The Commissioner Of Income Tax v. M/S.Deccan Overseas Exports

In the High Court of Judicature at Madras Dated : 10.10.2018 Coram :

The Honourable Mr.Justice T.S.SIVAGNANAM and The Honourable Mrs.Justice V.BHAVANI SUBBAROYAN Tax Case Appeal No.592 of 2016 The Commissioner of Income Tax, Chennai ...Appellant/Appellant Vs M/s.Deccan Overseas Exports Ltd., Chennai-31

...Respondent/Respondent

APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 22.1.2016 in ITA No.1414/Mds/2013 on the file of the Income Tax Appellate Tribunal Chennai 'B' Bench for the assessment year 2006-07 against the order dated 28.03.2013 in ITA No.659/08-09 on the file of the Commissioner of Income Tax (Appeals)-IX, Chennai-34 for the Assessment Year 2006-07 against the order dated 31.12.2008 in PA/G.I.R No.AAACD1951C on the file of the Assistant Commissioner of Income Tax Company Circle I(4), Chennai for the Assessment Year 2006-07. For Appellant :

Mr.Karthik Ranganathan For Respondent :

Mr.A.S.Sriraman 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 In the light of the above, the appeal is dismissed as withdrawn and the substantial questions of law framed are left open.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 IX) //True Copy// Sub Assistant Registrar To The Income Tax Appellate Tribunal, Chennai 'B' Bench. +1 cc to Mr.S.Sridhar, Advocate Sr.No.69994 +1 cc to Mr.Karthik Ranganathan, Advocate Sr.No.70653 TCA.No.592 of 2016 CSL/19.11.2018 https://hcservices.ecourts.gov.in/hcservices/