Commissioner of Income-tax, Chennai v. Sun Metal Factory (I) P. Ltd
[Citation -2019-LL-1216-80]
| Citation | 2019-LL-1216-80 |
|---|---|
| Appellant Name | Commissioner of Income-tax, Chennai |
| Respondent Name | Sun Metal Factory (I) P. Ltd. |
| Court | HIGH COURT OF MADRAS |
| Relevant Act | Income-tax |
| Date of Order | 16/12/2019 |
| Assessment Year | 1990-91, 1991-92, 1992-93, 1993-94, 1994-95, 1995-96, 1996-97, 1997-98, 1998-99, 1999-00, 01/04/2000-03/11/2000 |
| Judgment | View Judgment |
| Keyword Tags | reassessment proceedings • monetary limit • tax effect |
| Bot Summary: | 90, 91/Mds/2007, for the Assessment period 1.4.1990 to 3.11.2000, by raising the following substantial questions of law: 1. Whether on the facts and circumstances of the case, the Tribunal was right in setting aside the directions given by the CIT to initiate reassessment proceedings u/s 148 to assess the bogus advances for the assessment year 1999-2000 2. Whether on the facts and circumstances of the case, the Tribunal was right in setting aside the directions given by the CIT to initiate reassessment proceedings u/s 148 to assess the bogus advances for the assessment year 1999-2000 when the subject matter in appeal stood decided by the order of this Court in W.P.No. In the instant case, 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is said to be less than the monetary limit imposed and therefore, the Appeals filed by the Revenue are dismissed as withdrawn, keeping open the substantial questions of law for determination in appropriate cases. |