TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Appeal Dismissed for Low Tax Effect under CBDT Circular</h1> <h3>Commissioner Of Income Tax-I Versus UTI Bank Limited</h3> The Gujarat HC dismissed the appeal due to the tax effect being below Rs. 50,00,000 and not meeting exceptional clauses as per CBDT Circular No.3/2018. ... Low tax effect - monetary limit - HELD THAT:- As submitted a note together with a communication dated 29.10.2018 of the Joint Commissioner of Income Tax (Judicial), for Principal Chief Commissioner of Income Tax, Gujarat, Ahmedabad, instructing her to withdraw the appeal as the tax effect is below the monetary limit of ₹ 50,00,000/- and the case does not fall in the exceptional clauses as per the CBDT Circular No.3/2018 dated 11.07.2018, reserving a right to revive the appeal in case any discrepancy comes to notice at a later stage after withdrawal of the appeal as human error cannot be ruled out. The Gujarat High Court dismissed the appeal as the tax effect was below Rs. 50,00,000 and did not qualify under exceptional clauses per CBDT Circular No.3/2018. The appellant was allowed to withdraw the appeal with the right to revive it later if needed. Ms. Harsha Devani delivered the oral order.
TaxTMI 
TaxTMI 
