2017 (9) TMI 738

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....x<br>S. C. Dharmadhikari And A. K. Menon, JJ. Mr. A. R. Malhotra a/w. Mr. N. A. Kazi for the Appellant Mr. S. E. Dastur, Senior Advocate a/w. Mr. Madhur Agarwal for the Respondent ORDER P. C. 1. This Revenue appeal challenges an order passed by the Tribunal on 12th June, 2013. The Revenue has proposed two questions of law and Mr. Malhotra would urge that both are substantial questio....

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....he Revenue can contend before the Tribunal Rule 8D(3) is also relevant for this issue and will have bearing on the same. Equally it will be open for the assessee to urge that said Rule and its subrule cannot be relied upon. Even such contentions are open before the Tribunal for being raised by the parties. 3. Then Mr. Malhotra would submit that the question proposed as question no.4(B) at page ....

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.... submit that the tax effect as far as the above question is concerned would be minimal. The amount in dispute is Rs. 5,91,000/and the tax effect would be much less. Therefore the Revenue&#39;s Circular should be relied upon by this Court to dismiss the appeal. On the other hand Mr. Malhotra would submit that it is the overall impact and tax effect which has to be taken into consideration and one c....