Maharashtra vs. Shyam Advisory Services Pvt. Ltd.

Parties Involved

Facts Summary

The present appeal was filed by the Revenue challenging the order dated 19/12/2023 passed by the National Faceless Appeal Centre (NFAC), Delhi, partly allowing the appeal against the Assessment Order dated 18/12/2019 passed under Section 143(3) of the Income Tax Act, 1961 for the Assessment Year 2017-18. The tax effect in the present appeal is INR 58,66,665/-. According to Circular No. 9 of 2024, dated 17/09/2024, issued by the Central Board of Direct Taxes (CBDT), the monetary limit for filing departmental appeals before the Tribunal stands enhanced, and departmental appeals are not to be filed before the Tribunal in cases where the tax effect does not exceed the specified monetary limits of INR 60 Lakhs.…

Legal Issues

• 1. Whether the appeal should be dismissed as withdrawn due to the tax effect being below the specified monetary limit?

Judgment Outcome

Decided in favour of Revenue.

Precedents Relied Upon

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