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Madras High CourtTC/1544/2008withdrawn dismissed

The Director Of Income Tax v. The Shaktapuram Srividya

2019-03-22Honourable Dr Justice Vineet Kothari,Honourable Mr Justice T. Ravindran4 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 22.03.2019

CORAM

THE HON'BLE DR.JUSTICE VINEET KOTHARI AND THE HON'BLE MR.JUSTICE T.RAVINDRAN Tax Case Appeal No.1544 of 2008 Director of Income Tax (Exemptions), Chennai.

Appellant Vs.

Shaktapuram Srividya Peeta Seva Trust Respondent Appeal under Section 260-A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal, Chennai 'C' Bench, dated 08.02.2008, made in ITA No.1754/Mds/2006.

For Appellant : Mr.M.Narayanaswamy, Senior Standing Counsel.

For respondent : No appearance

J U D G M E N T

(Delivered by DR.VINEET KOTHARI,J.) This Tax Case Appeal has been filed by the Revenue, calling in question the correctness of the order passed by the Income Tax Appellate Tribunal, Chennai 'C' Bench, dated 08.02.2008, in ITA No.1754/Mds/2006, by raising the following substantial questions of law :

" (1) Whether in the facts and circumstances of the case, the Tribunal was right in holding that the option exercised to spend money u/s.11 (1) (2) along with the belated return filed on 11-07-2002 is proper and allowable ?

(2) Whether in the facts and circumstances of the case, the Tribunal was right in holding that shortfall in application of income of Rs.22.4 lakhs is not liable to be taxed ?

2. When the matter is taken up for hearing, learned Standing Counsel for the Department brought to our notice the Circular instruction issued by the Central Board of Direct Taxes vide Circular No.3/2018, dated 11.7.2018, wherein, it is stipulated that appeals shall not be filed/pursued by the Department before the High Court in cases where the tax effect does not exceed Rs.50.00 lakhs.

3. In the instant case, the tax effect is said to be less than the monetary limit imposed and, therefore, the Appeal filed by the Revenue is dismissed, as not pressed, keeping open the substantial questions of law for determination in appropriate cases. No costs. (V.K.,J.) (T.R.N.,J.) 22.03.2019 Index : Yes/No Internet : Yes/No dixit

To The Income Tax Appellate Tribunal, Chennai 'C' Bench, Chennai.

DR.VINEET KOTHARI, J.

and T.RAVINDRAN , J.

dixit TCA No.1544 OF 2008 22.03.2019