Involvement of Tax Effect Less than Prescribed Monetary Limit by CBDT for Filing Appeal: ITAT Dismisses Appeal of Revenue [Read Order]

Involvement of Tax Effect - Prescribed Monetary Limit by CBDT - CBDT for Filing Appeal - Filing Appeal - ITAT Dismisses Appeal of Revenue - Appeal of Revenue - taxscan

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) dismissed the appeal filed by the revenue on the ground of the tax effect involved was less than the prescribed monetary limit by the Central Board of Direct Tax (CBDT) for filing the appeal.  Hotch and Kalachand Loungani, the respondent-assessee submitted written submissions before the…

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