2009 (10) TMI 934

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.... SINGH, JM This appeal is by the revenue against the order of ld. CIT-(A)-II, Bhopal, dated 31.3.2009 for the AY 2005-06 on the ground that the ld. first appellate authority erred in deleting the addition of 6,37,206/- made by the AO by applying the provisions of sec. 154(3) on account of incorrectness and incompleteness of books of account.". 2. During hearing of the appeal, we have heard S....

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....g of ground no.3 (page 2 of the impugned order), there is a mention that the addition of Rs. 3,94,732/- was made by estimating the net profit @5% of the total turnover of Rs. 1,27,44,130/- in place of Rs. 2,42,474/- showed by the assessee, therefore, without going into the merit of the case, we are of the view that since the tax effect is below prescribed monetary limit and also insertion of sec. ....

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....netary limit, as under:- S.No. Authority Monetary limit (In Rs.) 1. ITAT 2,00,000/- 2. Appeal under section 260A before High Court 4,00,000/- 3. Supreme Court 10,00,000/- The Board further clarified the tax effect, which means the difference between the tax on the total income assessed and the tax that would have been chargeable, had such total income been re....