https://www.taxtmi.com/caselaws?id=434199 The court dismissed the appeal at the admission stage, ruling that the tax effect fell below the prescribed limit set by the circular, making the appeal not maintainable. Despite the Revenue's argument regarding an accepted audit objection, the court found no evidence of such acceptance in the communication between the assessing officer and the CIT. The court emphasized that the nature of expenditures, not the audit objections, was the focus of the assessment. Therefore, the appeal was deemed not maintainable based on the monetary limit outlined in the circular. en-us Tue, 14 Feb 2023 00:00:00 +0530 Fri, 12 May 2023 17:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434199 The court dismissed the appeal at the admission stage, ruling that the tax effect fell below the prescribed limit set by the circular, making the appeal not maintainable. Despite the Revenue's argument regarding an accepted audit objection, the court found no evidence of such acceptance in the communication between the assessing officer and the CIT. The court emphasized that the nature of expenditures, not the audit objections, was the focus of the assessment. Therefore, the appeal was deemed not maintainable based on the monetary limit outlined in the circular. Case-Laws Income Tax Tue, 14 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434199