Principal Commissioner of Income-tax 1, Coimbatore v. R. Elangovan
[Citation -2019-LL-0905-53]
| Citation | 2019-LL-0905-53 |
|---|---|
| Appellant Name | Principal Commissioner of Income-tax 1, Coimbatore |
| Respondent Name | R. Elangovan |
| Court | HIGH COURT OF MADRAS |
| Relevant Act | Income-tax |
| Date of Order | 05/09/2019 |
| Assessment Year | 2013-14 |
| Judgment | View Judgment |
| Keyword Tags | monetary limit • tax effect |
| Bot Summary: | 5.9.19 in T.C.A.653/19 PCIT v. R.Elangovan 2/4 Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is justified in presuming that the cash found at the residence of the assessee belongs to all the seven companies in which he is the director, which is merely a presumption and not based on any evidence or finding which is leading to perversity Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is justified in deleting the addition when the assessee has not reconciled the cash found during the assessment proceedings or during appellate proceedings 2. When the matter is taken up for admission, learned Senior Standing Counsel brought to our notice the Circular instruction issued by the Central Board of Direct Taxes vide Circular No.17/2019 dated 8th August 2019, wherein, it is stipulated that appeals shall not be filed/pursued by the Department before the High Court in cases where the tax effect does not exceed Rs.1,00,00,000/-. In the instant case, the tax effect is said to be less than the monetary limit imposed and therefore, the Appeal filed by the Revenue is dismissed, as withdrawn, keeping open the substantial questions of law for determination in appropriate cases. |