Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (4) TMI 95 - HC - Income TaxCondition of monetary limit before filing an appeal - Notional Effect - Held that :- merely because even as per the Assessing Officer's order, ultimately income of the assessee is negative, the Revenue's appeal before the appellate Tribunal would not be barred by the Board's circular under Section 268A of the Act. - It is, however, clarified that the notional tax effect would have to be above the limits prescribed by the Board from time to time for presentation of such appeals. - we are of the view that the Tribunal committed an error in dismissing the Revenue's appeals as being not maintainable. In absence of the Board's circulars issued, which now can be stated to be covered under Section 268A of the Act, there are no limitations on Revenue carrying the issue in appeal either before the appellate Tribunal, the High Court, the Supreme Court. Decided in favor of revenue - matter remanded back.
|