Commissioner of Income-tax, Chennai v. Kochar Realtors Pvt. Ltd
[Citation -2020-LL-0605-10]
Citation | 2020-LL-0605-10 |
---|---|
Appellant Name | Commissioner of Income-tax, Chennai |
Respondent Name | Kochar Realtors Pvt. Ltd. |
Court | HIGH COURT OF MADRAS |
Relevant Act | Income-tax |
Date of Order | 05/06/2020 |
Assessment Year | 2006-07 |
Judgment | View Judgment |
Keyword Tags | reassessment proceedings • monetary limit • tax effect |
Bot Summary: | 5.6.2020 in T.C.A.210/2015 CIT v. Kochar Realtors Pvt Ltd 2/4 following substantial questions of law: Whether on the facts and in the circumstances of the case, the Appellate Tribunal was right in cancelling the order passed under Section 263 of the Income tax Act Is not the finding of the Tribunal bad especially when the reassessment proceedings in a particular year are governed by Section 153 of the Income Tax Act and the principle of res judicata cannot be applied to income tax proceedings 2. When the matter is taken up for hearing, learned Senior 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effect does not exceed Rs.1,00,00,000/-. 5.6.2020 in T.C.A.210/2015 CIT v. Kochar Realtors Pvt Ltd 3/4 is dismissed, as withdrawn, keeping open the substantial questions of law for determination in appropriate cases. |