The Commissioner of Income-tax-II, Central IV, Chennai v. Indo Asia Energy Private Ltd
[Citation -2020-LL-0317-28]
| Citation | 2020-LL-0317-28 |
|---|---|
| Appellant Name | The Commissioner of Income-tax-II, Central IV, Chennai |
| Respondent Name | Indo Asia Energy Private Ltd. |
| Court | HIGH COURT OF MADRAS |
| Relevant Act | Income-tax |
| Date of Order | 17/03/2020 |
| Judgment | View Judgment |
| Keyword Tags | monetary limit • tax effect • non-deduction of tax at source |
| Bot Summary: | In Order in TCA No.209 of 2016 dated 17.03.2020 Bench, Chennai, by raising the following substantial questions of law: Whether on the facts and circumstances of the case, the Tribunal was right in deleting that Section 40(a)(ia) is applicable only on those amounts 'payable' and not those amounts 'paid' during the year without deducting tax at source And Whether under the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in holding that the amendment in Finance Act, 2010 to Section 40(a)(ia) is applied retrospectively 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 appeal filed by the Revenue is dismissed as not pressed, keeping open the substantial questions of law for determination in an appropriate case. |