Commissioner of Income-tax v. Torrent Leasing & Finance Pvt. Ltd
[Citation -2014-LL-1212-125]
| Citation | 2014-LL-1212-125 |
|---|---|
| Appellant Name | Commissioner of Income-tax |
| Respondent Name | Torrent Leasing & Finance Pvt. Ltd. |
| Court | HIGH COURT OF GUJARAT AT AHMEDABAD |
| Relevant Act | Income-tax |
| Date of Order | 12/12/2014 |
| Assessment Year | 1997-98 |
| Judgment | View Judgment |
| Keyword Tags | substantial question of law • disallowance of interest • low tax effect |
| Bot Summary: | By way of this appeal, the appellant-revenue has challenged the order dated 20.01.2006 passed by the Income-tax Appellate Tribunal, Ahmedabad Bench in ITA No. 369/Ahd/2001 for the assessment year 1997-98. While admitting this appeal on 09.07.2007, this Court has framed the following substantial question of law: Whether the Appellate Tribunal is right in law and on facts in confirming the order passed by the CIT deleting the disallowance of interest of Rs. 3,81,000/- paid on the borrowing for payment of TDS 3. In our view, the amount involved in the present case is a small one and the revenue effect is less than Rs. 1 lakh, and therefore, as per CDBT Instruction No. 1979 dated 27 th March, 2000 and 02 of 2005, the revenue ought not to have come in appeal where the total revenue effect is less than Rs. 1 lakh, and therefore, this appeal is not entertained. The questions are answered in favour of the assessee and against the revenue. This appeal is dismissed on the ground of smallness of amount. |