2018 (11) TMI 1890

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.... SINGH, ACCOUNTANT MEMBER: This revenue's appeal for A.Y. 2013-14, arises from order of the ld.CIT(A)-I, Surat, dated 22/12/2016, in proceedings under section 143(3) of the Income Tax Act, 1961; in short "the Act". 2. The solitary grievance of the Revenue is that the ld. CIT(A) has not erred deleting the disallowance of deduction u/s.54F of the Rs. 73,94,404/- made by the AO. 3. At the outset, ....

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....x effect by virtue of the relief given by the CIT(A) is less than Rs. 20 lakhs. The instructions have been made applicable with retrospective effect, meaning thereby, these instructions are applicable on pending appeals also. In the present case, "tax effect" on the total income assessed minus the tax that would have been chargeable had such total income been reduced by the amount of income in res....