Madras High Court
The Commissioner Of Wealth Tax vs M/S. Trichy Everest Automobiles & on 22 November, 2021
T.C. Nos. 1402 to 1405 of 2008
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 22.11.2021
CORAM
THE HON'BLE MR. JUSTICE R. MAHADEVAN
AND
THE HON'BLE MR. JUSTICE MOHAMMED SHAFFIQ
T.C. Nos. 1402 to 1405 of 2008
The Commissioner of Wealth Tax
Tamil Nadu – III, Madras .. Appellant in all Tax Cases
Versus
M/s. Trichy Everest Automobiles &
Agencies Limited (Now Merged with South
India Corporation Agencies Ltd
No. 26, TTK Road
Chennai – 600 018. .. Respondent in all Tax Cases
Appeals filed under Section 27-A of the Wealth Tax Act, 1957 against
the order of the Income-tax Appellate Tribunal “D” Bench, Chennai, dated:
05.09.2003 passed in WTA Nos. 54, 55, 56 & 57/Mds/1993.
For Appellant : Mr.Swaminathan
for all WPs.
For Respondent : Mr.S. Sridhar
for all WPs.
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T.C. Nos. 1402 to 1405 of 2008
COMMON JUDGMENT
(Judgment was delivered by R. MAHADEVAN, J.)
These tax case appeals have been filed by the appellant / Revenue,
challenging the order dated 05.09.2003 passed by the Income Tax Appellate
Tribunal, 'D' Bench, Chennai, in WTA Nos. 55, 56, 57, 58, 59, 60 &
61/Mds/1993, relating to the assessment years 1985-86 and 1986-87.
2.By order dated 04.09.2008, this court admitted the aforesaid tax case
appeals on the following substantial questions of law:
“1. Whether on the facts and in the circumstances
of the case, the Income-tax Appellate Tribunal was right
in holding that the vacant land at Mount Road Madras is
exempted under section 40(3)(vi) of the Finance Act 1983
is valid?
2. Whether on the facts and in the circumstances of
the case, the Income-tax Appellate Tribunal was right in
deleting the penalty under Section 18(1)(a) and 18(1)(c)
of the Wealth Tax Act, 1957?”
3.When the matters were taken up for consideration, the learned
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T.C. Nos. 1402 to 1405 of 2008
counsel for the appellant / Revenue brought to the notice of this court the
Circular No.17/2019 dated 08.08.2019 issued by the Central Board Direct
Taxes, wherein, it is stipulated that appeals 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 these appeals are less than the threshold limit.
4.In the light of the aforesaid submissions made by the learned counsel
for the appellant / Revenue, the present appeals, wherein, the tax effect is
said to be less than the monetary limit imposed, are dismissed as withdrawn,
keeping open the substantial questions of law for determination in
appropriate cases. No costs.
(R.M.D., J.) (M.S.Q., J.)
22.11.2021
dhk
Internet : Yes
Index : Yes/No
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T.C. Nos. 1402 to 1405 of 2008
R. MAHADEVAN, J.
and
MOHAMMED SHAFFIQ, J.
dhk
To
1. The Commissioner of Wealth Tax
Tamil Nadu – III, Madras
2. The Income-tax Appellate Tribunal “D” Bench,
Chennai.
3. The Assistant Commissioner of Income Tax,
Central Circle – II (5), Madras – 34.
T.C. Nos. 1402 to 1405 of 2008
22.11.2021
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