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of <h1>Supreme Court dismisses civil appeal for low tax effect under CBDT circular, question of law kept open.</h1> <h3>The Commissioner of Income Tax-8 Versus M/s. N.S.N. Jewellers Private Limited</h3> The Supreme Court dismissed the civil appeal due to the tax effect being below Rs. 25,00,000 at the time of filing, as per CBDT circular. The question of ... Monetary limit - Held that:- Since the tax effect is below ₹ 25,00,000/- (rupees twenty five lacs only) at the time of filing of the civil appeal, in view of the circular issued by the Central Board of Direct Taxes, this civil appeal is dismissed. The Supreme Court dismissed the civil appeal due to tax effect being below Rs. 25,00,000 at the time of filing, as per CBDT circular. The question of law is kept open. I.A. No.2 of 2016 for direction is disposed of.
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