https://www.taxtmi.com/caselaws?id=762532 The ITAT Pune dismissed revenue appeals as not maintainable due to low tax effect. The case involved penalty under section 271E where the assessee contravened section 269T by repaying loans other than through account payee or demand draft. The tribunal applied monetary limits from Circular No. 17/2019 (Rs. 50,00,000) and Circular No. 9/2024 (Rs. 60,00,000) for department appeals. Following Rajasthan HC precedent under similar facts, the tribunal agreed with the assessee's contention that appeals below the prescribed monetary threshold are not maintainable and must be dismissed. en-us Fri, 29 Nov 2024 00:00:00 +0530 Mon, 02 Dec 2024 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762532 The ITAT Pune dismissed revenue appeals as not maintainable due to low tax effect. The case involved penalty under section 271E where the assessee contravened section 269T by repaying loans other than through account payee or demand draft. The tribunal applied monetary limits from Circular No. 17/2019 (Rs. 50,00,000) and Circular No. 9/2024 (Rs. 60,00,000) for department appeals. Following Rajasthan HC precedent under similar facts, the tribunal agreed with the assessee's contention that appeals below the prescribed monetary threshold are not maintainable and must be dismissed. Case-Laws Income Tax Fri, 29 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762532