Questions referred by the Revenue regarding tax implications under Sections 143(1)(a) and 115(J) were declined due to tax effect being below the prescribed monetary limit of Rs. 2 lakhs ordered closure of referred case miscellaneous petitions closed without costs
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HON'BLE SRI JUSTICE G.CHANDRAIAH &
HON’BLE SRI JUSTICE CHALLA KODANDA RAM
Referred Case No. 112 of 2000
O R D E R:- (per Hon’ble Sri Justice Challa Kodanda Ram)
At the instance of the Revenue, the following questions of law said to be arising out of the order of the Tribunal dated 30.04.1998 in I.T.A. Nos.1023/Hyd/93 for the assessment year 1989-90 are referred for the opinion of this Court.
During the course of arguments, we have noticed that the tax implication in this case is about Rs.1,86,414/-.
In the light of the Instruction No. 1979, dated 27.03.2000 issued by the Central Board of Direct Taxes wherein revised monetary limits of the tax effect have been prescribed, we decline to answer the proposed questions of law inasmuch as the tax effect in the present
case is below the monetary limit of Rs.2.00 lakhs. Accordingly, the Referred Case is closed. No order
as to costs.
As a sequel to the closure of the case, Miscellaneous Petitions, if any pending in this Referred Case, shall stand closed.
G. CHANDRAIAH, J 23.01.2014
______________________ CHALLA KODANDA RAM,J
bcj
2 issues framed by the court
Whether the Income Tax Appellate Tribunal was correct in deducting additional tax under Section 143(1A) when loss was reduced after adjustment under Section 143(1)?
Whether there was no change in total income when special provisions under Section 115(J) were applied despite adjustment under Section 143(1)(a)?
3 provisions across 3 enactments
Revenue
G. CHANDRAIAH
CHALLA KODANDA RAM
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
