Commissioner of Income-tax, Chennai v. Soundararajan & Co
[Citation -2019-LL-0905-62]

Citation 2019-LL-0905-62
Appellant Name Commissioner of Income-tax, Chennai
Respondent Name Soundararajan & Co.
Court HIGH COURT OF MADRAS
Relevant Act Income-tax
Date of Order 05/09/2019
Assessment Year 1997-98
Judgment View Judgment
Keyword Tags deduct tax at source • monetary limit • tax effect • interest on loan
Bot Summary: Dt.5.9.19 in T.C.166 167/2007 CIT v. Soundararajan Co. 2/4 1997-1998 and 1999-2000, by raising the following substantial question of law: Whether on the facts and circumstances of the case, the Tribunal was right in holding that the assessee is not liable to deduct tax at source on interest payments in respect of loans taken 2. When the matters are taken up for hearing, 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 cases, the tax effect is said to be less than the monetary limit imposed and therefore, the Appeals filed by the Revenue are dismissed, as withdrawn, keeping open the substantial question of law for determination in appropriate cases.


Judgt. dt.5.9.19 in T.C.166 & 167/2007 CIT v. Soundararajan & Co. 1/4 IN HIGH COURT OF JUDICATURE AT MADRAS DATED: 5.9.2019 CORAM HON'BLE DR.JUSTICE VINEET KOTHARI AND HON'BLE MR.JUSTICE C.SARAVANAN Tax Case No.166 & 167 of 2007 Commissioner of Income Tax Chennai. Appellant Vs. M/s.Soundararajan & Co. 121, Tank Bund Road, Nungambakkam, Chennai 600 034. Respondent Tax Cases filed under Section 260A of Income Tax Act, 1961 against order of Income Tax Appellate Tribunal, 'B' Bench, Chennai, dated 10.3.2006 made in ITA Nos.931/Mds/2001 and 932/Mds/2001. For Appellant : Mr.Karthik Ranganathan Senior Standing Counsel assisted by Mr.Rajesh, Jr. Standing Counsel For Respondent : Mr.N.V.Balaji COMMON JUDGMENT (Delivered by DR.VINEET KOTHARI,J) These Tax Cases have been filed by Revenue, calling in question correctness of order passed by Income Tax Appellate Tribunal, 'B' Bench, Chennai, 10.3.2006 made in ITA Nos.931/Mds/2001 and 932/Mds/2001, for Assessment Years http://www.judis.nic.in Judgt. dt.5.9.19 in T.C.166 & 167/2007 CIT v. Soundararajan & Co. 2/4 1997-1998 and 1999-2000, by raising following substantial question of law: "Whether on facts and circumstances of case, Tribunal was right in holding that assessee is not liable to deduct tax at source on interest payments in respect of loans taken?" 2. When matters are taken up for hearing, learned Senior Standing Counsel brought to our notice Circular instruction issued by 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 Department before High Court in cases where tax effect does not exceed Rs.1,00,00,000/- (Rupees One Crore). 3. In instant cases, tax effect is said to be less than monetary limit imposed and therefore, Appeals filed by Revenue are dismissed, as withdrawn, keeping open substantial question of law for determination in appropriate cases. No costs. (V.K.,J.) (C.S.N.,J.) 5.9.2019 Index : Yes/No Internet : Yes/No ssk. http://www.judis.nic.in Judgt. dt.5.9.19 in T.C.166 & 167/2007 CIT v. Soundararajan & Co. 3/4 To 1. Commissioner of Income Tax Chennai. 2. Income Tax Appellate Tribunal, 'B' Bench, Chennai. 3. M/s.Soundararajan & Co. 121, Tank Bund Road, Nungambakkam, Chennai 600 034. 4. Income Tax Officer (TDS-IV) Chennai. http://www.judis.nic.in Judgt. dt.5.9.19 in T.C.166 & 167/2007 CIT v. Soundararajan & Co. 4/4 DR.VINEET KOTHARI, J. and C.SARAVANAN, J. ssk. Tax Case Nos.166 & 167 of 2007 5.9.2019. http://www.judis.nic.in Commissioner of Income-tax, Chennai v. Soundararajan & Co
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