2016 (3) TMI 739 - SCH - Income Tax

Monetary limit - Held that - Since the tax effect is below Rs. 25, 00, 000/- (rupees twenty five lacs only) at the time of filing of the civil appeal in view of the circular issued by the Central Board of Direct Taxes this civil appeal is dismissed.

Summary

The Supreme Court dismissed the civil appeal due to tax effect being below Rs. 25,00,000 at the time of filing, as per CBDT circular. The question of law is kept open. I.A. No.2 of 2016 for direction is disposed of.