C. Whether Under The Facts And Circumstances Ofthe Case, The Income Tax Appellate Tribunal Wascorrect In Holding That The Case Of The Appellantis Covered By The v. T.c.a

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 04.06.2020 CORAM THE HON'BLE DR.JUSTICE VINEET KOTHARIANDTHE HON'BLE MR.JUSTICE R.SURESH KUMAR Tax Case (Appeal) Nos.329 & 330 of 2012 The Commissioner of Income Coimbatore.... Appellant in both appealsVs. M/s.Sree Annapoorna GowrishankarEstates of consturctions Pvt., Ltd.,not appearing in person or by an Advocate.117, West Bashyakarulu Road, R.S.Puram,Coimbatore-641 002. .. Respondent in both appeals Tax Case Appeals filed under Section 260A of the IncomeTax Act, 1961 against the common order of the Income TaxAppellate Tribunal 'B' Bench, Chennai dated 16.03.2012 inITA Nos.1721 & 1776/Mds/2011, as against the order dt-1/8/11 passed by the commissioner of Income Tax(Appeals)inITA.178/10-11, for the assessment year 2007-08, as againstthe order dt.31/12/2010 and 31/12/2009, respectively passedby the assistant commissioner of Income Tax, Coimbatore forthe Assessment year 2007-08. For Appellant :Mr.T.R.Senthil Kumar, Sr.Standing Counsel assisted by Ms.K.G.Usha Rani For Respondent : Mr.R.Sivaraman These Tax Case Appeals have been filed by the Revenuecalling in question the correctness of the order passed bythe Income Tax Appellate Tribunal, 'B' Bench, Chennai, byraising the following substantial questions of law: https://hcservices.ecourts.gov.in/hcservices/ “ T.C.A.No.329 of 2012 a. Whether on the facts and circumstances of thecase, the Income Tax Appellate Tribunal wascorrect in deleting the addition made by theappellant under Section 69B of the Income Taxwhich were sustained by the Commissioner ofIncome Tax (Appeals)?b. Whether under the facts and circumstances ofthe case, the Income Tax Appellate Tribunal wascorrect in holding that no reference could bemade to the Valuation Officer without rejectingthe assessee's books of accounts? c. Whether under the facts and circumstances ofthe case, the Income Tax Appellate Tribunal wascorrect in holding that the case of the appellantis covered by the decision of the Supreme Courtin case of Sargam Cinema Vs. CIT reported in 328ITR 513 though Section 142A of the Income TaxAct, 1961 was inserted by Finance Act 2004, withretrospective effect from 15th November 1972,empowering the Assessing Officer to seekValuation Report from the Valuation Officer forthe purpose of making an assessment orreassessment?d. Whether under the facts and circumstances ofthe case, the Income Tax Appellate Tribunal wascorrect in holding that using the report ofValuation Officer in the reassessment withoutrejecting the assessee's books of accounts isimpermissible and consequently the additionshould be deleted?" T.C.A.No.330 of 2012": a. Whether on the facts and circumstances ofthe case, the Income Tax Appellate Tribunal wascorrect in holding that addition made by theAssessing Officer towards the supplementaryadditional works is rightly deleted by theCommissioner of Income Tax (Appeals)? b. Whether under the facts and circumstances ofthe case, the Income Tax Appellate Tribunal wascorrect in holding that the case of the appellantis covered by the decision of the Supreme Courtin case of Sargam Cinema Vs. CIT reported in 328ITR 513 though Section 142A of the Income TaxAct, 1961 was inserted by Finance Act 2004, withretrospective effect from 15th November 1972,empowering the Assessing Officer to seekValuation Report from the Valuation Officer forthe purpose of making an assessment or a. Whether on the facts and circumstances ofthe case, the Income Tax Appellate Tribunal wascorrect in holding that addition made by theAssessing Officer towards the supplementaryadditional works is rightly deleted by theCommissioner of Income Tax (Appeals)? b. Whether under the facts and circumstances ofthe case, the Income Tax Appellate Tribunal wascorrect in holding that the case of the appellantis covered by the decision of the Supreme Courtin case of Sargam Cinema Vs. CIT reported in 328ITR 513 though Section 142A of the Income TaxAct, 1961 was inserted by Finance Act 2004, withretrospective effect from 15th November 1972,empowering the Assessing Officer to seekValuation Report from the Valuation Officer forthe purpose of making an assessment or reassessment?d. Whether though Section 142A of the Income TaxAct, 1961 was inserted by Finance Act 2004, withretrospective effect from 15th November 1972,empowering the Assessing Officer to seekvaluation report from the Valuation Officer forthe purpose of making an assessment orreassessment?d. Whether under the facts and circumstances ofthe case, the Income Tax Appellate Tribunal wascorrect in holding that using the report ofValuation Officer in the reassessment withoutrejecting the assessee's books of accounts isimpermissible and consequently the additionshould be deleted?" 2. When the matter was taken up for hearing, thelearned Standing Counsel brought to our notice the Circularinstruction issued by the Central Board of Direct Taxesvide Circular No.17/2019 dated 8th August 2019, wherein, itis stipulated that appeals shall not be filed/pursued bythe Department before the High Court in cases where the taxeffect does not exceed Rs.1,00,00,000/- (Rupees One Crore). 3. In the instant cases, the tax effect is said to beless than the monetary limit imposed and therefore, theappeals filed by the Revenue are dismissed as not pressed,keeping open the substantial questions of law fordetermination in an appropriate case. Sd/- Assistant Registrar 2.The Commissioner of Income Tax,Coimbatore. https://hcservices.ecourts.gov.in/hcservices/