The High Court dismissed the tax appeal by the Revenue because the tax effect did not meet the monetary threshold under the CBDT Circular No. 17/2019. The substantial question of law was left open.
Appeal dismissed due to low tax effect below the threshold limit; question of law left open.
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: 05.01.2021
CORAM :
The Honourable Mr.Justice T.S.SIVAGNANAM
and
The Honourable Ms.Justice R.N.MANJULA
Tax Case Appeal No.556 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: AAACI1806M ...Respondent
APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 25.10.2016 made in ITA.No.937/Mds/2015 on the file of the Income Tax Appellate Tribunal, Madras 'B' Bench, and against the order of the Commissioner of Income Tax (Appeals)6 Chennai 600 034 dated 23.01.2015 in I.T.A. No. 234/CIT(A)6-20142015 and against the order of the Deputy Commissioner of Income Tax, Chennai 600 034 dated 28.03.2014 PAN/GIR No. AAACI1806M for the Assessment year 2008-2009.
For Respondent: Mr.A.S.Sriraman
JUDGMENT (Delivered by T.S.Sivagnanam,J)
We have heard Mr.T.R.Senthil Kumar, learned Senior Standing Counsel for the Appellant – Revenue and Mr.A.S.Sriraman, learned counsel appearing for the respondent.
“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 to M/s.Wipro Finance Ltd. when the assessee is not into the business of real estate?"
s/dAssistant Registrar True Copy Sub-Assistant Registrar hvk To
TCA.No.556 of 2018
MG(CO) SP(01/02/2021)
Principal Commissioner of Income Tax 2
M/s. Indowind Energy Ltd.
T.S. Sivagnanam
R.N. Manjula
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
