2008 (7) TMI 540

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..... in the closing balance of the deposits between the amount shown in the balance-sheet and the return of income and statements filed subsequently and addition towards interest which was offered only partly by the assessee. Aggrieved by the additions, the assessee carried the matter on appeal before the Commissioner of Income-tax (Appeals), who having satisfied, deleted the addition due to the diffe .....

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..... on of law : "Whether on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in dismissing the appeal filed by the Revenue without going into the merits of the case on the ground that the tax effect was less than the monetary limit of Rs. 1,00,000 prescribed by the Central Board of Direct Taxes in Instruction No. 1979, dated March 27, 2000, for filing appeal .....

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..... ltry Farm which was offered only partly by the assessee. Aggrieved by the additions, the assessee carried the matter on appeal before the Commissioner of Income-tax (Appeals), who having satisfied, deleted the addition due to the difference between the balance-sheet figure and the figure given in the statement accompanying the return. As far as the interest not fully shown, the Commissioner of Inc .....

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..... tax effect is less than Rs. 1,00,000. The correctness of the said order is now canvassed before this court by framing the above stated question of law. 3. Heard the learned counsel for the Revenue and perused the order of the Tribunal. 4. An issue similar to the issue in this case came up for consideration before a Division Bench of this court in the case of CWT v. S. Annamalai [2002] 258 ITR 67 .....

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..... the case falls within the four exceptions provided in the circular of the Central Board of Direct Taxes in F. No. 279/126/98-IT, dated March 27, 2000. Hence, the appeals deserve to be dismissed as there is no question of law arising out of the order of the Tribunal. The Tribunal's order requires no interference, for the foregoing reasons. The appeals are dismissed. No costs.
Case laws, Decisi .....

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