The Commissioner Of Income Tax v. M/S Refex Industries Ltd

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 01.10.2024

CORAM

THE HON'BLE MR.JUSTICE R.SURESH KUMAR AND THE HON'BLE MR.JUSTICE C.SARAVANAN Tax Case Appeal No.470 of 2015 The Commissioner of Income Tax Chennai.

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Appellant Vs.

M/s.Refex Industries Ltd Formerly Refex Refrigerators Ltd No.20, Mooker Nallamuthu Street George Town, Chennai 600 001.

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Respondent ----- Tax Case Appeal filed under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal, Madras 'C' Bench, Chennai, dated 09.09.2014 made in ITA No.972/Mds/2014. For Appellant : Mrs.V.Pushpa Senior Standing Counsel For Respondent : Mr.N.V.Balaji

J U D G M E N T

(Delivered by R.SURESH KUMAR, 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, 'C' Bench, Chennai and the appeal was admitted on the following substantial question of law:

"Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the order passed u/s.263 is not valid?"

2. It is brought to our notice by the learned Standing Counsel for the appellant Revenue that 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 can be disposed of, keeping the substantial question of law raised in this appeal open for adjudication at a later point of time.

3. Recording the said submission, this Tax Case Appeal is dismissed for low tax effect, keeping open the substantial question of law for adjudication at appropriate stage. No costs.

(R.S.K.,J.) (C.S.N.,J.) 01.10.2024 NCS : Yes/No Index : Yes/No KST To The Income Tax Appellate Tribunal 'C' Bench, Chennai.

R.SURESH KUMAR, J.

AND C.SARAVANAN, J.

KST 01.10.2024