ITA Nos. 1225 & 1226/Del/2007 M/s Flora Exports (AYs: 2002-03 & 2003-04)

Parties Involved

Facts Summary

The instant appeals were filed by the revenue against the common order dated 10.01.2007 passed by the CIT(A) Karnal, arising out of the Assessment Order dated 30.09.2004 & 30.01.2006 respectively for A.Ys. 2002-03 & 2003-04 under Section 143(3) of the Income Tax Act, 1961. The learned counsel for the assessee submitted that the tax effect on the amount disputed by the Revenue in the present appeals is below the monetary limit of Rs.60,00,000/-. Hence, the appeal is not maintainable. The learned Departmental Representative accepted this factual position but sought liberty to revive the appeal if the tax effect is found to be more than Rs. 60,00,000/- or if the appeal is covered by any exceptions to the tax effect circular.…

Legal Issues

• 1. Whether the appeal is maintainable given the tax effect on the disputed amount is below Rs.60,00,000/-.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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