https://www.taxtmi.com/caselaws?id=763137 The Bombay HC dismissed revenue appeals as withdrawn due to low tax effect below revised monetary limits in Circular 9/2024. The court held that while enhanced monetary limits apply retrospectively to pending appeals, new exceptions introduced in circulars apply only prospectively to future appeals. The revenue could not rely on the newly introduced exception in para 3.1(l) for proceedings against deductors failing to deduct TDS, as this applied only to appeals filed after the circular's issuance. The court distinguished between regular assessment appeals under section 143(3) and TDS recovery proceedings under section 201, ruling the present case fell under regular assessment where expense disallowance occurred, not TDS recovery proceedings covered by the exception. en-us Mon, 09 Dec 2024 00:00:00 +0530 Fri, 13 Dec 2024 07:23:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763137 The Bombay HC dismissed revenue appeals as withdrawn due to low tax effect below revised monetary limits in Circular 9/2024. The court held that while enhanced monetary limits apply retrospectively to pending appeals, new exceptions introduced in circulars apply only prospectively to future appeals. The revenue could not rely on the newly introduced exception in para 3.1(l) for proceedings against deductors failing to deduct TDS, as this applied only to appeals filed after the circular's issuance. The court distinguished between regular assessment appeals under section 143(3) and TDS recovery proceedings under section 201, ruling the present case fell under regular assessment where expense disallowance occurred, not TDS recovery proceedings covered by the exception. Case-Laws Income Tax Mon, 09 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763137