High Court dismissed the Revenue's Tax Case Appeal without deciding merits due to low tax effect under CBDT Circular No.17/2019, leaving substantial questions of law open.
Tax Case Appeal is dismissed on account of low tax effect.
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 : 07.07.2020
CORAM
THE HON'BLE MR.JUSTICE T.S.SIVAGNANAM &
THE HON'BLE MRS.JUSTICE V.BHAVANI SUBBAROYAN
Tax Case Appeal No.558 of 2018
Principal Commissioner of Income Tax 2 No.121, Mahatma Gandhi Road, Chennai - 600 034. ...Appellant
Vs.
M/s.Indowind Energy Ltd, Kothari Buildings, IV floor, 114, Nungambakkam High Road, Chennai - 600 034. PAN : AAA CI 1806 M ...Respondent
Tax Case Appeal is filed under Section 260A of the Income Tax Act 1961 against the order dated 25.10.2016 made in I.T.A.No.1824/Mds/2015 on the file of the Income Tax Appellate Tribunal, Madras “B” Bench, for the assessment year 2008 - 09 against the order of the Commissioner of Income Tax (Appeals) 6, Nungambakkam, Chennai-34 dated 12.02.15 in GI No/PA No AAAC11506M in ITA No 143/CIT A 6 2008-2009
Against the order of the Commissioner of Income Tax (Appeals) 6, Nungambakkam, Chennai 600034 dated 23.01.2015 GI No/PA No AAAC11806M in ITA No 234/CIT(A) 6/2014-2015
Against the order of the Commissioner of Income Tax Company Circle 11(3) Nungambakkam dated 28.03.2014 in the assessment year 2008-2009 PAN GIR No AAAC11806M.
Against the order of the Assistant Commissioner of Income Tax Company Circle 11(3), Chennai 34 dated 30.12.2008 GI No/PA No AAAC11806M in the Assessment Year 2006-2007.
For Appellant : Mr.Karthik Ranganathan For Respondent : Mr.A.S.Sriraman For Mr.S.Sridhar
Judgment
(Judgment was delivered by T.S.SIVAGNANAM.J)
We have heard Mr.Karthik Ranganathan, learned counsel for the appellant and Mr.A.S.Sriraman, accepting notice for the respondent.
“(i) Whether in the facts and circumstances of the case and in law, the ITAT was correct in allowing the bad debt written off on account of advance made for the purchase of land to M/s.Wipro Finance Ltd. when the assessee is not into the business of real estate? and
(ii) Whether the ITAT was correct in allowing higher claim of depreciation while calculating the book profit under Section 115JB of the Act, when the assessee had not disclosed by way of a note forming part of annual accounts as specified in Circular No.2/89/No.1/17-87-CI-V of the Ministry of Industry?”
circular, liberty is granted to the Revenue to make a mention to this Court to restore the appeal to be heard and decided on merits.
Sd/-
Assistant Registrar(CS III)
//True Copy//
Sub Assistant Registrar
raja
To
1.The Income Tax Appellate Tribunal, “B” Bench, Chennai.
2.The Commissioner of Income Tax (Appeals), Nungambakkam.
3.The Commissioner ofIncome Tax,
Company Circle-II(3),
Nungambakkam, Chennai-34.
Tax Case Appeal No.558 of 2018
MG(CO)
KKV/06/08/2020
1 provisions across 1 enactments
Principal Commissioner of Income Tax
M/s. Indowind Energy Ltd
T.S.Sivagnanam
V.Bhavani Subbaroyan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
