2015 (7) TMI 439

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....,800/- on account of low gross profit. On the facts and on the circumstances of the case, the CIT(A) has erred in not appreciating the facts that the G.P. of the assessee was 4.98% in the assessment year 2008-09, whereas the same was 18.94% in the preceding year assessment year i.e. 2007-08. The order of the CIT(A) is erroneous and is not tenable on facts and in law. The appellant craves leave to add, alter or amend any/all of the grounds of appeal before or during the course of hearing of the appeal." 3. During the course of hearing, the Learned counsel for the assessee at the very outset stated that the tax effect in this appeal is less than Rs. 4,00,000/-, therefore, the department ought not to have filed this appeal in view of the c....

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....rders or instructions or directions issued under sub-section (1), it shall not be lawful for an assessee, being a party in any appeal or reference, to contend that the income-tax authority has acquiesced in the decision on the disputed issue by not filing an appeal or application for reference in any case. (4) The Appellate Tribunal or Court, hearing such appeal or reference, shall have regard to the orders, instructions or directions issued under sub-section (1) and the circumstances under which such appeal or application for reference was filed or not filed in respect of any case. (5) Every order, instruction or direction which has been issued by the Board fixing monetary limits for filing an appeal or application for reference shall be....