https://www.taxtmi.com/caselaws?id=242597 The High Court allowed the Tax Appeal, overturning the ITAT's dismissal of the Revenue's appeal based on nil tax effect in a loss case. The Court clarified that notional tax effect should be considered, emphasizing that appeals should not be barred solely due to declared losses. The decision highlighted the importance of adhering to Board circulars on appeal filing criteria, remanding the case for further consideration on merits. en-us Thu, 26 Dec 2013 00:00:00 +0530 Sat, 18 Jan 2014 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242597 The High Court allowed the Tax Appeal, overturning the ITAT's dismissal of the Revenue's appeal based on nil tax effect in a loss case. The Court clarified that notional tax effect should be considered, emphasizing that appeals should not be barred solely due to declared losses. The decision highlighted the importance of adhering to Board circulars on appeal filing criteria, remanding the case for further consideration on merits. Case-Laws Income Tax Thu, 26 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242597