Supreme Court of India · 2022-04-19
LATE GYAN CHAND JAIN THR LR. MANISH KUMAR JAIN vs COMMISSIONER OF INCOME TAX I
- Citation / case number
- SC 2016/21243
- Court
- Supreme Court of India
- Petitioner
- LATE GYAN CHAND JAIN THR LR. MANISH KUMAR JAIN
- Respondent
- COMMISSIONER OF INCOME TAX I
- Author
- HON'BLE MR. JUSTICE M.R. SHAH
- Bench
- HON'BLE MRS. JUSTICE B.V. NAGARATHNA HON'BLE MR. JUSTICE M.R. SHAH
Judgment text excerpt
The Supreme Court allowed the appeal of the appellant against the High Court's decision which had set aside the ITAT's order deleting the penalty under Section 271(1)(c) of the Income Tax Act. The court held that the Revenue's appeal was not maintainable as per the CBDT Circular No.21 of 2015, which restricts appeals for tax effects below Rs.20,00,000. Consequently, the penalty was deemed unjustified given the reduced tax effect.