SC dismisses 100s of Appeal having tax effect of less than Rs. 1 Crore

CIT Vs M/S C. C. Chokshi And Co. (Supreme Court of India) The Registry has listed these matters on the ground that the tax effect is less than Rs. 1 Crore and, therefore, as per the Circular of the CBDT, these are not pressed by the Income tax Department and are to be dismissed on the ground of low tax effect. In response, the Income Tax Department has handed over the statement which is in three Annexures. Annexure-A gives the list of those cases where the tax effect is above Rs. 1 Crore. Annexure-C mentions certain cases wherein tax effect is less than Rs. 1 Crore, but as per the Department t...