https://www.taxtmi.com/caselaws?id=303125 The appeal by the Revenue challenging an order regarding 'on money' receipts and unexplained cash credit for the assessment year 1993-94 was dismissed by the ITAT Ahmedabad due to low tax effect falling below the enhanced limit of Rs.50 lakhs set by CBDT Circular No. 17 of 2019. The Tribunal emphasized the circular's retrospective application to pending appeals and ruled that the Revenue's appeal was not maintainable. It was clarified that the Revenue could file a Miscellaneous Application if re-verification revealed a tax effect exceeding Rs.50 lakhs or falling within the exemption clause of the Circular. en-us Thu, 30 Jan 2020 00:00:00 +0530 Wed, 06 Jul 2022 00:18:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303125 The appeal by the Revenue challenging an order regarding 'on money' receipts and unexplained cash credit for the assessment year 1993-94 was dismissed by the ITAT Ahmedabad due to low tax effect falling below the enhanced limit of Rs.50 lakhs set by CBDT Circular No. 17 of 2019. The Tribunal emphasized the circular's retrospective application to pending appeals and ruled that the Revenue's appeal was not maintainable. It was clarified that the Revenue could file a Miscellaneous Application if re-verification revealed a tax effect exceeding Rs.50 lakhs or falling within the exemption clause of the Circular. Case-Laws Income Tax Thu, 30 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303125