The Commissioner of Income Tax-II, Chennai v. Hansa Vision India Private Limited
[Citation -2020-LL-0316-22]
| Citation | 2020-LL-0316-22 |
|---|---|
| Appellant Name | The Commissioner of Income Tax-II, Chennai |
| Respondent Name | Hansa Vision India Private Limited |
| Court | HIGH COURT OF MADRAS |
| Relevant Act | Income-tax |
| Date of Order | 16/03/2020 |
| Judgment | View Judgment |
| Keyword Tags | monetary limit • tax effect |
| Bot Summary: | In Order in TCA Nos.226 227 of 2017 dated 16.03.2020 Tribunal, 'A' Bench, Chennai, by raising the following substantial question of law: Whether on the facts and circumstances of the case, the Appellate Tribunal is correct in law in holding that the investments made by the assessee in its sister concerns are not liable for disallowance u/s 14A, when the provisions of the said section as well as Rule 8D of the Income Tax Rules, 1962, does not provide for such exemption 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 cases, 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. |