Commissioner Of Income Tax v. M/S. Ych Logistics India

In the High Court of Judicature at Madras Dated : 24.10.2018 Coram :

The Honourable Mr.Justice T.S.SIVAGNANAM and The Honourable Mrs.Justice V.BHAVANI SUBBAROYAN Tax Case Appeal No.1134 of 2015 The Commissioner of Income Tax, Corporate Circle 3(2), Chennai ...Appellant Vs M/s.YCH Logistics India Pvt. Ltd., Sirumangadu Village, Kanchipuram District-602105.

...Respondent

APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 26.6.2015 in ITA No.533/Mds/2015 on the file of the Income Tax Appellate Tribunal Chennai 'D' Bench for the assessment year 2010-11. against the Order dated 31.03.2014 of the Deputy commissioner of Income Tax, Company Circle III (3) against the Assessment Order dated 14.01.2015 in PANAAACY2873L for the Assessment Year 2010-11.

For Appellant :

Mr.M.Swaminathan & Mrs.V.Pushpa For Respondent :

Mr.K.Ravi & Mr.C.V.Shyam Sundar 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.

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.

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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 In the light of the above, the appeal is dismissed as withdrawn and the substantial questions of law framed are left open.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. No costs.

Sd/- Assistant Registrar(CS-V) //True Copy// Sub Assistant Registrar To 1.The Income Tax Appellate Tribunal, Chennai 'D' Bench.

2.Deputy Commissioner of Income Tax, Company Circle III (3), 4th Floor Ayyakar Bhavan, Chennai.

3.Deputy Commissioner of Income Tax, Corporate Circle 3 (2), Chennai.

+1cc to Mr.M.Sivamathan, Advocate, S.R.No. 72740 +1cc to Mr.K.Ravi, Advocate, S.R.No. 73263 TCA.No.1134 of 2015 KAN(CO) GN(26/11/2018) https://hcservices.ecourts.gov.in/hcservices/