https://www.taxtmi.com/caselaws?id=76324 The court dismissed the appeal by the Revenue challenging the Tribunal's decision to reject a co-operative bank's claim for exemption of interest income under section 80P(2)(a)(i) of the Income-tax Act. The court upheld the binding nature of the circular issued by the Central Board of Direct Taxes on the monetary limit for filing appeals, emphasizing adherence to statutory provisions. As the tax effect was below the prescribed limit, the Revenue accepted the circular's applicability, leading to the appeal's dismissal. The judgment underscores the importance of following circulars and statutory provisions in taxation matters. en-us Wed, 22 Apr 2009 00:00:00 +0530 Wed, 07 Sep 2011 16:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76324 The court dismissed the appeal by the Revenue challenging the Tribunal's decision to reject a co-operative bank's claim for exemption of interest income under section 80P(2)(a)(i) of the Income-tax Act. The court upheld the binding nature of the circular issued by the Central Board of Direct Taxes on the monetary limit for filing appeals, emphasizing adherence to statutory provisions. As the tax effect was below the prescribed limit, the Revenue accepted the circular's applicability, leading to the appeal's dismissal. The judgment underscores the importance of following circulars and statutory provisions in taxation matters. Case-Laws Income Tax Wed, 22 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76324