Ita/267/2005 Of Director Of Income Tax v. M/S Hcl Ltd
High Court
01 Mar 2018 In favour of: Assessee
Forum / Bench
High Court · dhcdb
Parties
Ita/267/2005 Of Director Of Income Tax v. M/S Hcl Ltd
Date of order
01 Mar 2018
Assessment year(s)
1989-90
Outcome
Dismissed
Case summary
In Ita/267/2005 Of Director Of Income Tax v. M/S Hcl Ltd, the High Court (2018) dismissed the appeal. The decision went in favour of the assessee.
Issue: CHAWLA O R D E R% 01.03.2018 For this appeal, the question was framed on 31.10.2007; pertaining to the correct interpretation of agreement between M/s Tolerant Systems Inc. and HCL to the tune of `48,38,314/- for AY 1989-90 and whether the said amount could be included in the taxable income of Toler...
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
The order — as passed by the High Court
$~1
* IN THE HIGH COURT OF DELHI AT NEW DELHI+ ITA 267/2005
CORAM:
HON'BLE MR. JUSTICE S. RAVINDRA BHAT HON'BLE MR. JUSTICE A. K. CHAWLA O R D E R% 01.03.2018
For this appeal, the question was framed on 31.10.2007;
pertaining to the correct interpretation of agreement between
M/s Tolerant Systems Inc. and HCL to the tune of `48,38,314/- for
AY 1989-90 and whether the said amount could be included in the taxable income of Tolerant Systems Inc.
During the pendency of this appeal, Central Board of Direct
Taxation (CBDT) issued Circular no. 21 of 2015 directing that all –appeals where the tax effect was below `20 lacs are pending and matters yet to be filed were not to be contested. Since the tax effect in this case is lower than `20 lacs, the present appeal is not maintainable. Ld. Standing Counsel informs that despite repeated
attempts, no instructions are forthcoming as to the recurring tax effect.
In the circumstances, the ITA 267/2005 is accordingly dismissed as not maintainable.
S. RAVINDRA BHAT, J
MARCH 01, 2018 rc
A. K. CHAWLA, J
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