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of <h1>Supreme Court dismisses appeal for Assessment Year 1991-1992 due to low tax effect.</h1> <h3>C.I.T., CENTRAL-1, CALCUTTA Versus M/s. HEMRAJ MAHABIR PRASAD LTD., CALCUTTA</h3> The Supreme Court of India dismissed the appeal for Assessment Year 1991-1992 due to a tax effect of Rs. 8,84,860, below the threshold set by CBDT. The ... Monetary limit - Held that:- As per Instruction No. 2/2005 dated 24.10.2005 of the CBDT, no appeals were to be filed where the tax effect was less than ₹ 10 lakhs . Dismiss the appeal on the ground of low tax effect only. The Supreme Court of India dismissed the appeal for Assessment Year 1991-1992 due to a tax effect of Rs. 8,84,860, below the threshold set by CBDT. The Department's appeal was based on the issue's recurring effect, but the Respondent had accepted a similar Tribunal order for the same treatment without filing appeals in the High Court. The appeal was dismissed based on the low tax effect, keeping the question of law open.
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