Madras High Court
Principal Commissioner Of Income ... vs M/S. Sundaram Bnp Paribas Home ... on 11 August, 2022
T.C.A.No.23 of 2019
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 11.08.2022
CORAM :
THE HONOURABLE MR. JUSTICE R. MAHADEVAN
and
THE HONOURABLE MR. JUSTICE J.SATHYA NARAYANA PRASAD
T.C.A.No.23 of 2019
Principal Commissioner of Income Tax – 6
12, M.G. Salai, Nungambakkam,
Chennai – 600 034. ...
Appellant
Versus
M/s. Sundaram BNP Paribas Home Finance Pvt Ltd,
Sundaram Towers, 46, Whites Road,
Chennai – 600 014.
PAN: AADCS4826J ...
Respondent
Appeal preferred under Section 260A of the Income Tax Act, 1961,
against the order dated 06.07.2018 passed by the Income Tax Appellate
Tribunal, “B” Bench, Chennai, in I.T.A.No.3050/Mds/2017.
For Appellant : Mr.J.Narayanasamy
Standing Counsel
Page 1/5
https://www.mhc.tn.gov.in/judis
T.C.A.No.23 of 2019
For Respondent : Mr.R.Venkatanarayanan
for M/s.Subbaraya Aiyar
JUDGMENT
(Judgment of the Court was delivered by R.MAHADEVAN, J.)
This tax case appeal has been filed by the appellant / Revenue,
challenging the order dated 06.07.2018 passed by the Income Tax Appellate
Tribunal, “B” Bench, Chennai, in I.T.A.No.3050/Mds/2017, relating to the
assessment year 2012-13.
2.By order dated 18.01.2019, this court admitted the aforesaid tax case
appeal on the following substantial question of law:
“Whether the Tribunal was right in remitting back to the
Assessing Officer, when the interest receipts and other operating
income were profits derived from eligible business for
computation of deduction under section 36(1) (viii), when interest
earned on investment income cannot be regarded as income
derived from the business?"
3.When the matter was taken up for consideration, the learned counsel for
the appellant / Revenue brought to the notice of this court the Circular
Page 2/5
https://www.mhc.tn.gov.in/judis
T.C.A.No.23 of 2019
No.17/2019 dated 08.08.2019 issued by the Central Board Direct Taxes,
wherein, it is stipulated that appeal shall not be filed/pursued by the Department
before the High Court in cases where the tax effect does not exceed
Rs.1,00,00,000/- (Rupees One Crore). It is also submitted that the tax effect in
this appeal is less than the threshold limit.
4.In the light of the aforesaid submissions made by the learned counsel
for the appellant / Revenue, the present appeal, wherein, the tax effect is said to
be less than the monetary limit imposed, is dismissed as withdrawn, keeping
open the substantial questions of law for determination in an appropriate case.
No costs.
[R.M.D., J.] [J.S.N.P., J.]
11.08.2022
Internet : Yes
Index : Yes / No
av
To
1. The Income Tax Appellate Tribunal,
Page 3/5
https://www.mhc.tn.gov.in/judis
T.C.A.No.23 of 2019
“B” Bench, Chennai.
2.The Principal Commissioner of Income Tax – 6
12, M.G. Salai, Nungambakkam,
Chennai – 600 034.
R. MAHADEVAN, J.
and
J.SATHYA NARAYANA PRASAD, J.
av
3. The Deputy Commissioner of Income Tax,
Corporate Circle 6(2), Aayakar Bhavan,
New Block, 7th Floor, 121, MG Road,
Chennai 600 034.
4. The Commissioner of Income Tax (Appeals)-15,
Chennai.
T.C.A.No.23 of 2019
Page 4/5
https://www.mhc.tn.gov.in/judis
T.C.A.No.23 of 2019
11.08.2022
Page 5/5
https://www.mhc.tn.gov.in/judis
