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2015 (7) TMI 1014 - AT - Income TaxEligible business for claiming deduction u/s 80IC - whether CIT (A) has completely erred to appreciate the implications of income being offered by the assessee itself for taxation and action taken by the A.O. It is a case of deduction u/s 80lC and the assessee did not have profit from eligible business for claiming deduction u/s 801C? - Tax effect in this appeal is less than ₹ 4,00,000/-, therefore, whether the Department ought not to have filed this appeal? - Held that:- It is not in dispute that the Board's instruction or directions issued to the other income-tax authorities are binding on those authorities, therefore, the Department ought not to have filed the appeal in view of the above mentioned section 268A since the tax effect in the instant case is less than the amount prescribed for not filing the appeal. Keeping in view the CBDT Instruction No. 5 of 2014 dated 10th July, 2014 and also the provisions of section 268A of Income Tax Act, 1961, we are of the view that the Revenue should not have filed the instant appeal before the Tribunal. See CIT vs. Delhi Race Club Ltd. [2011 (3) TMI 1488 - High Court of Delhi] - Decided against revenue.
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