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2018 (10) TMI 930 - AT - Income TaxMonetary limit - tax effect - cumulative tax effect - Held that:- Paragraph 5 of CBDT Circular No.3/2012 had come up for consideration before the Hon’ble Karnataka High Court in the case of CIT, Central Circular Vs. PSI Hydraulics [2012 (10) TMI 1184 - KARNATAKA HIGH COURT] wherein held merely because the order of the CIT(A) is consolidated order passed for several years tax effect should not be seen for each AY separately. The Hon’ble Karnataka High Court held that paragraph 5 of Circular No.3/2013 was discriminatory and offended Article 14 of the Constitution of India. The Hon’ble High Court finally held that even though the cumulative tax effect in a common order passed by CIT(A) for several years is more than 10 lakhs but if the individual tax effect in each assessment year is less than the monetary limit prescribed in Circular No.3/2011, the same should be held to be not maintainable.
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