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Whether when assessee files loss return, Revenue’s appeal is not sustainable on the ground of tax effect being Nil or lower than the monetary limit fixed by the Board ?
Case Law Details
- Case Name
- CIT Vs B D Patel Quarry Works Private Limited (Gujarat High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Gujarat High Court
CIT Vs B D Patel Quarry Works Private Limited (Gujrat High Court)- Appeal filed by the revenue would not be barred by the Board’s circular even if the assessee files a loss in the return on the ground of the tax effect being “Nil” or lower than the monetary limit fixed by the Board and, in such cases, the notional tax effect should be taken into account.
CIT Vs B D Patel Quarry Works Private Limited
High Court of Gujarat
Tax Appeal No. 621 of 2009
Decided on: 30 June 2011
Judgement
Per: Akil Kureshi, J:
Revenue has challenged the judgement of the Tribunal dated 19.09.2008. We had admit...
