Revenue appeal challenging certainty of scheme was dismissed under Section 260A due to low tax effect, referencing Central Board of Direct Taxes Circular No.17/2019. Jurisdictional question left open.
Tax case appeal dismissed due to low tax effect. Liberty granted to Revenue 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 : 18.06.2020
Coram :
The Honourable Mr.Justice T.S.SIVAGNANAM
and
The Honourable Mrs.Justice PUSHPA SATHYANARAYANA
Tax Case Appeal No.472 of 2015 and
M.P.No.1 of 2015
Commissioner of Income Tax, Company Circle,
Tirupur. ...Appellant/Respondent
-vs-
Sivaraj Spinning Mills (P) Limited, 86, Mangalam Road,
Karuvampalayam, Tirupur-641 601. PAN: AADCS0681H ...Respondent/Appellant
APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 31.07.2014 made in I.T.A.No.652/Mds/2013 on the file of the Income Tax Appellate Tribunal 'C' Bench, Chennai for the assessment year 2009-10.
Against the Commissioner of Income Tax (Appeals)-II, Coimbatore dated 30.01.2013 made in ITA No.48/11-12 against the Deputy Commissioner of Income Tax Company Circle, Tiruppur, PAN/GIR No.AADCS0681H dated 09.03.2011 for the assessment year 2009-10.
We have heard Mr.T.R.Senthil Kumar, learned Senior Standing Counsel and Ms.K.G.Usha Rani, learned Standing Counsel for the appellant-Revenue and Mr.R.Sivaraman, learned counsel appearing for the respondent-assessee.
the Income Tax Act, 1961 is directed against the order dated 31.07.2014 made in I.T.A.No.652/Mds/2013 on the file of the Income Tax Appellate Tribunal 'C' Bench, Chennai for the assessment year 2009-10.
“Whether on the facts and circumstances of the case, the Tribunal was right in holding that the proceeds realized by the assessee on sale of Certified Emission Reduction Credit, which the assessee had earned on the Clean Development Mechanism in its wind energy operations, is a capital receipt and not taxable?”
Sd/-
Assistant Registrar
//True copy//
Sub Assistant Registrar
To
TCA.No.472 of 2015
nmi (co) rr ii (12/10/2020)
1 provisions across 1 enactments
Commissioner of Income Tax, Company Circle, Tirupur
Sivaraj Spinning Mills (P) Limited
T.S.Sivagnanam
Pushpa Sathyanarayana
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
