ITAT Dismisses Appeal Over Low Tax Effect Under 10 Lakhs, Citing Board Circular No. 21/2015; High Court Clarifies Notional Tax Inclusion.

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....Maintainability of appeal - ITAT dismissed the appeal on the ground of low tax effect being less than 10 lakhs - Board Circular No.21/2015 - Determination of tax effect where returned loss is reduced or assessed as income, the tax effect would include notional tax on disputed additions - whether tax effect would include notional tax on disputed additions? - Held Yes - substantial question of law is answered in favour of the revenue - HC....