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| The Tax Publishers2019 TaxPub(DT) 8410 (Mum-Trib) INCOME TAX ACT, 1961
Section 268A
Considering tax effect involved in instant appeal was less than monetary limit prescribed vide CBDT Circular No. 17/2019 dated 08-8-2019, appeal was dismissed on account of lower tax effect.
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Appeal (Tribunal) - Maintainability - Case involving lower tax effect -
AO assailed imposition of penalty under section 271(1)(c) for disallowance of provision for bonus claimed under section 43B. Held: CIT(A) deleted penalty relying upon decision of Tribunal in assessee's own case for assessment year 2001-02, wherein penalty levied under section 271(1)(c) was deleted on similar set of facts. Further tax effect involved in instant appeal was less than monetary limit prescribed vide CBDT Circular No. 17/2019 dated 08-8-2019. Therefore, appeal was dismissed on account of lower tax effect as well.
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
INCOME TAX ACT, 1961
Section 271(1)(c)
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