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2017 (10) TMI 1152 - AT - Income TaxMaintainability of appeal - monetary limit - Held that:- If the tax effect excluding surcharge, education cess etc. is below ₹ 10 lakhs, the Revenue is not authorised to file an appeal and if it is filed, they should withdraw the appeal. Estimation of income from IMFL business - 10% OR 5% - Held that:- The coordinate bench of the Tribunal in the case of Tangudu Jogisetty (2016 (7) TMI 379 - ITAT VISAKHAPATNAM) has considered the profit level in the line of business and decided that 5% of purchase price is reasonable profit margin in the line of IMFL business and directed the A.O. to re-compute the profit of the assessee. Thus we direct the A.O. to re-compute the income of the assessee at 5% of purchase price. Accordingly, this ground of appeal raised by the assessee is allowed.
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