https://www.taxtmi.com/caselaws?id=203506 The High Court held that the appeal was maintainable despite the tax effect exceeding Rs. 4 lakhs, citing exceptions for cases involving significant legal questions. The court emphasized that the assessment was made based on the assessee's agreement regarding interest income, even though penalty proceedings were initiated. The court noted that the assessment was conducted as agreed by the assessee and the auditor, and any challenge to penalty orders could be pursued separately. The court also affirmed the authority of the auditor to represent the assessee and allowed the income-tax appeals, restoring the assessment confirmed in the first appeal. en-us Thu, 03 Dec 2009 00:00:00 +0530 Wed, 26 Dec 2012 15:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203506 The High Court held that the appeal was maintainable despite the tax effect exceeding Rs. 4 lakhs, citing exceptions for cases involving significant legal questions. The court emphasized that the assessment was made based on the assessee's agreement regarding interest income, even though penalty proceedings were initiated. The court noted that the assessment was conducted as agreed by the assessee and the auditor, and any challenge to penalty orders could be pursued separately. The court also affirmed the authority of the auditor to represent the assessee and allowed the income-tax appeals, restoring the assessment confirmed in the first appeal. Case-Laws Income Tax Thu, 03 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203506