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2013 (9) TMI 1070 - HC - Income TaxMonetary limit - Held that:- ITAT has dismissed the appeals solely on the ground of low tax effect and on the ground that the amount of tax involved is below monetary limits prescribed by the Board. While dismissing the appeals, learned ITAT has not entered into the merits of the case at all and has dismissed the appeals solely on the aforesaid ground. However, learned ITAT has not properly appreciated the fact that appropriate computation of law should be necessary and may have relevance, if any, subsequent years, the assessee declares profits. It is the case on behalf of the revenue that the aforesaid would have been considered, the amount involved in each of the appeals is in excess of limit laid down in the circular prevailing at the relevant time.
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