https://www.taxtmi.com/caselaws?id=185776 The High Court allowed the Tax Appeal, quashed the Tribunal's judgment, and remanded the proceedings for consideration on merits, holding in favor of the Revenue. The Court clarified that the Board's circulars did not prevent appeals in cases of loss returns, emphasizing that the notional tax effect must exceed the limits prescribed by the Board for such appeals to be presented. The judgment underscored the significance of the tax effect exceeding the set limits for determining the maintainability of appeals in cases of loss returns. en-us Tue, 12 Jul 2011 00:00:00 +0530 Sat, 27 Aug 2016 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185776 The High Court allowed the Tax Appeal, quashed the Tribunal's judgment, and remanded the proceedings for consideration on merits, holding in favor of the Revenue. The Court clarified that the Board's circulars did not prevent appeals in cases of loss returns, emphasizing that the notional tax effect must exceed the limits prescribed by the Board for such appeals to be presented. The judgment underscored the significance of the tax effect exceeding the set limits for determining the maintainability of appeals in cases of loss returns. Case-Laws Income Tax Tue, 12 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185776