2026 (5) TMI 1147

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....bhishek Maratha, SSC with Mr. Apoorv Agarwal, JSC, Mr. Viplav Acharya, JSC, Ms. Nupur Sharma & Mr. Gaurav Singh, Advs. For the Respondent Through: Mr. Ruchesh Sinha, Ms. Monalisa Maity & Ms. Upasna Vashistha, Advs. ORDER 1. Mr. Abhishek Maratha, learned Senior Standing Counsel for the appellant-Department invited Court's attention towards the assessment order dated 17.03.2023 and submitte....

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.... the Tribunal ought not have rejected the appeal without going into the merit of the case. 4. Learned counsel for the respondent on the other hand submitted that the Tribunal has not only rejected the Department's appeal on the tax effect being lesser than the limits prescribed by the Circular no. 5/2024, but also on merit. In this regard, he took the Court through the submissions which the Tri....

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....owing part, we have no iota of doubt that learned members of the Tribunal have not considered the merits of the case and have rejected the appeal simply on the ground of tax effect involved being lesser than the limits prescribed by the said Circular: "Hence, without going into the merits of the issue, this appeal is hereby dismissed on the ground of low tax effect. The case does not fall....

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....es involving organized tax evasion including cases of bogus capital gain/loss through penny stocks and cases of accommodation entries," 10. According to us, clause 'h' has wide sweep and the latter part thereof "cases of bogus capital gains/loss through penny stocks and cases of accommodation entries" is explanatory and it does not limit the scope. The use of the expression "including" unequivo....