PCIT Vs Redington (India) Limited (Madras High Court)

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Last updated: 15 December 2020
Quick Summary
The Madras High Court heard appeals from the Principal Commissioner of Income Tax (PCIT) against Redington (India) Limited concerning the assessment year 2009-10. The core issue was whether the Income Tax Appellate Tribunal (ITAT) correctly treated the transfer of shares by Redington to its wholly-owned subsidiary as a 'gift', potentially overlooking specific provisions of the Income Tax Act. The court considered substantial questions of law related to the application of general versus specific tax provisions in this context.

Court :
Madras High Court

Brief :
These appeals have been filed by the Revenue under Section260A of the Income Tax Act, 1961 (hereinafter referred to as “the Act”)challenging the common order dated 07.07.2014 passed by the Income TaxAppellate Tribunal 'D' Bench, Chennai (for brevity “the Tribunal”) in I.T.A.No.513/Mds/2014 (filed by the assessee) and I.T.A.No.619/Mds/2014 (filed by the Revenue) for the assessment year 2009-10.

Citation :
T.C.A.Nos.590 & 591 of 2019

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3499
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4999
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