Principal Commissioner Of Income Tax vs M/S.Casa Grande Homes Pvt. Ltd
2024 Latest Caselaw 21530 Mad

Madras High Court

Principal Commissioner Of Income Tax vs M/S.Casa Grande Homes Pvt. Ltd on 12 November, 2024

Author: R. Suresh Kumar

Bench: R. Suresh Kumar, C. Saravanan

                                                                                  T.C.A.No.202 of 2024



                                     IN THE HIGH COURT OF JUDICATURE AT MADRAS

                                                      DATED: 12.11.2024

                                                           CORAM :

                                    THE HONOURABLE MR.JUSTICE R. SURESH KUMAR
                                                       AND
                                     THE HONOURABLE MR.JUSTICE C. SARAVANAN

                                                      T.C.A.No.202 of 2024

                     Principal Commissioner of Income Tax - 1
                     Chennai.                                                ..     Appellant

                                                               Vs.

                     M/s.Casa Grande Homes Pvt. Ltd.
                     NPL Devi, New No.111
                     Old No.59, L.B. Road, Tiruvanmiyur
                     Chennai - 600 041.
                     PAN: AAGCC1182Q                                         ..     Respondent

                     Prayer: Appeal filed under Section 260-A of the Income Tax Act,

                     1961, against the order of Income Tax Appellate Tribunal Madras

                     “A” Bench dated 06.07.2022 passed in I.T.A.No.3491/CHNY/2019.

                                  For the Appellant              :    Mr.Karthik Ranganathan
                                                                 Senior Standing Counsel

                                  For the Respondent       :     Mr.A.S.Sriraman

                                                        JUDGMENT

(Order of the Court was made by R.SURESH KUMAR, J.)

The present tax case appeal was admitted on 27.09.2024 on

the following substantial questions of law:-

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

"1. Is not the reasoning and finding of the Tribunal perverse by allowing other expenses claimed amounting to Rs.515,44,310/- holding that the indirect cost cannot be attributed to any specific project especially when Assessee had only one project during the relevant period?

2. Is not the finding of the Tribunal perverse especially when ICDs-III with regard to construction contract is applicable only with effect from AY 2017-18 and not to be present AY which is 2016-17?"

2. It is submitted by the learned Senior Standing Counsel

appearing for the appellant Revenue that this matter is covered

under the Low Tax Effect as per the recent Circular dated

17.09.2024, in Circular No.9/2024.

3. Hence, this appeal stands dismissed, as covered under the

low tax effect and the substantial questions of law raised in this

appeal are kept open to be decided at the later point of time.

There shall be no order as to costs.

                                                               (R.S.K., J.)          (C.S.N, J)
                                                                           12.11.2024

                     Neutral Citation:Yes/No

                     drm

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

R. SURESH KUMAR, J.

AND C. SARAVANAN, J.

(drm)

12.11.2024

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