CIT Vs. PARIMALA ENTERPRISES

JUDGEMENT

(1.) THOUGH this appeal is within the monetary limit was preferred by the Revenue as the finding recorded by the Tribunal is contrary to the judgment of this court in the case of CIT v. Bhoopalam Commercial Complex & Industries (P.) Ltd. : (2003) 262 ITR 517.

(2.) THE net tax effect, which is the subject matter of this appeal, is Rs. 2,90,000. In view of Instruction No. 2 of 2005, where the net tax effect is less than Rs. 4 lakhs, appeal is not maintainable. This appeal having been filed after the aforesaid instructions is not maintainable. Notwithstanding the fact that the judgment rendered by the Tribunal is contrary to the judgment of this court, this appeal is dismissed, solely on the ground that the net tax effect being less than the monetary limit prescribed under the aforesaid instruction without going into the merits of the claim.