Dismissed

Commissioner v. M/S Shriram Chits

Madras HC4 Jun 2019TC/1576/2008

Case brief

AI extract

What is this about?

In a Tax Case Appeal under Section 260-A of the Income Tax Act, 1961, regarding assessment year 2002-03, the bench dismissed the Revenue's appeal. The court followed a precedent where the question was answered against the Revenue, ruling that the Tribunal erred in treating certain payments as bad debt.

What did the court decide?

Tax Case Appeal dismissed and the substantial question of law answered against the Revenue.

Commissioner Vs M/S Shriram Chits — Income Tax | Madras HC (2019)

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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DATED : 04.06.2019

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CORAM :

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THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAM and

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THE HONOURABLE MRS.JUSTICE V.BHAVANI SUBBAROYAN

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Tax Case Appeal No. 1576 of 2008

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Commissioner of Income Tax, Chennai

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...Appellant
-vs-

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M/s.Shriram Chits Tamil Nadu Pvt. Ltd.,

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149, Greams Road, Chennai – 6.

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...Respondent

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Tax Case Appeal under Section 260-A of the Income Tax Act, 1961, is directed against the order passed by the Income Tax Appellate Tribunal “C” Bench, Chennai in I.T.A No.973/Mds/2006, dated 19.10.2007 for the assessment year 2002-03.

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For appellant : Mr.T.R.Senthil Kumar, assisted by Mrs.K.G.Usha Rani For respondent : Mr.R.Sivaraman

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http://www.judis.nic.in

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JUDGEMENT

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[Judgement of the Court was made by T.S.Sivagnanam, J.]

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This tax case appeal filed by the Revenue under Section 260A

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of the Income Tax Act, 1961, ('the Act' for brevity) is directed against the order passed by the Income Tax Appellate Tribunal “C” Bench, Chennai in I.T.A No.973/Mds/2006, dated 19.10.2007 for the assessment year 2002-03.

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The above Tax Case Appeal has been admitted on 08.07.2008 on the following substantial question of law:-

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"Whether on the facts and in the circumstances of the case, the Tribunal was right in treating the payments due from defaulting subscribers as bad debt, when there is no relationship of creditor and debtor between them?”

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3.We have heard Mr.T.R.Senthil Kumar, learned Senior Standing Counsel assisted by Mrs.K.G.Usha Rani, for the appellant/revenue and Mr.R.Sivaraman, learned counsel for the respondent/assessee.

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It is squarely stated by the learned counsel for the Revenue

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http://www.judis.nic.in

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that the above substantial question of law has been answered against the Revenue in the assessee's own case in T.C.A.No.1528 & 1529 of 2005 and 1142 of 2006 dated 22.08.2012 for the assessment year 1995-96.

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Following the same, this Tax Case Appeal is dismissed and
the substantial question of law is answered against the Revenue. No
costs.
(T.S.S., J.) (V.B.S., J.)
04.06.2019
mrm
Index: Yes/No
To
Income Tax Appellate Tribunal “C” Bench, Chennai

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http://www.judis.nic.in

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T.S.Sivagnanam, J. and V.Bhavani Subbaroyan, J.

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mrm

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Tax Case Appeal No. 1576 of 2008
04.06.2019

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http://www.judis.nic.in

Commissioner v. M/S Shriram Chits

Case brief

What is this about?

What did the court decide?

Commissioner v. M/S Shriram Chits

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

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