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2014 (6) TMI 533 - ITAT DELHITax effect below prescribed limit - monetary limit for filing an appeal - Held that:- Assessee rightly contended that the tax effect in the case is less than Rs.3.00 Lacs - The position was admitted by the Sr. DR, Ms. Meenakshi Vohra and the parties were directed to place the exact tax effect involved on record - no calculations were provided by the parties - Instruction No.-3/2011 [F.No.279/MISC. 142/2007-ITJ], Dated 09.02.2011 dated 09.02.2011 clearly sets out the “tax effect” will not include interest thereof as such the tax effect is below Rs.3.00 lacs if the interest in the calculation provided is reduced – also it had been held by the high court that the tax impact is less than Rs. 10.00 lacs – revenue has recently issued an instruction bearing no. 3/2011 dated 09.02.2011, which is identical to its earlier instruction bearing no. 5/2008 dated 15.05.2008 - the monetary limit in respect of appeals where the questions of law raised need not to be answered, has been raised from Rs. 4.00 lacs to Rs. 10.00 lacs - the instruction bearing no. 5/2008 dated 15.05.2008 would apply even to the old pending references and appeals - the principle would thus naturally equally apply to the instant instruction bearing no.3/2011 dated 09.02.2011, as well- The tax effect being less than Rs. 10.00 lacs, the question of law does not require to be answered. The appeals are disposed of accordingly - Instruction No.3/2011 dated 09.02.2011 will apply to the present appeal – Decided against Revenue.
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