High Court discharges rule as tax effect falls below Rs. 30,000 threshold

The High Court of Bombay ruled that the tax effect in the case did not exceed Rs. 8,500 per year, falling below the threshold of Rs. 30,000 set by the Central Board of Direct Taxes. Therefore, the court discharged the rule with no costs.

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The High Court of Bombay ruled that the tax effect in the case did not exceed Rs. 8,500 per year, falling below the threshold of Rs. 30,000 set by the Central Board of Direct Taxes. Therefore, the court discharged the rule with no costs. (Case citation: 1991 (3) TMI 128 - BOMBAY High Court)

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