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2011 (3) TMI 753 - HC - Income TaxMandatory monetary limits for filing appeals. - How the tax effect is to be calculated and not with the minimum limit of the tax effect prescribed in the circular simpliciter. - Held that:- When it comes to the meaning that is to be assigned to the "tax effect" and the modified manner/formula is prescribed in O. M. dated May 15, 2008, such a circular on this aspect has to be treated as having prospective application more so when paragraph 11 thereof specifically so provides. It would be more so when the same is to the prejudice of the assessee. - Decided against revenue.
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