The Income Tax Appeal was dismissed as withdrawn pursuant to Circular No.21 of 2015. The substantial questions of law regarding capital versus revenue expenditure are left open.
Tax Case Appeal dismissed as withdrawn; substantial questions of law left open; no costs.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
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IN THE HIGH COURT OF JUDICATURE AT MADRAS
Dated: 15/6/2016
C O R A M
The Honourable Mr.Justice S.Manikumar and The Honourable Mr.Justice D.Krishnakumar
Tax Case Appeal No.1910 of 2008
The Commissioner of Income Tax Coimbatore.
... Appellant
Vs
Shri.M.Krishnan 137 D.B.Road R.S.puram Coimbatore 2.
... Respondent
Prayer: Appeal filed against the order of the Income Tax Appellate
Tribunal, Madras 'D' Bench, Chennai dated 9/5/2008 in ITA No.2781/Mds/2005.
For appellant : Mr.T.R.Senthil Kumar Senior Standing Counsel for Income Tax. For respondent : No appearance - - - - - -
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J U D G M E N T
(Judgment of the Court was made by S.Manikumar,J)
This Appeal has been filed against the order of the Income Tax Appellate Tribunal, 'D' Bench, Madras, dated 9/5/2008.
are:-
“1. Whether on the facts and in the
circumstances of the case, the Income Tax Tribunal was right in law in holding that the payment of Rs.14.25 lakhs for vacating the premises taken on lease is revenue expenditure, even though the compensation paid by the assessee for getting the premises vacated was capital expenditure?
circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that the interest on loan taken from the Bank
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for purchase of shares to the tune of Rs.8,32,950/- is allowable as Revenue Expenditure is valid?”
Income Tax submitted that the tax implication in the instant appeal is less than the ceiling limit fixed by the Circular bearing No.21 of 2015, dated 10/12/2015. He further submitted that as per the Circular, Tax Case Appeals have been instructed to be withdrawn, subject to the matters covered under the circular.
mvs.
S.MANIKUMAR,J
4
a n d
D.KRISHNAKUMAR,J
mvs.
Tax Case Appeal No.1910 of 2008
15/6/2016
The Commissioner of Income Tax Coimbatore
Shri.M.Krishnan
S.Manikumar
D.Krishnakumar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
