An order was passed by the Principal Commissioner under section 263. Pursuant to said order, the Assessing Officer passed a notice giving effect to such order and raised a demand of Rs. 1.03 crores. Revenue filed an appeal against said order passed by the Principal Commissioner and invoked para 3.1(f) of Circular No. 5\/2024 to contend that appeals arising from section 263 orders fell within an exception. It was noted that in a case similar to the assessee, the Tribunal held that in certain cases where tax effect could not be quantified, like under Sections 10(23C), 12\/A\/12AA\/12AB or an order passed under section 263, an appeal would not be maintainable. Court held that, in view of\u00a0 CBDT Circular No. 5\/2024, dated 15-03-2024 and Circular No. 9\/2024, dated 17-09-2024, a revenue appeal arising from an order under section 263 was not maintainable if the tax effect quantified in consequential proceedings was below Rs. 2 crores<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 268A : Appeal-Instructions-Circulars-Monetary limits-Commissioner-Revision of orders prejudicial to revenue-Appeal of revenue was dismissed. [S. 260A, 263] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-65395","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-h0L","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=65395"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65395\/revisions"}],"predecessor-version":[{"id":65396,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65395\/revisions\/65396"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=65395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=65395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=65395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}