The Commissioner of Income-tax, Chennai v. S. A. Asokan
[Citation -2020-LL-0220-71]
| Citation | 2020-LL-0220-71 |
|---|---|
| Appellant Name | The Commissioner of Income-tax, Chennai |
| Respondent Name | S. A. Asokan |
| Court | HIGH COURT OF MADRAS |
| Relevant Act | Income-tax |
| Date of Order | 20/02/2020 |
| Judgment | View Judgment |
| Keyword Tags | monetary limit • tax effect |
| Bot Summary: | In Order in TCA No.1155/2010 dated 20.02.2020 1.Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in allowing the claim of deduction under Section 80IB(10) when no completion certificate is issued to the assessee by the Local Authority And 2.Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in holding that the assessee has complied with the requirements of Section 80IB(10) 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. |