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of <h1>Delhi High Court Dismisses Appeal for Tax Effect Below CBDT Threshold</h1> <h3>Commissioner of Income Tax Versus Delhi Race Club Ltd.</h3> The High Court of Delhi dismissed the appeal as the tax effect was below the threshold set by CBDT guidelines, following a previous decision not to ... Tax Effect - Monetary limit of ₹ 10 Lacs for filing an appeal - Retrospective effect - - held that:- This Court in the case of Commissioner of Income Tax Delhi-III v. M/s P.S. Jain and Co. [2010 (8) TMI 702 - DELHI HIGH COURT] decided on 2nd August, 2010 has taken a view that such circular would also apply to pending cases. The High Court of Delhi dismissed the appeal due to a tax effect of 4,65,860/-, falling below the threshold set by CBDT guidelines. The court applied a previous decision stating that cases with tax effects under 10 lakhs should not be entertained, even for pending cases.
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