Commissioner of Income-tax-III, Coimbatore v. Eastman Exports Global
[Citation -2019-LL-0731-188]
| Citation | 2019-LL-0731-188 |
|---|---|
| Appellant Name | Commissioner of Income-tax-III, Coimbatore |
| Respondent Name | Eastman Exports Global |
| Court | HIGH COURT OF MADRAS |
| Relevant Act | Income-tax |
| Date of Order | 31/07/2019 |
| Assessment Year | 2004-05 |
| Judgment | View Judgment |
| Keyword Tags | retrospective amendment • retrospective effect • levy of interest • low tax effect |
| Bot Summary: | Respondent APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 17.4.2009 made in ITA.No. 1509/Mds/2008 on the file of the Income Tax Appellate Tribunal, Madras 'C' Bench for the assessment year 2004-05. For Appellant : Mr.T.R.Senthilkumar, SSC Ms.K.G.Usharani, SC For Respondent: Mr.R.Sivaraman Judgment was delivered by T.S.Sivagnanam,J We have heard Mr.T.R.Senthilkumar, learned Senior Standing Counsel as well as Ms.K.G.Usharani, learned Standing Counsel appearing for the Revenue and Mr.R.Sivaraman, learned counsel appearing for the respondent assessee. This appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961, is directed against the order dated 17.4.2009 made in ITA.No. The above appeal was admitted on 16.11.2009 on the following substantial question of law : Whether, on the facts and circumstances of the case, the Appellate Tribunal was right in law in deleting the levy of interest under Section 234B of the Income Tax Act, as the assessee cannot be made to pay interest based on retrospective amendment to Section 80HHC with retrospective effect from 01.4.1992 by the Taxation Law Amendment Act, 2005 is valid 4. The learned Senior Standing Counsel appearing for the Revenue seeks permission to withdraw this appeal on account of low tax effect. The above tax case appeal is dismissed as withdrawn. |