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2025 (3) TMI 1231 - HC - Income TaxApplication for restoration of Income Tax Appeal which was allowed to be withdrawn or disposed - HELD THAT - This appeal was instituted in 2013. At that time instructions dated 9th February 2011 were in force. The exceptions in clause (8) of this Instruction did not include appeals on TDS issues. The exception regarding TDS issues was introduced only under Circular No. 5 of 2024 dated 15th March 2024. In V. M. Salgaocar and Brothers (P) Limited 2024 (12) TMI 717 - BOMBAY HIGH COURT this Court has held that the exception in Circular No. 5 of 2024 dated 15th March 2024 cannot be applied retrospectively. The increased tax effect ceiling would apply even to pending appeals. Therefore by following the reason in V. M. Salgaocar and Brothers (P) Limited 2024 (12) TMI 717 - BOMBAY HIGH COURT this appeal was correctly withdrawn or disposed of as recorded in the order dated 25th October 2024. Incidentally the decision in V. M. Salgaocar and Brothers (P) Limited 2024 (12) TMI 717 - BOMBAY HIGH COURT was followed in the context of the issue very similar to the one now raised in the case of The Principal Commissioner of Income Tax-23 Mumbai Versus M/s IPL Loan Trust 2025 (2) TMI 453 - BOMBAY HIGH COURT We decline restoration and maintain our earlier orders.
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