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TMI Blog2013 (10) TMI 1038X X X X Extracts X X X X X X X X Extracts X X X X ..... by the appellant-revenue challenging the order dated 11/06/2009 passed by the learned Income Tax Appellate Tribunal in ITA No. 541/Ahd/2006 for assessment year 2002-03 by which the tribunal has dismissed the said appeal preferred by the revenue on the ground of low tax effect. 2. The following substantial questions of law arise to be considered in the present Tax Appeal; (A) "Whether the appell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has dismissed the appeal without entering into the merits on the premise that being the loss declared by the assessee there would be only notional tax effect. It is submitted that appropriate computation loss would be necessary and may have relevance if in subsequent years the assessee declares profits. It is submitted that in the present case the amount involved is in excess of the limit laid dow ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and remand the same to the tribunal to decide the said appeal afresh in accordance with law and on merits. 6. Heard Shri Manish Bhatt, learned Counsel appearing on behalf of the appellant-revenue and considered the impugned order passed by the tribunal. It appears that by the impugned order, the tribunal has dismissed the appeal solely on the ground of low tax effect and on the ground that the am ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onsidered the same / similar substantial question of law, which reads as follows; "Whether the appellate tribunal is right in law and on facts in dismissing the tax appeal of the revenue on the ground of low tax effect, though the notional tax effect exceeded the monetary limit prescribed by the Board ?" 6.2. The aforesaid decision of this Court in Tax Appeal No.1601/2009 has been subsequently c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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