Commissioner Of Income Tax Delhi-Iv, New Delhi v. Industrial Finance Corporation Of India Limited
High Court
04 Dec 2024 In favour of: Assessee
Forum / Bench
High Court · dhcdb
Parties
Commissioner Of Income Tax Delhi-Iv, New Delhi v. Industrial Finance Corporation Of India Limited
Date of order
04 Dec 2024
Assessment year(s)
1998-99
Outcome
Dismissed
The order — as passed by the High Court
Case summary
In Commissioner Of Income Tax Delhi-Iv, New Delhi v. Industrial Finance Corporation Of India Limited, the High Court (2024) dismissed the appeal. The decision went in favour of the assessee.
Decision: 3.Accordingly, the present appeal is dismissed on account of low tax effect.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
$~R~23
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ ITA 619/2008
COMMISSIONER OF INCOME TAX DELHI-IV, NEW DELHI .....Appellant Through: Counsel (appearance not given)
versus
INDUSTRIAL FINANCE CORPORATION OF INDIA LIMITED
.....Respondent
Through: Mr. Vaibhav Kulkarni and Mr. Himanshu Agarwal, Advocates
CORAM:HON'BLE MR. JUSTICE VIBHU BAKHRUHON'BLE MS. JUSTICE SWARANA KANTA SHARMA
O R D E R
% 04.12.2024
1.The Revenue has filed the present appeal impugning the order dated 29.06.2007 passed by the learned Income Tax Appellate Tribunal in ITA No.1066/Del/2002 for the assessment year 1998-99.
2.At the outset, the learned counsel appearing for the Revenue states
that the tax effect involved in the present appeal is below the threshold limit of ₹2,00,00,000/- as stipulated in the Circular dated 17.09.2024 and is not covered by any exceptions as set out in the circular.
3.Accordingly, the present appeal is dismissed on account of low tax effect.
VIBHU BAKHRU, J
DECEMBER 4, 2024
ns
SWARANA KANTA SHARMA, J
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