Commissioner of Income-tax, Chennai v. G. F. Securities
[Citation -2020-LL-0213-36]
| Citation | 2020-LL-0213-36 |
|---|---|
| Appellant Name | Commissioner of Income-tax, Chennai |
| Respondent Name | G. F. Securities |
| Court | HIGH COURT OF MADRAS |
| Relevant Act | Income-tax |
| Date of Order | 13/02/2020 |
| Judgment | View Judgment |
| Keyword Tags | monetary limit • tax effect • recalling order |
| Bot Summary: | In Order in TC(A) No.909 of 2010 dated 13.02.2020 Bench, Madras, by raising the following substantial question of law: Whether under the facts and in the circumstances of the case, the Appellate Tribunal was justified in recalling its earlier order with a view to pass a fresh order re-adjuciating the issues in dispute on the basis of the Miscellaneous Petition for rectification filed by the Assessee which is beyond the scope of the power conferred on the Tribunal under Section 254(2) of the Income Tax Act' 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 appeal filed by the Revenue is dismissed as not pressed, keeping open the substantial questions of law for determination in an appropriate case. In Order in TC(A) No.909 of 2010 dated 13.02.2020 Copy of this order may be sent to both parties. |