https://www.taxtmi.com/caselaws?id=343914 The Appellate Tribunal ITAT Mumbai dismissed the revenue's appeal against an order under section 143(3) read with section 263 of the Income Tax Act for the assessment year 2007-08. The appeal was found not maintainable as the tax effect was below the revised limit of Rs. 10 lakhs set by CBDT instruction No.21/2015, which applies retrospectively to pending and future appeals. The judgment emphasizes the necessity of adhering to the revised monetary limits for filing appeals and recording reasons for not pursuing appeals based on tax effect thresholds. en-us Thu, 01 Jun 2017 00:00:00 +0530 Mon, 05 Jun 2017 07:11:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343914 The Appellate Tribunal ITAT Mumbai dismissed the revenue's appeal against an order under section 143(3) read with section 263 of the Income Tax Act for the assessment year 2007-08. The appeal was found not maintainable as the tax effect was below the revised limit of Rs. 10 lakhs set by CBDT instruction No.21/2015, which applies retrospectively to pending and future appeals. The judgment emphasizes the necessity of adhering to the revised monetary limits for filing appeals and recording reasons for not pursuing appeals based on tax effect thresholds. Case-Laws Income Tax Thu, 01 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343914