https://www.taxtmi.com/caselaws?id=261478 The ITAT DELHI dismissed the Revenue's appeal challenging the decision allowing the assessee's appeal and rejecting the Assessing Officer's low gross profit addition. The Tribunal held that as the tax effect was below the prescribed limit of &8377; 4,00,000 set by the CBDT and Section 268A of the Income Tax Act, 1961, the appeal should not have been filed. Relying on precedents, the Tribunal emphasized the binding nature of CBDT instructions, leading to the dismissal of the appeal without considering the case's merits. Compliance with monetary limits for filing appeals was underscored, resulting in the dismissal of the Revenue's appeal. en-us Wed, 25 Feb 2015 00:00:00 +0530 Tue, 14 Jul 2015 16:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261478 The ITAT DELHI dismissed the Revenue's appeal challenging the decision allowing the assessee's appeal and rejecting the Assessing Officer's low gross profit addition. The Tribunal held that as the tax effect was below the prescribed limit of &8377; 4,00,000 set by the CBDT and Section 268A of the Income Tax Act, 1961, the appeal should not have been filed. Relying on precedents, the Tribunal emphasized the binding nature of CBDT instructions, leading to the dismissal of the appeal without considering the case's merits. Compliance with monetary limits for filing appeals was underscored, resulting in the dismissal of the Revenue's appeal. Case-Laws Income Tax Wed, 25 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261478