Commissioner Of Income Tax ... vs M/S.Sri Ramachandra Educational ...
2021 Latest Caselaw 24536 Mad

                                                                              T.C.A.No.1024 of 2009


                                  IN THE HIGH COURT OF JUDICATURE AT MADRAS

                                                DATED : 13.12.2021

                                                     CORAM :

                                   THE HON'BLE MR. JUSTICE R. MAHADEVAN
                                                       AND
                              THE HON'BLE MR. JUSTICE MOHAMMED SHAFFIQ

                                                T.C.A.No.1024 of 2009


                Commissioner of Income Tax Central I,
                Chennai.                                                    ... Appellant
                                                 Versus


                M/s.Sri Ramachandra Educational and
                Health Trust,
                25 Sir C.V.Raman Road,
                Alwarpet, Chennai 600 018.
                                                                            ... Respondent

                          Appeal preferred under Section 260A of the Income Tax Act, 1961,
                against the order of the Income Tax Appellate Tribunal, Chennai, “C” Bench,
                dated 03.12.2008 in I.TA.No.398/Mds/2008.


                For Appellant               :      Mr.J.Narayanaswamy

                For Respondent              :      Mr.R.Sivaraman




https://www.mhc.tn.gov.in/judis
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                                                                                       T.C.A.No.1024 of 2009


                                                  JUDGMENT

(Judgment was delivered by R.MAHADEVAN, J.)

This tax case appeal has been filed by the appellant / Revenue,

challenging the order dated 03.12.2008 passed by the Income Tax Appellate

Tribunal, Chennai 'C' Bench, in I.T.A.No.398/Mds/2008, relating to the

assessment year 2004-05.

2.By order dated 27.10.2009, this court admitted the aforesaid tax case

appeal on the following substantial question of law:

“Whether on the facts and circumstances of the case, the appellate Tribunal is right in holding that the assessee trust was prevented by circumstances beyond its control from withdrawing the deposit of Rs.50 lakhs from Egmore Benefit Fund Society Ltd., and investing the same in the modes prescribed under Section 11(5) of the Income Tax Act before the commencement of the relevant previous year and in deleting the addition of Rs.50 lakhs made by the assessing officer on that ground?"

3.When the matter was taken up for consideration, the learned counsel

for the appellant / Revenue brought to the notice of this court the Circular

https://www.mhc.tn.gov.in/judis

T.C.A.No.1024 of 2009

No.17/2019 dated 08.08.2019 issued by the Central Board Direct Taxes,

wherein, it is stipulated that appeal shall not be filed/pursued by the Department

before the High Court in cases where the tax effect does not exceed

Rs.1,00,00,000/- (Rupees One Crore). It is also submitted that the tax effect in

this appeal is less than the threshold limit.

4.In the light of the aforesaid submissions made by the learned counsel

for the appellant / Revenue, the present appeal, wherein, the tax effect is said to

be less than the monetary limit imposed, is dismissed as withdrawn, keeping

open the substantial question of law for determination in an appropriate case.

No costs.

(R.M.D., J.) (M.S.Q., J.) 13.12.2021 av

Internet : Yes Index : Yes / No

https://www.mhc.tn.gov.in/judis

T.C.A.No.1024 of 2009

R. MAHADEVAN, J.

and MOHAMMED SHAFFIQ, J.

av

To

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

2. Commissioner of Income Tax Central I, Chennai.

T.C.A.No.1024 of 2009

13.12.2021 (1/2)

https://www.mhc.tn.gov.in/judis