CBDT Exceptions, monetary limitation of appeal does not apply where information received from the Investigation wing

monetary limitation

Central Board of Direct Tax has issued a circular specifying monetary limit for filing an appeal; however there is an exception to the circular of CDBT in filing appeals, not applicable to cases relating to any information received from the investigation wings of the department.

In case of M/s Elphinstone Paper Box Manufacturing Co. An addition was made to total income of assessee by assessing officer alleging that purchase made from one party is bogus. However on appeal the addition was deleted by the CIT (A) against which revenue preferred an appeal before the ITAT.

Benefits Of eBook

Immersive E-BooksImmersive E-Books

Reading and learning have become a more immersive experience in the era of visually enriched digital e-books.

Portable LibraryPortable Library

Carry an entire library of amazing topics in one device, making reading on-the-go easy as well as hassle-free!

Trend InsightTrend Insight

Up-to-date, relevant content material that makes you familiar with the ongoing trend in the world of law, tax, and startups.