Commisisoner Of Income v. M/S Sip Industries

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED 09.10.2018

CORAM

THE HON'BLE Mr. JUSTICE T.S.SIVAGNANAM and THE HON'BLE Mrs. JUSTICE V.BHAVANI SUBBAROYAN T.C.(A)No.1805 of 2008 Commissioner of Income Tax, Chennai.

.. Appellant Vs M/s.SIP Industries Ltd., 116, Dr.Radhakrishnan Salai, Mylapore, Chennai - 600 004.

PAN:AAACS65320 .. Respondent Prayer: Appeal filed under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal, Madras 'C' Bench, dated 20.03.2008 in ITA.No.1315(MDS)/2003 for the assessment year 2000-2001.

For Appellant : Mr.T.R.Senthilkumar For Respondent : Mr.A.S.Sriraman

JUDGMENT

[Judgment was delivered by T.S.SIVAGNANAM, J.] Heard the learned counsel for the appellant.

2.This appeal by the Revenue challenges the order passed by the Income Tax Appellate Tribunal, which decided the issue in favour of the assessee.

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T.S.SIVAGNANAM,J AND V.BHAVANI SUBBAROYAN,J Sgl 3.The Revenue seeks to withdraw the appeal on account of low tax effect in terms of Circular No.3 of 2018 dated 11.7.2018 issued by the Central Board of Direct Taxes.

4. In the light of the above, the appeal is dismissed as withdrawn and the substantial questions of law framed are left open. In the event the tax effect is above the threshold limit fixed in the said circular, liberty is granted to the Revenue to make a mention to this Court to restore the appeal to be heard and decided on merits. (T.S.S.J.) (V.B.S.J.) 09.10.2018 Speaking (or) Non Speaking Order Index : Yes (or) No Internet : Yes (or) No Sgl To The Income Tax Appellate Tribunal, Chennai 'C' Bench.

TCA.No.1805 of 2008 http://www.judis.nic.in