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| The Tax Publishers2020 TaxPub(DT) 4068 (Mad-HC) INCOME TAX ACT, 1961
Section 260A Section 32
Where tax case appeal was dismissed on account of the low tax effect and in the event the tax effect was above the threshold limit fixed in CBDT Circular No. 17/2019, dated 8-8-2019, therefore, liberty is granted to the Revenue to make a mention to this Court to restore the appeal to be heard and decided on merits.
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Appeal (High Court) - Maintainability - Low tax effect - Depreciation on intangible assets
Appeal filed by the Revenue was disposed of and was not pursued on account of the low tax effect in terms of CBDT Circular, No.17/2019 dated 8-8-2019. By the said Circular, the monetary limit for filing or pursuing an appeal before the High Court was increased to Rs. 1 Crore. It is further submitted that the tax effect in this case was less than the threshold limit. Held: The tax case appeal was dismissed on account of the low tax effect. In the event the tax effect is above the threshold limit fixed in CBDT Circular No. 17/2019, dated 8-8-2019, liberty is granted to the Revenue to make a mention to this Court to restore the appeal to be heard and decided on merits.
REFERRED : Wayne Burt Petrochemicals (P) Ltd. v. DCIT & (Vice-Versa) 2018 TaxPub(DT) 6136 (Chen-Trib)
FAVOUR : In assessee's favour
A.Y. : 2013-14
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