Tax case appeal by the Revenue against a Tribunal order allowing carry forward of undisclosed depreciation loss. The appeal was dismissed as covered under low tax effect per Circular No.9/2024 dated 17.09.2024, with the substantial 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.
T.C.A.No.46 of 2023
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 15.10.2024
CORAM : THE HONOURABLE MR.JUSTICE R. SURESH KUMAR AND THE HONOURABLE MR.JUSTICE C. SARAVANAN
T.C.A.No.46 of 2023
Commissioner of Income Tax Circle – 1, Namakkal Salem.
.. Appellant
Vs.
P.Madheswaran .. Respondent
Prayer: Appeal filed under Section 260-A of the Income Tax Act, 1961, against the order of Income Tax Appellate Tribunal “C” Bench, Chennai dated 26.08.2022 passed in I.T.A.No.3365/CHNY/2019.
For the Appellant : Mr.Karthik Ranganathan Senior Standing Counsel For the Respondent : Mr.G.Baskar
JUDGMENT
(Order of the Court was made by R.SURESH KUMAR, J.) The present tax case appeal was admitted on 06.02.2023 by
this Court on the following substantial question of law:-
"1. Whether on the facts and circumstances of the
case, the Tribunal was right in allowing the carry forward of depreciation loss that has not been disclosed by the assessee in the Return of Income nor certified by the Chartered Accountant in Form 3CD?"
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T.C.A.No.46 of 2023
appearing for the appellant Revenue that this matter is covered under the Low Tax Effect as per the recent Circular dated 17.09.2024, in Circular No.9/2024.
low tax effect and the substantial question of law arising in this appeal is kept open to be decided at the later point of time. There shall be no order as to costs.
Neutral Citation:Yes/No
drm
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T.C.A.No.46 of 2023
R. SURESH KUMAR, J. AND C. SARAVANAN, J.
(drm)
T.C.A.No.46 of 2023
15.10.2024
Page 3 of 3
1 issue framed by the court
Whether the Tribunal was right in allowing carry forward of depreciation loss not disclosed in the Return of Income nor certified in Form 3CD?
1 provisions across 1 enactments
Commissioner of Income Tax Circle – 1, Namakkal Salem
P.Madheswaran
R. Suresh Kumar
C. Saravanan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
