https://www.taxtmi.com/caselaws?id=771148 For CBDT monetary-limit circulars, tax effect is to be computed only on the disputed additions or reductions relevant to the year under appeal. Where the returned loss is wiped out and assessed income becomes positive, the tax effect is calculated on that year's assessed figures. Brought forward losses from earlier assessment years, if those assessments have attained finality, are not added to the tax effect unless they are themselves directly in dispute. Applying this approach, the appeal fell below the prescribed monetary limit and was not entertainable on the ground of low tax effect. 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=771148 For CBDT monetary-limit circulars, tax effect is to be computed only on the disputed additions or reductions relevant to the year under appeal. Where the returned loss is wiped out and assessed income becomes positive, the tax effect is calculated on that year's assessed figures. Brought forward losses from earlier assessment years, if those assessments have attained finality, are not added to the tax effect unless they are themselves directly in dispute. Applying this approach, the appeal fell below the prescribed monetary limit and was not entertainable on the ground of low tax effect. Case-Laws Income Tax Wed, 07 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771148