P&H HC Dismisses Revenue Appeals Below ₹2 Crore Limit Citing CBDT Circular 5/2024

CIT Vs Surjit & Surindera Investments Pvt. Ltd (Punjab and Haryana High Court) The Punjab and Haryana High Court addressed common issues in a bunch of appeals, which were disposed of by a common order. The appellant, the Commissioner of Income Tax (CIT), sought to set aside a common order dated April 24, 2002, passed by the Income Tax Appellate Tribunal (ITAT) concerning Assessment Years (AY) 1984-1985 and 1985-1986. Facts for brevity were borrowed from ITA-198-2002. Issues Raised by the Appellant The appellant raised the following questions of law: Whether the Tribunal was correct in all...