The Commissioner Of Income Tax vs Ramaniyam Ganesh
2024 Latest Caselaw 19188 Mad

Madras High Court

The Commissioner Of Income Tax vs Ramaniyam Ganesh on 1 October, 2024

Author: R. Suresh Kumar

Bench: R. Suresh Kumar, C. Saravanan

                                                                                  T.C.A.No.919 of 2015



                                     IN THE HIGH COURT OF JUDICATURE AT MADRAS

                                                      DATED: 01.10.2024

                                                           CORAM :

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

                                                      T.C.A.No.919 of 2015

                     The Commissioner of Income Tax
                     Chennai.                                                ..     Appellant

                                                               Vs.
                     Ramaniyam Ganesh                                        ..     Respondent
                     Prayer: Appeal filed under Section 260A of the Income Tax Act,
                     1961, against the order of the Income Tax Appellate Tribunal,
                     Madras            "D"    Bench,       Chennai    dated       26.08.2011        in
                     I.T.A.No.1887/Mds/2010.


                                  For the Appellant              :    Mr.J.Narayanasamy
                                                                 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 07.12.2015 by

this Court on the following substantial questions of law:-

"1. Whether on the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in holding that the assessee is entitled to the deduction claimed u/s.80IB(10)?

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

2. Whether the finding of the Tribunal relating to eligible profit on account of transfer of partner's land to the firm by applying the provisions u/s.80IA(13) r/w. Section 80IB(10) is proper and relief is to be allowed?

3. Whether the legal fiction in Section 45(3) can be extended to the provisions of Section 80IB(10) and relief granted to the assessee?"

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 Scheme 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 arising 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)
                                                                             01.10.2024

                     Neutral Citation:Yes/No

                     drm

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

R. SURESH KUMAR, J.

AND C. SARAVANAN, J.

(drm)

01.10.2024

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