https://www.taxtmi.com/caselaws?id=756989 Gujarat HC upheld Tribunal's dismissal of Revenue's appeal based on tax effect threshold. AO issued notice u/s 154 following audit objections and revised book profit calculation by adding waiver of principal amount. CIT(A) quashed the s.154 order, ruling no mistake existed in the effect-giving order dated 23rd August 2012, as audit objections pertained to original assessment order which had merged into CIT(A)'s order. Tribunal correctly dismissed Revenue's miscellaneous application, finding appeal wasn't filed due to accepted audit objection, thus not falling under CBDT Circular exceptions requiring withdrawal below threshold limits. en-us Tue, 06 Aug 2024 00:00:00 +0530 Mon, 12 Aug 2024 08:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756989 Gujarat HC upheld Tribunal's dismissal of Revenue's appeal based on tax effect threshold. AO issued notice u/s 154 following audit objections and revised book profit calculation by adding waiver of principal amount. CIT(A) quashed the s.154 order, ruling no mistake existed in the effect-giving order dated 23rd August 2012, as audit objections pertained to original assessment order which had merged into CIT(A)'s order. Tribunal correctly dismissed Revenue's miscellaneous application, finding appeal wasn't filed due to accepted audit objection, thus not falling under CBDT Circular exceptions requiring withdrawal below threshold limits. Case-Laws Income Tax Tue, 06 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756989