2011 (5) TMI 146

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....spondent: Mr.Vishal Mohan, Advocate   Deepak Gupta, J.(Oral)   This appeal was admitted on the following substantial question of law:-   "Whether the Ld.Tribunal was right in law in not considering the CIT's main ground for order u/s 263 regarding the Assessing Officer's failure to invoke the mandatory provisions of sub-sections (8) and (10) of section 801A and not giving its fin....

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....is definitely much less than Rs.4 lacs. Reliance has been placed by Sh.Vishal Mohan, Advocate on circular No.279/126/98-IT dated March 27, 2000 issued by the Central Board of Direct Taxes.   On the other hand, Sh.Vinay Kuthiala, learned counsel for the appellantrevenue submits that clause-3 of the instructions states that where a case involves a substantial question of law of importance or w....

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....covering small amounts but we hasten to add that dismissal of such appeals on the ground that the tax effect is low does not mean that we have given any decision on merits nor have we decided such questions of law. These questions can be decided in appropriate proceedings where the tax effect is more than the limit prescribed in the circular.   The argument of Sh.Kuthiala cannot be accepted ....