Calcutta HC Dismisses Tax Appeal Below ₹2 Crore Limit for Failure to Show CBDT Exception Applies

PCIT Vs Hilton Commodities Pvt Ltd (Calcutta High Court) The Calcutta High Court condoned a delay of 118 days in filing the appeal after being satisfied with the explanation, allowing the application. The appellant submitted that the tax effect of Rs.1,22,97,242 was below the monetary limit prescribed under Central Board of Direct Taxes Circular No. 09/2024and Circular No. 5/2024 but claimed the case fell under an exceptional category specified in para 3.1(h) of Circular No.5/2024. Upon examining the records, including the assessment order, appellate order, and Tribunal’s order dated 24.02.2...