Tax Effect less than Prescribed Threshold: Delhi HC directs Income Tax Dept to file for Revival of Appeal [Read Order]

Tax effect being less than prescribed threshold, the Delhi HC directs Income Tax Dept to file for revival of appeal
By Kalyani B. Nair - On December 20, 2023 4:36 pm - 2 mins read
Income Tax Department - Revival of Appeal - Delhi HC - TAXSCAN

The Delhi High Court directed the Income Tax Department to file for revival of appeal as the tax effect was less than prescribed threshold. The issue that arose for consideration before the Tribunal was whether the expenditure amounting to Rs. 9,46,22,358/- incurred in connection with the issue of equity shares to Qualified Institutional Buyers (QIBs),…

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