COMMISSIONER OF INCOME TAX vs. M/S.XAVIER BENEFIT FUND LTD.,

T.C.A.No.83 of 2018 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 23.08.2022 CORAM : THE HONOURABLE MR. JUSTICE R. MAHADEVAN AND THE HONOURABLE MR. JUSTICE MOHAMMED SHAFFIQ T.C.A.No.83 of 2018 Commissioner of Income Tax Circle - 1, Nagercoil. ... Appellant

Versus M/s.Xavier Benefit Fund Limited, 1st Floor Popular Building, Mead Street, WCC Road, Nagercoil 629 001, Kanyhakumari District. PAN: AAACX 0259R ... Respondent Appeal preferred under Section 260A of the Income Tax Act, 1961, against the order dated 24.03.2017 passed by the Income Tax Appellate Tribunal, “A” Bench, Chennai, in I.T.A.No.2929/Mds/2016. For Appellant : Mr.M.Swaminathan, Senior Standing Counsel Mrs.V.Pushpa, Standing Counsel Page 1/4 https://www.mhc.tn.gov.in/judis T.C.A.No.83 of 2018 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 24.03.2017 passed by the Income Tax Appellate Tribunal, “A” Bench, Chennai, in I.T.A.No.2929/Mds/2016, relating to the assessment year 2012-13, by raising the following substantial questions of law:- “(i) Whether the Tribunal was right in law in holding that the provisions of Section 40(a)(ia) of the Income Tax Act, are not attracted for non submission of declarations in Form 15G/15H as referred in Section 197A of the Income Tax Act before the Chief Commissioner or Commissioner within the time specified in Section 197A(2) of the Income Tax Act read with rule 29C of the Income Tax Rules? (ii) Whether the Tribunal is correct in law in holding that the provisions of Section 40(a)(ia) are not applicable, when the assessee has made the entire payments during the year itself and nothing is outstanding or yet to pay?" 2.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, Page 2/4 https://www.mhc.tn.gov.in/judis T.C.A.No.83 of 2018 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. 3.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.) (M.S.Q., J.) 23.08.2022

Internet : Yes

Index : Yes / No av Page 3/4 https://www.mhc.tn.gov.in/judis T.C.A.No.83 of 2018 R. MAHADEVAN, J. and MOHAMMED SHAFFIQ, J. av To 1. The Income Tax Appellate Tribunal, “A” Bench, Chennai. 2. The Commissioner of Income Tax, Circle 1, Nagercoil.