https://www.taxtmi.com/caselaws?id=382534 The appellate tribunal quashed orders by the CIT under Section 263, citing undisclosed investment and income issues. The appeal was initially dismissed due to revised monetary limits, but later restored upon revenue's plea. Circulars clarified the monetary limit's application to pending appeals, leading to the appeal's disposal. The Central Board of Direct Taxes revised monetary limits, emphasizing case merits over monetary thresholds. The judgment underscored the importance of following circular guidelines for tax appeal restoration and provided detailed instructions on tax effect calculation and exceptions to monetary limits. en-us Fri, 14 Jun 2019 00:00:00 +0530 Fri, 05 Jul 2019 06:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382534 The appellate tribunal quashed orders by the CIT under Section 263, citing undisclosed investment and income issues. The appeal was initially dismissed due to revised monetary limits, but later restored upon revenue's plea. Circulars clarified the monetary limit's application to pending appeals, leading to the appeal's disposal. The Central Board of Direct Taxes revised monetary limits, emphasizing case merits over monetary thresholds. The judgment underscored the importance of following circular guidelines for tax appeal restoration and provided detailed instructions on tax effect calculation and exceptions to monetary limits. Case-Laws Income Tax Fri, 14 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382534