https://www.taxtmi.com/caselaws?id=771149 For applying CBDT low-tax-effect circulars, tax effect must be computed only with reference to the disputed additions in the year under appeal, including the reduction of a returned loss or assessment of income for that year. Brought-forward losses from earlier finalised assessment years cannot be added to the computation unless those prior assessments are reopened. On that basis, the tax effect remained below the prescribed monetary threshold, so the Revenue could not pursue the appeal on merits and the challenge was barred by the circular instructions. en-us Wed, 07 May 2025 00:00:00 +0530 Wed, 21 May 2025 08:29:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771149 For applying CBDT low-tax-effect circulars, tax effect must be computed only with reference to the disputed additions in the year under appeal, including the reduction of a returned loss or assessment of income for that year. Brought-forward losses from earlier finalised assessment years cannot be added to the computation unless those prior assessments are reopened. On that basis, the tax effect remained below the prescribed monetary threshold, so the Revenue could not pursue the appeal on merits and the challenge was barred by the circular instructions. Case-Laws Income Tax Wed, 07 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771149