Commissioner of Income-tax, Chennai v. K.H. Leather Industries Ltd
[Citation -2020-LL-0706-3]
| Citation | 2020-LL-0706-3 |
|---|---|
| Appellant Name | Commissioner of Income-tax, Chennai |
| Respondent Name | K.H. Leather Industries Ltd. |
| Court | HIGH COURT OF MADRAS |
| Relevant Act | Income-tax |
| Date of Order | 06/07/2020 |
| Judgment | View Judgment |
| Keyword Tags | monetary limit • tax effect |
| Bot Summary: | For Appellant : Mr. Rajesh for Mr.Karthick Ranganathan For respondent : Mr.S.Sridhar JUDGMENT The Court was held by Video Conference, as per the Resolution of the Full Court dated 3 July 2020, by Judges at the respective residence offices and the counsel, staff of the Court appearing from their respective residences. This Tax Case Appeal has been filed by the Revenue, calling in question the correctness of the order passed by the Income Tax Appellate Tribunal, Madras B Bench dated 5.1.2011 in ITA No. 532/Mds/09, by raising the following substantial questions of law: Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in quashing the order of the Commissioner of Income Tax u/s 263 of the Income Tax Act 3. When the matter is taken up for hearing, 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is said to be less than the monetary limit imposed and therefore, the Appeals filed by the Revenue are dismissed as withdrawn, keeping open the substantial questions of law for determination in appropriate cases. |