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| The Tax Publishers2020 TaxPub(DT) 4000 (Mad-HC) INCOME TAX ACT, 1961
Section 260A
Circular, instruction was issued by CBDT vide Circular No.17/2019 dated 8-8-2019, wherein it was stipulated that appeals shall not be filed/pursued by Department before the High Court in cases where tax effect does not exceed Rs. 1,00,00,000. Tax effect was said to be less than monetary limit imposed and therefore, Appeal filed by Revenue was dismissed, as withdrawn.
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Appeal (High Court) - Low tax effect - Maintainability of apeal -
Issue arose for consideration as to whether ITAT was right in law in deleting the disallowance made under section 40(a)(ia) in the year under consideration as the statutory provisions are amply clear and in the context of section 40(a)(ia) of the Act, the term 'payable' would include amounts which are paid during the previous year. Held: Circular, instruction was issued by CBDT vide Circular No.17/2019 dated 8-8-2019, wherein it was stipulated that appeals shall not be filed/pursued by Department before the High Court in cases where tax effect does not exceed Rs. 1,00,00,000. Tax effect was said to be less than monetary limit imposed and therefore, appeal filed by Revenue was dismissed, as withdrawn.
Relied:Sudarshan Silks & Sarees v. CIT (2008) 306 ITR 205 (SC) : 2008 TaxPub(DT) 1908 (SC) Ryatar Sahakari Sakkare Karkhane v. Asstt. CIT & Ors. (2016) 67 taxmann.com 283 (Karnataka) : 2016 TaxPub(DT) 1666 (Karn-HC) CIT v. Sikandar Khan N Tunvar (2013) 33 Taxmann.com 133 (Gujarat) : 2013 TaxPub(DT) 1379 (Guj-HC) CIT v. Crescent Export Syndicate & Park International (2013) 216 Taxman 258(Cal) : 2013 TaxPub(DT) 2124 (Cal-HC) Macro Marvel Projects Ltd. v. DCIT 2016 TaxPub(DT) 2382 (Chen-Trib) Asstt. CIT v. Rishti Stock and Shares Pvt. Ltd. ITA No.112/Mum/2012 : 2014 TaxPub(DT) 0459 (Mum-Trib)
REFERRED :
FAVOUR : In assessee's favour
A.Y. : 2005-06
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