https://www.taxtmi.com/caselaws?id=298243 CBDT Circular No. 3 of 2018, as amended by Circular No. 17 of 2019, carves out an exception to the monetary-limit bar where an assessment is made in conformity with an accepted revenue audit objection. Here, the record showed that the audit objection had been accepted and the assessment order reflected that objection by disallowing interest expenditure. On that basis, the prior dismissal of the revenue appeal for low tax effect could not be sustained. The miscellaneous application was therefore allowed, the earlier order was recalled, and the appeal was restored to its original number and stage. en-us Tue, 25 Aug 2020 00:00:00 +0530 Fri, 22 Oct 2021 08:28:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298243 CBDT Circular No. 3 of 2018, as amended by Circular No. 17 of 2019, carves out an exception to the monetary-limit bar where an assessment is made in conformity with an accepted revenue audit objection. Here, the record showed that the audit objection had been accepted and the assessment order reflected that objection by disallowing interest expenditure. On that basis, the prior dismissal of the revenue appeal for low tax effect could not be sustained. The miscellaneous application was therefore allowed, the earlier order was recalled, and the appeal was restored to its original number and stage. Case-Laws Income Tax Tue, 25 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298243