Commissioner of Income-tax, Coimbatore v. The Vengamedu WCS Ltd
[Citation -2020-LL-0212-48]
Citation | 2020-LL-0212-48 |
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Appellant Name | Commissioner of Income-tax, Coimbatore |
Respondent Name | The Vengamedu WCS Ltd. |
Court | HIGH COURT OF MADRAS |
Relevant Act | Income-tax |
Date of Order | 12/02/2020 |
Judgment | View Judgment |
Keyword Tags | monetary limit • tax effect |
Bot Summary: | In Order in TC Nos.132 133 of 2013 dated 12.02.2020 1.Whether under the facts and in the circumstances of the case, the Hon'ble Income Tax Appellate Tribunal was right in in holding that the Assessee society is eligible of availing the benefits of deduction under Section 80P(2)(a)(ii) of the Income Tax Act 2. Whether under the facts and in the circumstances of the case, the Hon'ble Income Tax Appellate Tribunal was right in law in holding that the assessee society is a cottage industry and therefore is eligible for deduction under Section 80(P)(2)(a)(ii) 3. Whether under the facts and in the circumstances of the case, the Hon'ble Income Tax Appellate Tribunal was right in holding that the assessee society has satisfied all the criteria laid down in Board Circular No.722 dated 19.9.1995 for availing benefits under Section 80(P)(2)(a)(ii) 2. When the matter was 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 appeals filed by the Revenue are dismissed as not pressed, keeping open the substantial questions of law for determination in an appropriate case. 12.02.2020 KST Note to Office: Copy of this order may be sent to both parties. |