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ITAT Dismisses Revenue Appeal as Education Cess Exclusion Reduced Tax Effect Below ₹60 Lakh
Case Law Details
- Case Name
- ITO Vs Rainbow Diamonds Pvt. Ltd. (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Delhi
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ITO Vs Rainbow Diamonds Pvt. Ltd. (ITAT Delhi)
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, dismissed the Revenue’s appeal for Assessment Year 2017-18 on the ground of low tax effect under CBDT Circular No. 09/2024 | Dated: 17th September, 2024 The appeal arose from an order of the Commissioner of Income Tax (Appeals), NFAC, which had deleted an addition of Rs.79.75 lakh made by the Assessing Officer.
Before the Tribunal, the assessee submitted that the actual tax effect in the matter was below the monetary threshold limit of Rs.60 lakh prescribed for filing a...
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