https://www.taxtmi.com/caselaws?id=152742 The appeals by the Revenue against the Income-tax Appellate Tribunal's order for the assessment years 1994-95 and 1995-96 were dismissed. The Tribunal's decision was upheld based on the circular issued by the Central Board of Direct Taxes, which set monetary limits for filing appeals to reduce litigation. As the tax effect in the cases was below the prescribed limit, the circular was deemed binding on the Revenue. The court emphasized the importance of statutory provisions and the binding nature of circulars under the Income-tax Act, leading to the dismissal of the appeals without costs. en-us Mon, 06 Apr 2009 00:00:00 +0530 Tue, 11 Nov 2014 16:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152742 The appeals by the Revenue against the Income-tax Appellate Tribunal's order for the assessment years 1994-95 and 1995-96 were dismissed. The Tribunal's decision was upheld based on the circular issued by the Central Board of Direct Taxes, which set monetary limits for filing appeals to reduce litigation. As the tax effect in the cases was below the prescribed limit, the circular was deemed binding on the Revenue. The court emphasized the importance of statutory provisions and the binding nature of circulars under the Income-tax Act, leading to the dismissal of the appeals without costs. Case-Laws Income Tax Mon, 06 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152742