https://www.taxtmi.com/caselaws?id=212373 The High Court allowed the Tax Appeal, quashed the Tribunal's judgment, and remanded the proceedings for reconsideration. The Court ruled in favor of the Revenue, emphasizing that the notional tax effect exceeding prescribed limits is crucial for appeal maintainability, contrary to the Tribunal's decision based solely on the assessee's negative income. en-us Thu, 30 Jun 2011 00:00:00 +0530 Thu, 22 Mar 2012 15:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212373 The High Court allowed the Tax Appeal, quashed the Tribunal's judgment, and remanded the proceedings for reconsideration. The Court ruled in favor of the Revenue, emphasizing that the notional tax effect exceeding prescribed limits is crucial for appeal maintainability, contrary to the Tribunal's decision based solely on the assessee's negative income. Case-Laws Income Tax Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212373