Dismissal of Special Leave Petition on Ground of Low Tax Effect.
Dismissal of Special Leave Petition on Ground of Low Tax Effect.
The learned counsel for the petitioners argued that their case was covered by exception 10(c) of the CBDT's Circular 3 of 2018, but upon examining the reasons for re-opening the assessment, the court found the plea not convincing. As a result, the special leave petition was dismissed on the ground of low tax effect.
Ms. Gargi Khanna, learned counsel appearing for the petitioners submits that in the list of dates, it has been mentioned that this case is covered by exception 10(c) of the CBDT’s Circular 3 of 2018.
We have perused the reasons for re-opening the assessment, which do not mention any audit objection. The plea of the petitioners that this case is covered by the exception is not convincible.
The special leave petition is, therefore, dismissed on the ground of low tax effect.
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