The Commissioner Of Income - Tax - I vs M/S. Golden Refineries (P) Ltd
2021 Latest Caselaw 23143 Mad

                                                                              Tax Case Appeal No.411 of 2009


                                  N THE HIGH COURT OF JUDICATURE AT MADRAS

                                                   DATED : 25.11.2021

                                                         CORAM :

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

                                            Tax Case Appeal No.411 of 2009

                The Commissioner of Income - tax - I,
                Coimbatore.

                ...Appellant

                                                           -vs-

                M/s. Golden Refineries (P) Ltd.,
                Karattupalayam, Mulanur Road,
                Vellakoil, Erode.
                PAN - AABCG1071F
                ...Respondent



                          Tax Case Appeal filed under Section 260A of the Income Tax Act, 1961
                against the order of the Income Tax Appellate Tribunal, “A” Bench Chennai
                dated 13.10.2008 passed in I.T.(SS).A.No.92/Mds/2007.


                                  For Appellant      :     Mr.Karthik Ranganathan,
                                                           Standing Counsel

                                  For Respondent     :     Mr. Niranjan Rajagopal
                                                           for M/s. G.R. Associates
https://www.mhc.tn.gov.in/judis
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                                                                              Tax Case Appeal No.411 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 13.10.2008 passed by the Income Tax Appellate

Tribunal, “A” Bench, Chennai, in I.T.(SS).A.No.92/Mds/2007, relating to the

assessment years 1991-92 to 2001-02.

2. By order dated 22.02.2011, this court admitted the aforesaid tax case

appeal on the following substantial question of law:-

"Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in deleting the penalty under Section 158-BFA(2) of the Income Tax Act. 1961?"

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

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

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Tax Case Appeal No.411 of 2009

before the High Court in case 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.]
                                                                             25.11.2021

                av

                Internet : Yes
                Index : Yes / No

                To

1. The Commissioner of Income Tax - I, Coimbatore.

2. The Income Tax Appellate Tribunal, “A” Bench, Chennai.

3. The Assistant Commissioner of I.T., Central Circle - I, Coimbatore.

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

Tax Case Appeal No.411 of 2009

R. MAHADEVAN, J.

AND MOHAMMED SHAFFIQ, J.

av

Tax Case Appeal No.411 of 2009

25.11.2021

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