Summary
- The Supreme Court has dismissed tax appeals by the Commissioner of Commercial Tax against Vikaram Cement, citing a disputed amount of ₹25,47,448 below the ₹2 crore threshold set by the CBIC Circular dated 26 June 2024.
- The case involved reassessment proceedings under Section 19(1) of the Madhya Pradesh General Sales Tax Act, 1958, which were previously quashed by the Madhya Pradesh High Court as barred by limitation.
- The Supreme Court declined to address the substantive limitation issue, emphasizing that the monetary limits apply to both new and pending appeals.
- This ruling reinforces the significance of monetary thresholds in tax litigation while leaving open questions regarding reassessment limitations for future cases.
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