https://www.taxtmi.com/caselaws?id=404154 The court ruled in favor of the revenue, emphasizing the correct interpretation of Circular No. 21/2015. It held that the appeal before the tribunal should have been maintained as the notional tax effect on disputed additions exceeded 10 lakhs. The court found the tribunal's dismissal of the appeal solely based on the tax effect to be incorrect and emphasized the need for proper adjudication on the substantial disallowances made by the Assessing Authority. The matter was remitted back to the tribunal for a fresh decision, ensuring a thorough consideration of the disputed issues. en-us Wed, 27 Jan 2021 00:00:00 +0530 Tue, 16 Feb 2021 19:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404154 The court ruled in favor of the revenue, emphasizing the correct interpretation of Circular No. 21/2015. It held that the appeal before the tribunal should have been maintained as the notional tax effect on disputed additions exceeded 10 lakhs. The court found the tribunal's dismissal of the appeal solely based on the tax effect to be incorrect and emphasized the need for proper adjudication on the substantial disallowances made by the Assessing Authority. The matter was remitted back to the tribunal for a fresh decision, ensuring a thorough consideration of the disputed issues. Case-Laws Income Tax Wed, 27 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404154