In the absence of minimum tax effect as per the instruction of the IT appeal disserved to be dismissed
Last updated: 26 March 2012
Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
The tax effect in this case is found to be less than Rs.3 lac, the limit prescribed under Instruction No. 3/2011 dated 09.02.2011 and when Ld.CIT(DR) was apprised of this fact, she could not controvert the same and she was also unable to show that the case of the department falls in any of the exceptions carved out in the said instructions and Ld. Counsel for the assessee Shri Gurjeet Singh, Chartered Accountant submitted a copy of income-tax computation form in respect of assessee, wherein the taxable income has been shown at Rs.8,30,224/- and pleaded for dismissal of the appeal on low tax effect as same is less than the limit prescribed.
Citation :
JCIT, Circle 17(1), New Delhi.(Appellant)Vs. M/s Video Electronics Pvt. Ltd.,E-45, Okhla Industrial Area, Phase II,New Delhi.(PAN/GIR No.AAACV0886C) (Respondent)
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CS Bijoy
Published in Income Tax
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