https://www.taxtmi.com/caselaws?id=155050 The Appellate Tribunal ITAT Mumbai dismissed both appeals by the Revenue for the assessment year 1997-98, as the tax effect in the appeals was less than Rs. 2 lakhs, rendering them non-maintainable. The Tribunal held that the notional tax effect, as per Instruction No. 5 of 2008, should not be retrospectively applied to pending appeals, following the precedent set by the High Court of Delhi. The decision was based on the interpretation of Circulars and Instructions by the Central Board of Direct Taxes, emphasizing adherence to precedents in similar cases. en-us Tue, 20 Mar 2012 00:00:00 +0530 Mon, 10 Jul 2017 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155050 The Appellate Tribunal ITAT Mumbai dismissed both appeals by the Revenue for the assessment year 1997-98, as the tax effect in the appeals was less than Rs. 2 lakhs, rendering them non-maintainable. The Tribunal held that the notional tax effect, as per Instruction No. 5 of 2008, should not be retrospectively applied to pending appeals, following the precedent set by the High Court of Delhi. The decision was based on the interpretation of Circulars and Instructions by the Central Board of Direct Taxes, emphasizing adherence to precedents in similar cases. Case-Laws Income Tax Tue, 20 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155050