https://www.taxtmi.com/caselaws?id=70886 Reference applications under s. 256(1) were not maintainable where the tax effect in each assessment year was below the prescribed threshold, because the governing CBDT circulars directed that such references not be filed to reduce litigation. The Tribunal also relied on the Bombay High Court's recognition of those circulars as barring references in such cases. Applying the circulars and precedent, it dismissed the Department's applications. en-us Thu, 17 Feb 1994 00:00:00 +0530 Tue, 19 Apr 2011 18:18:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70886 Reference applications under s. 256(1) were not maintainable where the tax effect in each assessment year was below the prescribed threshold, because the governing CBDT circulars directed that such references not be filed to reduce litigation. The Tribunal also relied on the Bombay High Court's recognition of those circulars as barring references in such cases. Applying the circulars and precedent, it dismissed the Department's applications. Case-Laws Income Tax Thu, 17 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70886