Late Gyan Chand Jain Thr Lr. Manish Kumar ... vs Commissioner Of Income Tax I

The Supreme Court ruled in favor of the appellant, overturning the High Court's decision that had set aside the ITAT's order deleting the penalty under Section 271(1)(c) of the Income Tax Act. The court emphasized the applicability of CBDT Circular No.21 of 2015, which restricts the Revenue from appealing in cases where the tax effect is below Rs.20,00,000. Consequently, the appeal by the Revenue was deemed not maintainable due to the reduced penalty amount falling below the specified threshold.