ITO 12(1)(1), MUMBAI vs. AMBFS P. LTD, MUMBAI
In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.
What did the Tribunal hold?
The Tribunal held that the appeal was not maintainable as the tax effect was below the prescribed monetary limit for filing appeals before the Appellate Tribunal. The appeal was dismissed accordingly.
What were the facts?
The revenue filed an appeal against the order of the CIT(A) which had granted relief to the assessee. The tax effect of the quantum addition contested by the revenue was below the monetary limit prescribed by the CBDT.
What were the issues?
Whether the revenue's appeal is maintainable before the Tribunal given the tax effect of the disputed additions is below the monetary limit specified by CBDT circulars.
Which sections of the Income-tax Act were involved?
Not explicitly mentioned, but relates to appeal filing criteria based on tax effect.
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, “A” BENCH, MUMBAI
Before: SHRI SAKTIJIT DEY, JM & SHRI MANOJ KUMAR AGGARWAL, AM
O R D E R
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