https://www.taxtmi.com/caselaws?id=305997 The High Court dismissed the appeal challenging the Income Tax Appellate Tribunal's order on the valuation of immovable properties and jewelry liability for the assessment year 1996-97. The court cited a Circular by the Central Board of Direct Taxes setting a monetary limit for appeals, with the tax effect in this case falling below the threshold. The dismissal was without costs, leaving substantial legal questions open for future cases. This decision aligned with guidelines on appeal pursuit based on tax impact, promoting judicial resource efficiency while preserving the opportunity to address legal issues in suitable instances. en-us Thu, 04 Aug 2022 00:00:00 +0530 Tue, 03 Jan 2023 21:54:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305997 The High Court dismissed the appeal challenging the Income Tax Appellate Tribunal's order on the valuation of immovable properties and jewelry liability for the assessment year 1996-97. The court cited a Circular by the Central Board of Direct Taxes setting a monetary limit for appeals, with the tax effect in this case falling below the threshold. The dismissal was without costs, leaving substantial legal questions open for future cases. This decision aligned with guidelines on appeal pursuit based on tax impact, promoting judicial resource efficiency while preserving the opportunity to address legal issues in suitable instances. Case-Laws Income Tax Thu, 04 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305997