A.ameerdeen v. Https://Hcservices.ecourts.gov.in/Hcservices

In the High Court of Judicature at Madras The Honourable Mr.Justice T.S.SIVAGNANAM and The Honourable Mr.Justice N.SATHISH KUMAR The Commissioner of Income Tax, Chennai A.Ameerdeen ...Appellant Vs...Respondent APPEAL under Section 260A of the Income Tax Act, 1961against the order dated 04.5.2016 in ITA No.239/Mds/2016 on thefile of the Income Tax Appellate Tribunal Madras 'C' Bench forthe assessment year 2010-11, against the order of theCommissioner of Income Tax(Appeals)-4, Chennai order dated28/12/2015 made in ITA.NO.68/2014-15/A.Y.2010-11/CIT(A)-4 andagainst the order of the Income-Tax Officer, Business Ward-XU(1), Chennai made in PAN.NO. order dated 26/09/2014for the Assessment year 2010-2011. For Appellant : Mr.T.Ravikumar, SSCFor Respondent :Mr.S.Sridhar Judgment was delivered by T.S.SIVAGNANAM,JHeard the learned Standing Counsel for the appellant.2. This appeal by the Revenue challenges the order passed bythe Income Tax Appellate Tribunal, which decided the issue infavour of the assessee. The appeal was admitted on 04.7.2017 onthe following substantial questions of law : “i. Whether the Tribunal erred in lawin deleting the penalty levied under Section271(1)(c) of the Income Tax Act, 1961 in thelight of the explanation given by theassessee of money having been paid to thefirm M/s.Alpha Commercials for purchase ofproperty, which M/s.Alpha Commercials hadnotdone,ignoringthematerialevidence/admission that the assessee was apartner of M/s.Alpha Commercials ? And https://hcservices.ecourts.gov.in/hcservices/ ii. Whether the Tribunal erred in lawin ignoring the involvement of the assesseeas partner in the affairs of M/s.AlphaCommercials, to which, money was given forpurchase of property to claim benefit ofSections 54F/54B of the Act?” 3. The Revenue seeks to withdraw this appeal on account oflow tax effect in terms of Circular No.3 of 2018 dated 11.7.2018issued by the Central Board of Direct Taxes. 4. In the light of the above, the appeal is dismissed aswithdrawn and the substantial questions of law framed are leftopen. In the event the tax effect is above the threshold limitfixed in the said circular under exceptional clauses mentionedin the circular, liberty is granted to the Revenue to make amention to this Court to restore the appeal to be heard anddecided on merits. No costs. Sd/- Assistant Registrar(CS VIII) //True Copy// Sub Assistant RegistrarTo 1.The Income Tax Appellate Tribunal, Madras 'C' Bench. 2.The Commissioner of Income-Tax(Appeals)-4,Room NO.232, 2[nd] floor, Main Building,121, Mahatma Gandhi Road, Chennai-34. 3.The Income-Tax Officer,Business Ward XV(1), Room No.623-B,6[th] floor, Wanapathy Block, Aayakar Bhavan,121, Mahatma Gandhi Road, Chennai-600 034. +1cc to Mr.T.Ravikumar, Advocate sr.no.402+1cc to M/s.R.Hemalatha, Advocate sr.no.288+1cc to M/s.S.Sridhar, Advocate sr.no.359TCA.No.321 of 2017 cp(co)nr 05/02/2019 https://hcservices.ecourts.gov.in/hcservices/