Pr. Commissioner Of Income Tax Central ... vs M/S Nectar Life Sciences Ltd Th Managing ...
2024 Latest Caselaw 19556 P&H

Punjab-Haryana High Court

Pr. Commissioner Of Income Tax Central ... vs M/S Nectar Life Sciences Ltd Th Managing ... on 6 November, 2024

Author: Sanjeev Prakash Sharma

Bench: Sanjeev Prakash Sharma

                    ITA-136-2016 (O&M)

                                                                  Page 1 of 2

                    214
                                      IN THE HIGH COURT OF PUNJAB AND HARYANA AT
                                                     CHANDIGARH

                                                                                          ITA-136-2016 (O&M)
                                                                                    Date of Decision: 06.11.2024

                    PR. COMMISSIONER OF INCOME TAX (CENTRAL), GURGAON
                                                                      . . . . Appellant
                                                        Vs.
                    M/S NECTAR LIFE SCIENCES LTD.
                                                                   . . . . Respondent
                                                       ****
                    CORAM: HON'BLE MR. JUSTICE SANJEEV PRAKASH SHARMA
                              HON'BLE MR. JUSTICE SANJAY VASHISTH
                                                       ****
                    Present:  Mr. Vaibhav Gupta, Standing Counsel
                              for the appellant/Revenue.

                                        Mr. Abhinav Narang, Advocate,
                                        for the respondent.
                                                              ****

                    SANJEEV PRAKASH SHARMA, J.(Oral)

1. Counsel for the appellant submits that in terms of the Circular bearing

No.9/2024 dated 17.09.2024 issued by the Central Board of Direct Taxes,

the monetary limits for filing of the appeals by the department before the

ITAT, High Court and SLP/Appeals 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:

" 2. As a step towards management of litigation, it has 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 Monetary Limit (Tax effect in Rs.)

1. Before Income Tax Appellate Tribunal 60 lakh

2. Before High Court 2 crore

3. Before Supreme Court 5 crore

authenticity of this order/judgment

ITA-136-2016 (O&M)

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-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 monetary limits."

2. 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

filed 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.

3. In view of aforesaid Circular No.09/2024 dated 17.09.2024, as the case does

not fall within the exception clause of Circular No.5/2024, learned counsel

prays for withdrawal of the present appeal.

4. Accordingly, we allow the prayer as above, and the appeal is dismissed as

withdrawn.

5. All pending applications also stand disposed of accordingly.

(SANJEEV PRAKASH SHARMA) JUDGE

(SANJAY VASHISTH) JUDGE November 06, 2024 Lavisha

1. Whether speaking/reasoned? Yes/No

2. Whether reportable? Yes/No

authenticity of this order/judgment