Case Law Details
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 out in the circular issued by the Central Board Direct Taxes. In response, the court found no reason to proceed further with the case and dismissed the appeal.
This decision underlines the critical importance of understanding and adhering to procedural requirements and guidelines when filing appeals, including monetary limits. The court’s verdict is a reminder of the legal principles of economy, efficiency, and respect for the guidelines set by the authorities, and underscores that ignoring these principles can lead to the dismissal of the appeal.
The ruling of the Karnataka High Court in CIT Vs Manipal Finance Corporation Limited reaffirms the importance of following monetary limits when filing appeals. As evident from the dismissal of the appeal, not adhering to the limits set in the circular from the Central Board Direct Taxes can lead to legal repercussions. Thus, this case underlines the need for careful legal preparation and adherence to guidelines when preparing for an appeal.
FULL TEXT OF THE JUDGMENT/ORDER OF KARNATAKA HIGH COURT
The learned counsel for the appellants submit that the appeal is not maintainable in view of the monetary limits in terms of Circular No.17 of 2019 dated 08.08.2019 passed by Director (ITJ), Central Board Direct Taxes, New Delhi.
2. In view of the submission made, the appeals are dismissed as such
