Principal Commissioner Of Income Tax 1 ... vs Gilt Commodities Private Limited
2026 Latest Caselaw 2018 Cal/2

Calcutta High Court

Principal Commissioner Of Income Tax 1 ... vs Gilt Commodities Private Limited on 18 March, 2026

Author: Rajarshi Bharadwaj

Bench: Rajarshi Bharadwaj

                                             1



OD - 22
                            IN THE HIGH COURT AT CALCUTTA
                             Special Jurisdiction [Income Tax]

                                      ORIGINAL SIDE
                                         ITAT/246/2025
                                  IA NO: GA/1/2026, GA/2/2026
                       PRINCIPAL COMMISSIONER OF INCOME TAX 1 KOLKATA
                                               VS
                               GILT COMMODITIES PRIVATE LIMITED

BEFORE :
THE HON'BLE JUSTICE RAJARSHI BHARADWAJ
                     And
THE HON'BLE JUSTICE UDAY KUMAR
Date : 18th March, 2026
                                                                               Appearance :
                                                              Mr. Soumen Bhattacharjee, Adv.
                                                                      Mr.Raunak Seal, Adv.
                                                                            ...for appellant.

          The Court : Heard learned counsel for the appellant. No one appears for the

respondent/assessee.

There is a delay of 329 days in filing the appeal. We are satisfied with the

explanation offered for not preferring the appeal within time. Therefore, the delay is

condoned. The application is allowed.

IA No.GA/1/2026 is disposed of.

Learned counsel appearing for the appellant submits that the tax effect in the

instant appeal is Rs.36,89,350/- for the Assessment Year 2012-13. Although the tax effect

in the instant case is less than the prescribed limit of CBDT Circular but the instant case

falls under the exceptional clause (h) of Para No.3.1 of the CBDT's latest Circular

No.05/2024 dated 15.03.2024.

Perused the application and the impugned order of assessment as well as the

Tribunal's order dated 23rd July, 2024. We do not find any application of the exceptional

clause which may merit for consideration of the matter which is below the monetary

limit as prescribed in the Circular No.05/2024 dated 15.3.2024.

Thus, the appeal and the application [GA/2/2026] stand dismissed.

(RAJARSHI BHARADWAJ, J.)

(UDAY KUMAR, J.) sd/