Commissioner of Income-tax, Chennai v. Ashok Leyland Ltd
[Citation -2019-LL-1217-79]
| Citation | 2019-LL-1217-79 |
|---|---|
| Appellant Name | Commissioner of Income-tax, Chennai |
| Respondent Name | Ashok Leyland Ltd. |
| Court | HIGH COURT OF MADRAS |
| Relevant Act | Income-tax |
| Date of Order | 17/12/2019 |
| Assessment Year | 1992-93 |
| Judgment | View Judgment |
| Keyword Tags | monetary limit • tax effect • penalty |
| Bot Summary: | Nos.242 and 243 of 2014 CIT vs. M/s.Ashok Leyland Ltd. 2/4 COMMON JUDGMENT This Tax Case Appeal has been filed by the Revenue, calling in question the correctness of the order passed by the Income Tax Appellate Tribunal, 'D' Bench, Chennai, dated 1 March 2012, in I.T.A.Nos. 1917,1918/Mds/2010, for the Assessment Year 1992-93 and 1993-94, by raising the following substantial question of law: Whether on the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in deleting the penalty u/s 271(1)(c) of the Income Tax Act 2. When the matter is 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 case, the tax effect is said to be less than the monetary limit imposed and therefore, the Appeals filed by the Revenue is dismissed, as withdrawn, keeping open the substantial question of law for determination in appropriate cases. |