Revenue appeal challenging Tribunal's allowance of interest on borrowed capital paid to an associate company for AY 2005-06. Dismissed as low tax effect under CBDT Circular No.9/2024, keeping substantial questions of law open.
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T.C.A.No.360 of 2022
I N THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 11.11.2024
CORAM
THE HON'BLE MR.JUSTICE R.SURESH KUMAR AND THE HON'BLE MR.JUSTICE C.SARAVANAN
Tax Case Appeal No.360 of 2022
Commissioner of Income Tax Chennai.
.... Appellant Vs.
M/s.TCP Limited 10, TCP Sapthagiri Bhavan Karpagamba Nagar Mylapore, Chennai 600 004.
Respondent
Tax Case Appeal filed under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal, 'A' Bench Chennai, dated 09.08.2021 made in I.T.A.No.3358/2019.
For Appellant : Mr.Karthik Ranganathan Senior Standing Counsel For Respondent : No appearance
J U D G M E N T
(Delivered by R.SURESH KUMAR, J.)
This Tax Case Appeal has been filed by the Revenue calling in question
the correctness of the order passed by the Income Tax Appellate Tribunal, Chennai by raising the following substantial question of law:
T.C.A.No.360 of 2022
" Whether the Tribunal was justified in upholding the order of the ITAT for the assessment year 2005-2006 by allowing the interest on borrowed capital which was paid to an Associate Company of the Respondent?"
(R.S.K.,J.) (C.S.N.,J.) 11.11.2024
NCS : Yes/No KST
To
The Income Tax Appellate Tribunal 'A' Bench, Chennai.
T.C.A.No.360 of 2022
R.SURESH KUMAR, J. AND C.SARAVANAN, J.
KST
T.C.A.No.360 of 2022
11.11.2024
1 provisions across 1 enactments
Commissioner of Income Tax Chennai
M/s.TCP Limited
R.Suresh Kumar
C.Saravanan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
