https://www.taxtmi.com/caselaws?id=191267 The reference under Section 256(1) of the Income Tax Act for Assessment Year 1985-86 was returned unanswered by the court due to the minimal tax impact of the addition disallowed under Section 41(2) amounting to Rs. 75,220. The judges emphasized the need to consider the financial implications and burden on the department in pursuing appeals and references based on the tax effect, ultimately deciding to return the reference unanswered as the tax effect was less than Rs. 30,000. This decision highlights the importance of assessing the tax effect and departmental burden in determining whether to proceed with appeals and references, particularly in cases with minimal financial impact. en-us Fri, 24 Jul 2015 00:00:00 +0530 Tue, 28 Mar 2017 11:49:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191267 The reference under Section 256(1) of the Income Tax Act for Assessment Year 1985-86 was returned unanswered by the court due to the minimal tax impact of the addition disallowed under Section 41(2) amounting to Rs. 75,220. The judges emphasized the need to consider the financial implications and burden on the department in pursuing appeals and references based on the tax effect, ultimately deciding to return the reference unanswered as the tax effect was less than Rs. 30,000. This decision highlights the importance of assessing the tax effect and departmental burden in determining whether to proceed with appeals and references, particularly in cases with minimal financial impact. Case-Laws Income Tax Fri, 24 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191267