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TMI Blog2021 (2) TMI 646X X X X Extracts X X X X X X X X Extracts X X X X ..... reduced or assessed as income, the tax effect would include notional tax on disputed additions - whether tax effect would include notional tax on disputed additions? - THAT:- From perusal of para 4 of Circular No.21/2015, it is evident that where the returned loss is reduced or assessed as income, the tax effect would include notional tax on disputed additions and the Assessing Authority had made ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... J. NEERALGI, ADV.,) RESPONDENT (BY SMT. R. PRATIBHA, ADV., FOR SRI. S. PARTHASARATHI, ADV.,) JUDGMENT ALOK ARADHE J. This appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the Act for short) has been preferred by the revenue. The subject matter of the appeal pertains to the Assessment year 2009-10. The appeal was admitted by a bench of this Cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s were maintainable before tribunal? . 2. Facts leading to filing of this appeal briefly stated are that the assessee is a co-operative society. The assessee filed the return of income for the Assessment Year 2009-10. The Assessing Authority by an order dated 30.12.2011 made disallowances relating to provision of gold theft, wage reversion and audit fees by holding that same are contingent in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue while inviting the attention of this court to para 4 of the Circular No.21/2015 submitted that where the returned loss is reduced or assessed as income, the tax effect would include notional tax on disputed additions and the Assessing Authority had made disallowances with regard to the provisions of wage reversion to the extent of ₹ 9,84,29,827/- as well as provision for audit frees of &# ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ; 15,37,261/- and the notional tax effect on aforesaid contested issue was more than ₹ 10 Lakhs and therefore, the appeal before the tribunal was maintainable and the same ought to have been adjudicated on merits. For the aforementioned reasons, the substantial question of law is answered in favour of the revenue. However, the aforesaid aspect of the matter has not been appreciated by the tr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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