Circular No.5/2024 prays for withdrawal of 4. Accordingly, we allow the prayer withdrawn. 5. All pending applications also stand October 15, 2024 MANJU 1. Whether speaking/reasoned? 2. Whether reportable? (O&M) Page 2 of 2 3. Monetary limits given in paragraph 2 above with regard to filing appeal/SLP shall be applicable to all cases including those relating to TDS/TCS under the Income 1961 with exceptions as per paras 3.1 and 3.2 of Circular No 5/2024 dated 15.03.2024, where the decision to appeal/file SLP shall be taken on merits, without regard to the tax effect and the monetary limits.” The modifications have come into effect from the date of issuance of Circular i.e. 17.09.2024, and therefore shall apply before the Supreme Court, High Court and Tribunal and also apply to the appeals pending before the Supreme Court, High Court and Tribunal, which have been directed to be withdrawn. In view of aforesaid Circular No.09/2024 dated 17.09.2024, not fall within the exception clause of Circular No.5/2024 prays for withdrawal of the present appeal. Accordingly, we allow the prayer as above withdrawn. All pending applications also stand disposed of (SANJEEV PRAKASH SHARMA , 2024 1. Whether speaking/reasoned? Yes/No 2. Whether reportable? Yes/No 3. Monetary limits given in paragraph 2 above with regard to filing appeal/SLP shall be applicable to all cases those relating to TDS/TCS under the Income-tax Act, 1961 with exceptions as per paras 3.1 and 3.2 of Circular No 5/2024 dated 15.03.2024, where the decision to appeal/file SLP shall be taken on merits, without regard to the tax effect and the The modifications have come into effect from the date of issuance of Circular i.e. 17.09.2024, and therefore shall apply to SLPs/appeals to be before the Supreme Court, High Court and Tribunal and also apply to preme Court, High Court and Tribunal, which have been directed to be withdrawn. No.09/2024 dated 17.09.2024, as the case does not fall within the exception clause of Circular No.5/2024, learned counsel appeal. as above, and the appeal is dismissed as disposed of accordingly. SANJEEV PRAKASH SHARMA) JUDGE (ALOK JAIN) JUDGE Yes/No Yes/No The modifications have come into effect from the date of issuance of to SLPs/appeals to be before the Supreme Court, High Court and Tribunal and also apply to preme Court, High Court and Tribunal, as the case does , learned counsel dismissed as Manju 2024.10.18 10:15 I attest to the accuracy and integrity of this document "