The High Court dismissed the Revenue's tax appeal due to low tax effect under CIRD& Circular No.17/2019. The substantial question of law regarding Section 14A of the Income Tax Act is left open, with liberty to restore if the tax effect exceeds the threshold.
Appeal dismissed on account of low tax effect; liberty granted to restore if threshold met.
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.
In the High Court of Judicature at Madras
Dated : 08.7.2020
Coram :
The Honourable Mr.Justice T.S.SIVAGNANAM
and
The Honourable Mrs.Justice V.BHAVANI SUBBAROYAN
Tax Case Appeal No.241 of 2018
The Commissioner of Income Tax, Chennai ...Appellant/Respondent Vs Shriram Ownership Trust, Chennai-17. ...Respondent/Appellant
APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 05.7.2017 made in ITA.No.406/Mds/2017 on the file of the Income Tax Appellate Tribunal, Chennai 'C' Bench for the assessment year 2013-14.
As per order of the Income Tax Appellate Tribunal 'C' Bench, Chennai, Assessment year:2013-2014 & 2014-2015, PAN AAGTS2243H, Date of pronouncement dated 5/7/2017.
As per order of the Commissioner of Income Tax (Appeals)-2, Nungambakkam, Chennai 600 034, PAN No AAGTS2243H, Assessment year, 2013-14 & 2014-2015 dated 23/11/2016 & 28/11/2016.
As per order of the Deputy Commissioner of Income Tax, NonCorporate circle-2,Chennai, PAN/G.I.R.No. AAGTS2243H Assessment year, 2014-15,dated order 27/9/2016.
As per order of the Deputy Commissioner of Income Tax non Corporate circle-2, Chennai, PAN No GIR No AAGTS2243H, Assessment year, 2013-14, date of order 18/12/2015.
For Appellant: Mrs.R.Hemalatha For Respondent: Mr.R.Sivaraman
Judgment was delivered by T.S.Sivagnanam,J
We have heard Mrs.R.Hemalatha, learned Senior Standing Counsel appearing for the appellant – Revenue and Mr.R.Sivaraman, learned counsel for the respondent.
Tax Appellate Tribunal, Chennai 'C' Bench for the assessment year 2013-14.
Sd/Assistant Registrar //True Copy// Sub Assistant Registrar RS
To
1.The Income Tax Appellate Tribunal, Chennai 'C' Bench. 2.The Commissioner of Income Tax (Appeals)-2, Chennai 600 034. 3.The Deputy Commissioner of Income Tax non-Corporate Circle-2, Chennai.
TCA.No.241 of 2018
PP(CO) GS(08/07/2020)
1 issue framed by the court
Whether investment yielding no exempt income should be excluded while computing deduction under Section 14A despite lack of express provision.
1 provisions across 1 enactments
Commissioner of Income Tax, Chennai
Shriram Ownership Trust, Chennai-17
T.S.IVAGNANAM
V.BHAVANI SUBBAROYAN
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
