Low Tax Effect As Per CBDT Circular: Supreme Court Dismisses SLP
SLP was dismissed by SC considering Low Tax Effect as per CBDT Circular
cbdt – Supreme Court – SLP – Low Tax – TAXSCAN
cbdt – Supreme Court – SLP – Low Tax – TAXSCAN
The Supreme Court of India dismissed the Special Leave Petition on considering the Low Tax Effect As Per Central Board Direct Taxes( CBDT) Circular.
The SLP arose out of the impugned final judgment and order passed by the High Court of Bombay which was in favour of Dhanlaxmi Fabrics Ltd, the respondent. There was a huge delay of 527 days in filing the special leave petition.
The petitioner submitted that having regard to Circular No.17/2019 dated 08.08.2019 issued by the Government of India, Ministry of Finance, Department of Revenue, Central Board Direct Taxes, Judicial Section, the amount of tax involved, is low.
In the circumstances, a two-judge bench of Justice B V Nagarathna and Justice Ujjal Bhuyane dismissed the Special Leave Petition both on the ground of delay as well as on low tax effect having regard to the aforesaid submissions.
To Read the full text of the Order CLICK HERE
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