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2018 (7) TMI 2269 - AT - Income TaxMonetary limit to file appeal before ITAT - Low tx effect - whether tax effect is below the monetary limit ? - Default u/s 201(1)/201(1A) - HELD THAT:- As it has been clarified that ‘tax effect’ shall be tax including applicable surcharge and cess. However, the tax will not include any interest thereon, except where chargeability of interest itself is in dispute. Thus, while calculating the tax effect in the instant case, one has to exclude the interest of Rs.5,52,885/- determined by the AO u/s 201(1A) - Thereby the tax effect herein does not exceed the monetary limit of Rs.20,00,000/- fixed for filing appeal before the Tribunal. Appeal filed by the revenue is dismissed as not pressed.
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