https://www.taxtmi.com/caselaws?id=266123 The Tribunal dismissed the appeal challenging the deletion of an addition of Rs. 11,50,000 for unexplained cash credit in the books of account. The tax effect was below the Rs. 4,00,000 limit set by section 268A of the Income-tax Act, 1961. The Department's appeal was dismissed as the tax effect fell below the prescribed limit, following Central Board of Direct Taxes instructions. The Tribunal held that circulars, including revised monetary limits, apply to pending cases. Consequently, both the Department's appeal and the assessee's cross-objection were dismissed on January 1, 2015. en-us Thu, 01 Jan 2015 00:00:00 +0530 Sun, 18 Oct 2015 18:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266123 The Tribunal dismissed the appeal challenging the deletion of an addition of Rs. 11,50,000 for unexplained cash credit in the books of account. The tax effect was below the Rs. 4,00,000 limit set by section 268A of the Income-tax Act, 1961. The Department's appeal was dismissed as the tax effect fell below the prescribed limit, following Central Board of Direct Taxes instructions. The Tribunal held that circulars, including revised monetary limits, apply to pending cases. Consequently, both the Department's appeal and the assessee's cross-objection were dismissed on January 1, 2015. Case-Laws Income Tax Thu, 01 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266123