COMMISSIONER OF INCOME TAX Vs. MANGLAM RICINUS LTD.

JUDGEMENT

(1.) THE Revenue is aggrieved by an order dt. passed by the Income -tax Appellate Tribunal, Delhi Bench "A" ('the Tribunal') in ITA No. 2249/Del/2005 relevant for the asst. yr. 2002 -03.

(2.) THE AO disallowed an amount of Rs. 70,58,000 being interest liability claimed by the assessee. This view was reversed by the Commissioner of Income -tax (Appeals) ['CIT(A)'].

(3.) FEELING aggrieved, the Revenue preferred an appeal before the Tribunal which relied upon the instructions issued by the CBDT, which prescribe that if the tax effect is less than Rs. 1 lakh, no appeal should ordinarily be filed before the Tribunal.