The Commissioner Of Income Tax v. M/S.Laxmi Jewellery

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 09.10.2018 CORAM :

THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAM AND THE HONOURABLE MRS.JUSTICE V.BHAVANI SUBBAROYAN TAX CASE APPEAL NO.825 OF 2014 The Commissioner of Income Tax, Chennai ...Appellant/Appellant Vs M/s.Laxmi Jewellery, Chennai-79.

...Respondent/Respondent

APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 06.9.2011 in ITA No.2005/Mds/2010 on the file of the Income Tax Appellate Tribunal Chennai 'C' Bench for the assessment year 2007-08. against the order of the Commissioner of Income Tax (Appeals)IV, Chennai dated 30.08.2010 made in ITA.No.351/2009-10/A.III, against the Assistant Commissioner of Income Tax, Business circle XI, II floor, Kannamai Building, Chennai dated 29.12.2009 made in PAN.No.AAAFL 0161F Assessment Year 2007-08 For Appellant :

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

Mr.Sandeep Bagmar 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.

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 In the light of the above, the appeal is dismissed as withdrawn and the substantial questions of law framed are left open.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 https://hcservices.ecourts.gov.in/hcservices/

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 rs To 1.

The Income Tax Appellate Tribunal, Chennai 'C' Bench.

2.

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

3.

The Assistant Commissioner of Income Tax, Business Circle XI, II Floor, Kannammai Building, 611, Anna Salai, Chennai-6.

+2cc to Mr.M.Swaminathan, Advocate, S.R.No.70210, 69429 +1cc to Mr.Sandeep Bagmar, Advocate, S.R.No.69889 TCA.No.825 of 2014 VGII(CO) CS/13/12/2018 https://hcservices.ecourts.gov.in/hcservices/