https://www.taxtmi.com/caselaws?id=300502 The Tribunal dismissed the Revenue's appeal challenging the deletion of disallowance of deduction u/s.54F due to the low tax effect falling below Rs. 20 lakhs, as per CBDT Circular No.3/2018. The Circular restricts appeals where tax effect is below the threshold, emphasizing strict compliance and providing the option for the Department to seek a recall under specified circumstances. The judgment underscores the importance of adhering to the Circular's provisions and ensuring alignment with prescribed criteria for maintaining appeals before the Tribunal. en-us Thu, 15 Nov 2018 00:00:00 +0530 Mon, 07 Feb 2022 21:12:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300502 The Tribunal dismissed the Revenue's appeal challenging the deletion of disallowance of deduction u/s.54F due to the low tax effect falling below Rs. 20 lakhs, as per CBDT Circular No.3/2018. The Circular restricts appeals where tax effect is below the threshold, emphasizing strict compliance and providing the option for the Department to seek a recall under specified circumstances. The judgment underscores the importance of adhering to the Circular's provisions and ensuring alignment with prescribed criteria for maintaining appeals before the Tribunal. Case-Laws Income Tax Thu, 15 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300502