Tc/575/2008 Of Commissioner Of Income Tax v. Sundaram Fastners Ltd
High Court
01 Feb 2017 In favour of: Assessee
Forum / Bench
High Court · hc_cis_mas
Parties
Tc/575/2008 Of Commissioner Of Income Tax v. Sundaram Fastners Ltd
Date of order
01 Feb 2017
Assessment year(s)
—
Outcome
Dismissed
Case summary
In Tc/575/2008 Of Commissioner Of Income Tax v. Sundaram Fastners Ltd, the High Court (2017) dismissed the appeal. The decision went in favour of the assessee.
Issue: 234D? ii) Whether on the facts and circumstances of the case no interest can be charged even for the period subsequent to the introduction of Sec.234D merely on the ground that the refund was granted prior to its introduction?" 2.
Decision: In such view of the matter, this appeal is dismissed as not pressed, preserving the substantial questions of law for determination in an appropriate case.
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
DATE : 01.02.2017
CORAM
THE HON'BLE MR.JUSTICE HULUVADI G. RAMESHAND
THE HON'BLE DR.JUSTICE ANITA SUMANTH
T.C.A. NO. 575 OF 2008
Commissioner of Income TaxChennai... Appellant
Sundaram Fastners Ltd.98-A, Dr.Radhakrishnan SalaiMylapore... Respondent
Tax Case Appeal filed under Sec. 260A of the Income Tax Act, 1961 against
the order of the Income Tax Appellate Tribunal, Madras 'C' Bench, Chennai, dated
23.11.2007 in ITA No. 2477/Mds/06.
For Appellant : Mr. J.Narayanaswamy
For Respondent : Mr. P.J.Rishikesh
JUDGMENT
(DELIVERED BY DR.ANITA SUMANTH, J.)
The Tax Case Appeal filed by the Revenue calling in question the
correctness of the order passed by the Income Tax Appellate Tribunal, Madras 'C'
Bench, Chennai, dated 23.11.2007 in ITA No. 2477/Mds/06, has been admitted on 03.07.2008 for consideration of the following substantial questions of law:-
"i) Whether on the facts and circumstances of the case, the Tribunal was right in holding that interest u/s 234D cannot be charged in respect of the refund granted prior to the insertion of Section234D when the regular assessment was completed only subsequent to the insertion of Sec. 234D?
ii) Whether on the facts and circumstances of the case no interest can be charged even for the period subsequent to the introduction of Sec.234D merely on the ground that the refund was granted prior to its introduction?"
2. It is informed that circular instruction issued by the Central Board of
Direct Taxes No.21/2015, dated 10.12.2015 stipulates that appeals shall not be filed/pursued by the Department before the High Court in cases where the tax effect does not exceed Rs.20 lakhs. In the instant case, the tax effect is less than the monetary limit imposed. In such view of the matter, this appeal is dismissed as not pressed, preserving the substantial questions of law for determination in an appropriate case. No cost.
(H.G.R.J.) (A.S.M.J.)
01.02.2017
Index: Yes / NoInternet: Yes / NoGLN
To
The Commissioner of Income TaxChennai.
http://www.judis.nic.in
HULUVADI G. RAMESH, J. AND ANITA SUMANTH, J.
T.C.A.NO.575 OF 2008
01.02.2017
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