Revenue appeal dismissed as tax effect is below prescribed monetary limit

PCIT Vs Urmila RCP Projects Pvt. Ltd. (Jharkhand High Court) Jharkhand High Court dismissed the tax appeal filed by the revenue on the question of maintainability as the tax effect involved in the matter is much below the monetary limit as enumerated in Circular No. 3/2018, Dated: 11/07/2018 read with Circular No. 17 of 2019. Facts- On 09.01.2015, a review order u/s 263 was passed by CIT, Ranchi in respect of Security Deposit and Retention Money. Thereafter, on 30.03.2016, Re-Assessment Order u/s 143(3) read with section 263 was passed by AO determining total assessed income at Rs.3,67,71,360/...