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    Income Tax

    Jurisdiction of Single Member Bench of the Income Tax Appellate...

    Income Tax Appellate Tribunal's Single Member Bench Jurisdiction Based on Assessed Income Per Section 255(3) Limit of Rs. 50 Lakhs.

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    Income TaxMarch 31, 2023Case LawsAT

    Jurisdiction of Single Member Bench of the Income Tax Appellate Tribunal - Monetary limit Rs.50 lakhs for hearing Appeal - In the present case, the assessee returned loss of (-) Rs.1,05 crores. AO made addition of Rs.1,06 crores and finally he determined the income of (+) Rs. 40 thousands - Only assessed income has to be looked into as stipulated in sub-section (3) of section 255 of the Act - AT

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