https://www.taxtmi.com/caselaws?id=300724 The Revenue's appeal against the CIT(A) order for Assessment Year 2006-07 was dismissed as the tax effect was below the monetary limit set by the CBDT for filing appeals. The Circular aimed at reducing litigation in income tax cases. The Assessing Officer must calculate tax effect separately for each assessment year. Despite the possibility of exceptions, the appeal was not maintainable due to the tax effect being less than Rs. 50 lakhs. The parties were allowed to seek a recall if falling under exceptions. The judgment emphasized compliance with revised monetary limits to streamline the appellate process. en-us Tue, 24 Sep 2019 00:00:00 +0530 Tue, 22 Feb 2022 07:21:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300724 The Revenue's appeal against the CIT(A) order for Assessment Year 2006-07 was dismissed as the tax effect was below the monetary limit set by the CBDT for filing appeals. The Circular aimed at reducing litigation in income tax cases. The Assessing Officer must calculate tax effect separately for each assessment year. Despite the possibility of exceptions, the appeal was not maintainable due to the tax effect being less than Rs. 50 lakhs. The parties were allowed to seek a recall if falling under exceptions. The judgment emphasized compliance with revised monetary limits to streamline the appellate process. Case-Laws Income Tax Tue, 24 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300724