| |
| The Tax Publishers2021 TaxPub(DT) 0503 (Ind-Trib) INCOME TAX ACT, 1961
Section 268A
Since 'Tax effect' involved in the concerned appeal was of Rs. 28,17,564 which was less than Rs. 50,00,000 and therefore, appeal as filed by the Department was not maintainable in view of the monetary limit prescribed by CBDT Circular No. 17 of 2019 dt. 8-8-2019.
|
Appeal (Tribunal) - Maintainability - Low tax effect -
CIT(A) deleted addition made by AO of Rs. 90 lakhs in respect of suspicious loan transactions. Revenue challenged this by way of appeal filed before ITAT. Held: 'Tax effect' involved in the concerned appeal was of Rs. 28,17,564 which was less than Rs. 50,00,000 and therefore, appeal as filed by the Department was not maintainable in view of the monetary limit prescribed by CBDT Circular No. 17 of 2019 dt. 8-8-2019 especially when suspicious loan transaction is not covered in the exception clause of CBDT Circular No. 17 of 2019 dt. 8-8-2019.
REFERRED :
FAVOUR : In assessee's favour
A.Y. : 2010-11
IN THE ITAT, INDORE BENCH
 SUBSCRIBE FOR FULL CONTENT
|