COMMISSIONER OF INCOME-TAX Vs. OBEETEE (P.) LTD

JUDGEMENT

(1.) THE present appeal filed under Section 260A of the Income -tax Act, 1961 (hereinafter referred to as 'the Act') was admitted, vide order dated 22 -1 -2001, on the following questions of law which were framed in the memo of appeal: 1. Whether on the facts in the circumstances of the case, the Tribunal that there was an error apparent on the face of the record and application for rectification under Section 154 of the Act was maintainable, is legally justified?

(2.) WHETHER on the facts in the circumstances of the case, the Tribunal has rightly held that the assessee is entitled to get the benefit under Section 80HHC? 2. It may be mentioned here that the appeal under Section 260A of the Act lies on substantial question of law and not on question of law. This Court had not stated that the two questions are substantial questions of law even though the appeal was admitted on those questions of law.

(3.) RELYING upon a Division Bench decision of this Court in the case of CIT v. Rajendra Prasad Sharma 2007 (10) Modern Tax Cases 814, he submits that in view of the circular issued by the Central Board of Direct Taxes, where the tax effect is less than Rs. 4 lakhs or Rs. 5 lakhs, the appeal should not be filed more so when the appeal did not raise any substantial question of law.