The Commissioner of Income-tax, Chennai v. Crescent Marine Ventures Ltd
[Citation -2020-LL-0616-22]
Citation | 2020-LL-0616-22 |
---|---|
Appellant Name | The Commissioner of Income-tax, Chennai |
Respondent Name | Crescent Marine Ventures Ltd. |
Court | HIGH COURT OF MADRAS |
Relevant Act | Income-tax |
Date of Order | 16/06/2020 |
Assessment Year | 2003-04 |
Judgment | View Judgment |
Keyword Tags | escaped assessment • reassessment order • monetary limit • low tax effect |
Bot Summary: | Respondent APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 25.5.2015 made in ITA.No. 1110/Mds/2014 on the file of the Income Tax Appellate Tribunal, Chennai 'B' Bench for the assessment year 2003-04. This appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 is directed against the order dated 25.5.2015 made in ITA.No. The appeal has been admitted on 02.11.2015 on the following substantial questions of law : i. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the reassessment order passed is null and void and ii. The learned Senior Standing Counsel for the appellant submits that the above appeal is not pursued by the Revenue on account of the low tax effect in terms of Circular No.17/2019 dated 08.8.2019 issued by the Central Board of Direct Taxes. In the light of the said submissions, the above tax case appeal is dismissed on account of the low tax effect. In the event the tax effect is above the threshold limit fixed in the said circular, liberty is granted to the Revenue to make a mention to this Court to restore the appeal to be heard and decided on merits. |