https://www.taxtmi.com/caselaws?id=263929 The Tribunal dismissed the Revenue's appeals concerning the disallowance of expenses related to a closed business and the addition of excess provision not offered for tax due to the tax effect being below the revised monetary limit of Rs. 4 lakhs set by Instruction No. 5 of 2014. The Tribunal emphasized the applicability of the revised monetary limits to pending cases, citing legal precedents and statutory provisions. This decision highlights the importance of adhering to monetary thresholds for filing appeals, ensuring judicial efficiency and preventing the overload of courts and tribunals with cases falling below the prescribed limits. en-us Wed, 10 Jun 2015 00:00:00 +0530 Mon, 14 Sep 2015 06:57:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263929 The Tribunal dismissed the Revenue's appeals concerning the disallowance of expenses related to a closed business and the addition of excess provision not offered for tax due to the tax effect being below the revised monetary limit of Rs. 4 lakhs set by Instruction No. 5 of 2014. The Tribunal emphasized the applicability of the revised monetary limits to pending cases, citing legal precedents and statutory provisions. This decision highlights the importance of adhering to monetary thresholds for filing appeals, ensuring judicial efficiency and preventing the overload of courts and tribunals with cases falling below the prescribed limits. Case-Laws Income Tax Wed, 10 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263929