https://www.taxtmi.com/caselaws?id=791945 Low tax effect instructions do not bar an appeal where the record indicates organised tax evasion. The Delhi High Court read clause (h) of the CBDT circular broadly, treating references to bogus capital gains or losses through penny stocks and accommodation entries as illustrative rather than exhaustive. On that approach, allegations of false or fictitious share transactions may fall within the circular's exception. The Tribunal therefore could not dismiss the Revenue's appeal solely on low tax effect without examining the merits, and the matter had to be heard on merits. en-us Mon, 11 May 2026 00:00:00 +0530 Wed, 20 May 2026 08:31:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791945 Low tax effect instructions do not bar an appeal where the record indicates organised tax evasion. The Delhi High Court read clause (h) of the CBDT circular broadly, treating references to bogus capital gains or losses through penny stocks and accommodation entries as illustrative rather than exhaustive. On that approach, allegations of false or fictitious share transactions may fall within the circular's exception. The Tribunal therefore could not dismiss the Revenue's appeal solely on low tax effect without examining the merits, and the matter had to be heard on merits. Case-Laws Income Tax Mon, 11 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791945