Commissioner Of Income Tax-Ltu v. M/S Lakshmi General Finance

In the High Court of Judicature at Madras Dated : 11.10.2018 Coram :

The Honourable Mr.Justice T.S.SIVAGNANAM and The Honourable Mrs.Justice V.BHAVANI SUBBAROYAN Tax Case Appeal Nos.688 & 689 of 2011 The Commissioner of Income Tax, LTU, Chennai ...Appellant Vs M/s.Lakshmi General Finance Ltd., (merged with M/s.Sundaram Finance Ltd.), Chennai-2.

...Respondent

APPEALS under Section 260A of the Income Tax Act, 1961 against the common order dated 15.7.2011 in ITA Nos.1157 and 1159/Mds/2010 on the file of the Income Tax Appellate Tribunal Madras 'A' Bench respectively for the assessment years 1998-99 and 2000-01 against the order dated 22.04.2010 by the Commissioner of Income Tax(Appeals)Ltd Chennai made in I.T.A. 12 and 13/2007-2008, against the order dated 18.12.2006 passed by the Deputy Commissioner of Income Tax, Company Circle VI(4) Chennai, against the order dated 31.03.2006, by the Assistant Commissioner of Income Tax, Company Circle VI(4) Chennai against GIR/PAN No. SV 048/AAACL0502B.

For Appellant : Mr.T.Ravikumar, SSC For Respondent : Mr.R.Venkata Narayanan for M/s.Subbaraya Aiyer Padmanabhan COMMON JUDGMENT (Judgment was delivered by T.S.SIVAGNANAM,J) Heard the learned counsel for the appellant.

2. These appeals by the Revenue challenge the common order passed by the Income Tax Appellate Tribunal, which decided the issue in favour of the assessee.

3. The Revenue seeks to withdraw the appeals 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.

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4. In the light of the above, the appeals are dismissed as withdrawn and the substantial question of law framed is left open. In the event, in each of the cases, 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 appeals to be heard and decided on merits. No costs. s/d- Assistant Registrar(CS VI) True Copy Sub-Assistant Registrar To

1. The Income Tax Appellate Tribunal, Madras 'A' Bench.

2. The Commissioner of Income Tax(Appeals) LTU, Chennai 101.

3. The Deputy Commissioner of Income Tax Company Circle VI(4) Chennai 34.

4. The Assistant Commissioner of Income Tax, Company Circle VI(4), Chennai.

5. The Commissioner of Income Tax LTU Chennai.

6. The Assistant Registrar Income Tax Appellate Tribunal III Floor, Rajaji Bhavan Besant Nagar, Chennai.

+1 CC to M/s. Subbaroya Aiyar Padmanabhan, Advocate sr 71180. +1 CC to Mr.T. Ravikumar, Advocate sr 70843.

TCA.Nos.688 & 689 of 2011 GJII(CO) SP(02/11/2018) https://hcservices.ecourts.gov.in/hcservices/