INCOME TAX ACT, 1961

Section 260

Appeal (High Court) - Maintainability - Low tax effect - Case of assessee was one of where an audit objection was raised

Revenue preferred an appeal before High Court. It was submitted on behalf of assessee that the said appeal of Revenue would not be maintainable on account of 'low tax effect' and the benefit of CBDT Circular had to be extended to the assessee's case. Revenue submitted that the case of the assessee was one of where an audit objection was raised and therefore, the case would fall within the ambit of the exceptions in the CBDT circular. Held: Since case of assessee was one of where an audit objection was raised, the said case would fall within the ambit of exceptions in CBDT circular and hence, the appeal filed by Revenue could not be dismissed on account of low tax effect.

REFERRED :

FAVOUR : Against the assessee

A.Y. :

INCOME TAX ACT, 1961

Section 147

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