Karnataka HC Dismisses Manipal Finance Appeal Over Monetary Limit Constraints

CIT Vs Manipal Finance Corporation Limited (Karnataka High Court) In a recent ruling, the Karnataka High Court dismissed an appeal involving Manipal Finance Corporation Limited. The reason for dismissal was cited as the appeal not being maintainable due to monetary limits, following the guidelines of Circular No.17 of 2019 issued by the Director (ITJ), Central Board Direct Taxes, New Delhi. The case revolved around the monetary limit set for maintainability of appeals. The counsel for the appellants acknowledged that the appeal was not maintainable as it did not meet the monetary limits set ou...