The Commissioner of Income-tax, Chennai v. Khivraj Motors Pvt. Ltd
[Citation -2020-LL-0130-37]
Citation | 2020-LL-0130-37 |
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Appellant Name | The Commissioner of Income-tax, Chennai |
Respondent Name | Khivraj Motors Pvt. Ltd. |
Court | HIGH COURT OF MADRAS |
Relevant Act | Income-tax |
Date of Order | 30/01/2020 |
Judgment | View Judgment |
Keyword Tags | monetary limit • tax effect |
Bot Summary: | In T.C.(A) No.455 of 2013 Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in restricting the disallowance to Rs.2.00 lakhs as against Rs.32.10 lakhs made under Section 14A of the Income Tax Act, 1961 read with Rule 8D of the Income Tax Rules 2. When the matter is taken up for hearing, the learned 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 not pressed, keeping open the substantial questions of law for determination in an appropriate case. |