https://www.taxtmi.com/caselaws?id=254894 The appeal by the revenue challenging the deletion of an addition under section 68 of the Income Tax Act was dismissed by the ITAT due to the tax effect being below the prescribed limit for filing an appeal. The ITAT considered the revised monetary limits for filing appeals and held that the instruction issued by the CBDT was applicable, leading to the dismissal of the revenue's appeal without considering the merits. Consequently, both the revenue's appeal and the assessee's cross objection regarding the validity of the reopening of assessment were dismissed. en-us Thu, 13 Nov 2014 00:00:00 +0530 Mon, 16 Feb 2015 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254894 The appeal by the revenue challenging the deletion of an addition under section 68 of the Income Tax Act was dismissed by the ITAT due to the tax effect being below the prescribed limit for filing an appeal. The ITAT considered the revised monetary limits for filing appeals and held that the instruction issued by the CBDT was applicable, leading to the dismissal of the revenue's appeal without considering the merits. Consequently, both the revenue's appeal and the assessee's cross objection regarding the validity of the reopening of assessment were dismissed. Case-Laws Income Tax Thu, 13 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254894