2015 (11) TMI 1000

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..... that no appeal has been filed in the case of J.K. Madan(supra) in view of the low tax effect. However on reading of the order passed in the case of J.K. Madan (supra), it appears that the amount in dispute therein was a capital gain computed at ₹ 55.91 lakhs after deducting the indexed cost of acquisition from the sale consideration. Merely stating that the tax effect was low in an earlier .....

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..... M.S. SANKLECHA G.S. KULKARNI, JJ. Mr. Abhay Ahuja, Advocates for the Appellant Mr. Subhash Shetty, Advocate for the Respondent JUDGEMENT 1. This appeal by the Revenue challenges the order dated 4th July 2012 passed by the Income Tax Appellate Tribunal (the 'Tribunal). The impugned order has allowed the claim of the respondent-asessee For exemption under Section 54 of t .....

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..... stating that the tax effect was low in an earlier order resulting in not filing of an appeal across the bar, without the same being specifically put in affidavit or in the appeal memo cannot be accepted. This manner of filing of appeals enables the revenue to pick and choose orders from which appeals are preferred and from which the appeals are not preferred rendering to a naught equal applicatio .....

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