Reference application was rejected as the tax effect was below the threshold contemplated in the Central Board of Direct Taxes’ Circular No. 21/2015 dated December 10, 2015( 2015) 379 ITR 107 ( St.)
CIT v. Shalimar Industries Ltd. (2018) 401 ITR 239 (Cal) (HC)
S. 268A : Appeal– Monetary limits – Circulars are binding on department- Reference application was rejected [ S. 119 ]