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of <h1>SC Dismisses Petition for Low Tax Effect, Condoning Delay</h1> <h3>DEPUTY COMMISSIONER OF INCOME TAX Versus JALIL ABDULBHAI SHAIKH</h3> The SC dismissed the special leave petition due to low tax effect below Rs. 1 crore, but condoned the delay. - DEPUTY COMMISSIONER OF INCOME TAX Versus ... Reopening of assessment - notice issued after four years - disallowance of claim of expenditure of 30% of the receipts - Held that:- In view of the fact that the tax effect in the present case is below the threshold of ₹ 1 crore, we are not entertaining the special leave petition. The special leave petition is, accordingly, dismissed on the ground of low tax effect. The Supreme Court dismissed the special leave petition due to low tax effect below Rs. 1 crore. Delay was condoned.
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