2018 (9) TMI 1032 - HC - Income Tax

Monetary limit - non maintainability of appeal due to low tax effect - Held that - We are not entering into the controversy regarding the applicability of the circular, since the tax effect involved is ₹ 1,00,640/-. In view of the order of in Commissioner of Income Tax Vs. Dhanalekshmi Bank Ltd., 2015 (8) TMI 474 - SUPREME COURT where the Supreme Court had dismissed the appeal without going into the merits of the appeal due to low tax effect leaving the question of law open, the present appeal is dismissed. It is, however, clarified that dismissal of the appeal shall not be taken to be affirmation of order of the Tribunal on merits

Summary

The High Court dismissed the appeal by the Revenue as the tax effect was &8377; 1,00,640, citing a Supreme Court precedent where appeals with low tax effect were dismissed without considering the merits, leaving the legal issue open for future cases.