The Commissioner Of Income Tax v. Shri Lalith Kumar S Mehta

In the High Court of Judicature at Madras Dated : 26.10.2018 Coram :

The Honourable Mr.Justice T.S.SIVAGNANAM and The Honourable Mrs.Justice V.BHAVANI SUBBAROYAN Tax Case Appeal No.49 of 2013 The Commissioner of Income Tax, Chennai ...Appellant Vs Shri Lalith Kumar S.Mehta

...Respondent

APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 31.5.2012 in ITA No.1975/Mds/2010 on the file of the Income Tax Appellate Tribunal Chennai 'D' Bench for the assessment year 2007-08 as against the order dated 15.08.2010 made in ITA.NO.87/09-10 on the file of the Commissioner of Income Tax (Appeals)-IX, 121, Mahatma Gandhi Road, Chennai 600 034, against the order dated 30.12.2009 passed by the Additional Commissioner of Income Tax, Business RangeVIII, Chennai-6 in PAN/GIR No.AAUPS6310B for the Assessment year 2007-08.

For Appellant :

Mr.M.Swaminathan For Respondent:

Mr.G.Baskar & Mr.M.P.Senthilkumar 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 In the light of the above, the appeal is dismissed as withdrawn and the substantial questions of law framed are left open.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., Chennai.

2. The Commissioner of Income Tax (Appeals) -IX 121, Mahatma Gandhi Road, Chennai-34.

3. The Additional Commissioner of Income Tax Business Range-VIII, 1st Floor Kannammai Buld., 611, Anna Salai, Chennai-6.

+ 1 cc to Mr.M. Swaminathan, Advocate Sr.74219 + 1 cc to Mr. N. Muthukumar, Advocate Sr.73222 TCA.No.49 of 2013 SPD(CO) EU(27/11/2018) https://hcservices.ecourts.gov.in/hcservices/