https://www.taxtmi.com/caselaws?id=59823 The ITAT dismissed the Revenue's appeal, citing the nil tax effect and the binding nature of CBDT Instruction No. 1979, which precludes appeals with a tax effect below Rs. 1 lakh. The Tribunal upheld the CIT(A)'s allowance of the assessee's deduction for project expenditure. The decision emphasized adherence to CBDT instructions and recognized the assessee's consistent accounting practices, aligning with public policy to minimize unnecessary litigation. en-us Mon, 10 Jul 2006 00:00:00 +0530 Wed, 13 Mar 2024 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59823 The ITAT dismissed the Revenue's appeal, citing the nil tax effect and the binding nature of CBDT Instruction No. 1979, which precludes appeals with a tax effect below Rs. 1 lakh. The Tribunal upheld the CIT(A)'s allowance of the assessee's deduction for project expenditure. The decision emphasized adherence to CBDT instructions and recognized the assessee's consistent accounting practices, aligning with public policy to minimize unnecessary litigation. Case-Laws Income Tax Mon, 10 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59823