https://www.taxtmi.com/caselaws?id=184894 The revenue's appeal was dismissed by the Tribunal as the tax effect was below the prescribed monetary limit for filing appeals. The addition of Rs. 7,85,000/- under section 68 was deleted, citing precedents of cases dismissed for the same reason. The Tribunal allowed the assessee's cross objection, deleting the addition of Rs. 1 lac made under section 68, as the genuineness of the transaction and creditworthiness were established. The Tribunal also affirmed the applicability of the CBDT circular on the monetary limit for filing appeals. en-us Wed, 29 Jun 2011 00:00:00 +0530 Sat, 23 Jul 2016 13:52:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184894 The revenue's appeal was dismissed by the Tribunal as the tax effect was below the prescribed monetary limit for filing appeals. The addition of Rs. 7,85,000/- under section 68 was deleted, citing precedents of cases dismissed for the same reason. The Tribunal allowed the assessee's cross objection, deleting the addition of Rs. 1 lac made under section 68, as the genuineness of the transaction and creditworthiness were established. The Tribunal also affirmed the applicability of the CBDT circular on the monetary limit for filing appeals. Case-Laws Income Tax Wed, 29 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184894