https://www.taxtmi.com/caselaws?id=285999 The judgment addressed the monetary threshold for filing appeals before the ITAT, emphasizing the revised tax effect limit of Rs. 20 lakhs by the CBDT. Appeals should be based on case merits rather than just exceeding monetary limits. The tax effect is defined as the variance in assessed and chargeable tax, excluding interest unless its chargeability is in dispute. Exceptions to monetary limits include certain issues like constitutional challenges and undisclosed foreign assets. The judgment dismissed the Revenue's appeal based on the revised tax effect limits and stressed the importance of following the CBDT Circular for appeal eligibility. Maintaining judicial folders systematically was also highlighted for evidence in not filing appeals. en-us Thu, 29 Nov 2018 00:00:00 +0530 Fri, 07 Feb 2020 09:41:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285999 The judgment addressed the monetary threshold for filing appeals before the ITAT, emphasizing the revised tax effect limit of Rs. 20 lakhs by the CBDT. Appeals should be based on case merits rather than just exceeding monetary limits. The tax effect is defined as the variance in assessed and chargeable tax, excluding interest unless its chargeability is in dispute. Exceptions to monetary limits include certain issues like constitutional challenges and undisclosed foreign assets. The judgment dismissed the Revenue's appeal based on the revised tax effect limits and stressed the importance of following the CBDT Circular for appeal eligibility. Maintaining judicial folders systematically was also highlighted for evidence in not filing appeals. Case-Laws Income Tax Thu, 29 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285999