The Commissioner of Income-tax, Chennai v. Kesari Sanjay Kundalia
[Citation -2020-LL-0827-28]
| Citation | 2020-LL-0827-28 |
|---|---|
| Appellant Name | The Commissioner of Income-tax, Chennai |
| Respondent Name | Kesari Sanjay Kundalia |
| Court | HIGH COURT OF MADRAS |
| Relevant Act | Income-tax |
| Date of Order | 27/08/2020 |
| Assessment Year | 2014-15 |
| Judgment | View Judgment |
| Keyword Tags | substantial question of law • monetary limit • low tax effect |
| Bot Summary: | This appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 is directed against the order dated 01.01.2019 made in ITA.No. 2115/chny/2019 on the file of the Income Tax Appellate Tribunal, Madras 'B' Bench, for the assessment year 2014-15. Whether the Tribunal was right in deleting the disallowance made under Section 14A of the Income Tax Act read with Rule 8D of the Income Tax Rules 4. 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. It is further submitted that the tax effect in this case is less than the threshold limit. In the light of the said submissions, the above tax case appeal is dismissed on account of the low tax effect. 350 of 2019 mention to this Court to restore the appeal to be heard and decided on merits. |