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2018 (5) TMI 1914 - AT - Income TaxMonetary limit - Low tax effect - disallowance of cash payment towards legal fees invoking provisions of section 40A(3) - HELD THAT:- There is no dispute that the net tax effect in the instant appeal is less than ₹ 10 lacs. We find that the Central Board of Direct Taxes; hereafter the ‘Board’ has issued the circular no. 21/2015 dated 10-12-2015 clearly envisaging therein that department’s pending appeals before the tribunal/high courts are to be withdrawn/not pressed as per the above stated circular. The same has been declared to be having retrospective effect in other words. We take into consideration the above stated Board’s circular and dismiss the instant appeal accordingly. This Revenue’s appeal is dismissed as having low tax effect.
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