https://www.taxtmi.com/caselaws?id=381982 The High Court of Madras dismissed a Tax Case Appeal regarding the application of Section 14A of the Income Tax Act for the Assessment year 2000-01. The Court found that the appeal did not meet the monetary limit specified in Circular No.3 of 2018 issued by the Central Board of Direct Taxes. As the Revenue did not provide reasons to deviate from the circular, the Court ruled that the appeal could not proceed due to the low tax effect. The appeal was dismissed, allowing the Revenue to seek restoration if the tax effect surpassed the threshold in the future. en-us Tue, 04 Jun 2019 00:00:00 +0530 Fri, 21 Jun 2019 17:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381982 The High Court of Madras dismissed a Tax Case Appeal regarding the application of Section 14A of the Income Tax Act for the Assessment year 2000-01. The Court found that the appeal did not meet the monetary limit specified in Circular No.3 of 2018 issued by the Central Board of Direct Taxes. As the Revenue did not provide reasons to deviate from the circular, the Court ruled that the appeal could not proceed due to the low tax effect. The appeal was dismissed, allowing the Revenue to seek restoration if the tax effect surpassed the threshold in the future. Case-Laws Income Tax Tue, 04 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381982