COMMISSIONER OF INCOME TAX vs. M/S.SHRIRAM FINANCIAL

T.C.A.No.152 of 2018 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 24.08.2022 CORAM : THE HON'BLE MR. JUSTICE R. MAHADEVAN AND THE HON'BLE MR. JUSTICE MOHAMMED SHAFFIQ T.C.A.No.152 of 2018 The Commissioner of Income Tax, Chennai. ... Appellant Versus M/s.Shriram Financial Products Solution (Chennai) Pvt. Ltd., Greams Dugar, 4th Floor, No.149, Greams Road, Chennai - 600 006.

... Respondent (PAN No.AAPCS 5666 L) Appeal preferred under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal, Madras “B” Bench, dated 29.07.2016 in I.TA.No.733/Mds/2016. For Appellant : Mr.J.Narayanaswamy Senior Standing Counsel For Respondent : Mr.R.Sivaraman J U D G M E N T Page 1/4 https://www.mhc.tn.gov.in/judis T.C.A.No.152 of 2018 (Judgment was delivered by R.MAHADEVAN, J.) This tax case appeal has been filed by the appellant / Revenue, challenging the order dated 29.07.2016 passed by the Income Tax Appellate Tribunal, Madras 'B' Bench in I.T.A.No.733/Mds/2016, relating to the assessment year 2012-13. 2. By order dated 10.04.2018, this court admitted the aforesaid tax case appeal on the following substantial question of law: "Whether the royalty paid by the assessee towards copyright for use of logo is to be treated as revenue expenditure or as capital expenditure?" 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 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. Page 2/4 https://www.mhc.tn.gov.in/judis T.C.A.No.152 of 2018 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the present appeal, wherein, the tax effect is said to be less than the monetary limit imposed, is dismissed as withdrawn, keeping open the substantial question of law for determination in an appropriate case. No costs. (R.M.D., J.) (M.S.Q., J.) 24.08.2022 r n s

Internet : Yes.

Index : Yes / No. Page 3/4 https://www.mhc.tn.gov.in/judis T.C.A.No.152 of 2018 R. MAHADEVAN, J. and MOHAMMED SHAFFIQ, J. r n s To 1.The Income Tax Appellate Tribunal Madras 'B' Bench, Chennai. 2.The Commissioner of Income Tax (Appeals)-15, Chennai. 3.The Deputy Commissioner of Income-tax, Corporate Circle 6(1), Chennai. T.C.A.No.152 of 2018 24.08.2022 Page 4/4 https://www.mhc.tn.gov.in/judis