Tc/1544/2008 Of The Director Of Income Tax v. The Shaktapuram Srividya
High Court
22 Mar 2019 In favour of: Assessee
Forum / Bench
High Court · hc_cis_mas
Parties
Tc/1544/2008 Of The Director Of Income Tax v. The Shaktapuram Srividya
Date of order
22 Mar 2019
Assessment year(s)
—
Outcome
Dismissed
Case summary
In Tc/1544/2008 Of The Director Of Income Tax v. The Shaktapuram Srividya, the High Court (2019) dismissed the appeal. The decision went in favour of the assessee.
Issue: For respondent : No appearance J U D G M E N T (Delivered by DR.VINEET KOTHARI,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 'C' Bench, dated 08.02.2008, in ITA No.1754/Mds/2006, by raising...
Decision: In the instant case, the tax effect is said to be less than the monetary limit imposed and, therefore, the Appeal filed by the Revenue is dismissed, as not pressed, keeping open the substantial questions of law for determination in appropriate cases.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
The order — as passed by the High Court
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 22.03.2019
CORAM
THE HON'BLE DR.JUSTICE VINEET KOTHARIANDTHE HON'BLE MR.JUSTICE T.RAVINDRANTax Case Appeal No.1544 of 2008Director of Income Tax (Exemptions),Chennai.Appellant Vs.Shaktapuram Srividya Peeta Seva TrustRespondent Appeal under Section 260-A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal, Chennai 'C' Bench, dated 08.02.2008, made in ITA No.1754/Mds/2006.For Appellant : Mr.M.Narayanaswamy, Senior Standing Counsel. For respondent : No appearance
J U D G M E N T
(Delivered by DR.VINEET KOTHARI,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 'C' Bench, dated 08.02.2008, in ITA No.1754/Mds/2006, by raising the following substantial questions of law :
http://www.judis.nic.in
" (1) Whether in the facts and circumstances of the case, the Tribunal was right in holding that the option exercised to spend money u/s.11 (1) (2) along with the belated return filed on 11-07-2002 is proper and allowable ?
(2) Whether in the facts and circumstances of the
case, the Tribunal was right in holding that shortfall in application of income of Rs.22.4 lakhs is not liable to be
taxed ?2. When the matter is taken up for hearing, learned Standing Counsel for the Department brought to our notice the Circular instruction issued by the Central Board of Direct Taxes vide Circular No.3/2018, dated 11.7.2018, wherein, it is stipulated that appeals shall not be filed/pursued by the Department before the High Court in cases where the tax effect does not exceed Rs.50.00 lakhs.
3. In the instant case, the tax effect is said to be less than the monetary limit imposed and, therefore, the Appeal filed by the Revenue is dismissed, as not pressed, keeping open the substantial questions of law for
determination in appropriate cases. No costs.
Index: Yes/NoInternet: Yes/Nodixit
(V.K.,J.) (T.R.N.,J.) 22.03.2019
To
The Income Tax Appellate Tribunal, Chennai 'C' Bench, Chennai.
DR.VINEET KOTHARI, J.and T.RAVINDRAN, J.
dixit
TCA No.1544 OF 2008
22.03.2019
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