Commissioner Of Income Tax Chennai v. M/S. Orchid Chemicals & Pharmaceuticals Ltd

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED: 06.12.2018 CORAMTHE HON'BLE DR.JUSTICE VINEET KOTHARIANDTHE HON'BLE DR.JUSTICE ANITA SUMANTH Tax Case Appeal No.41 of 2009 Commissioner of Income TaxChennai...Appellant/AppellantVs. M/s. Orchid Chemicals & Pharmaceuticals Ltd.131, Valluvar Kottam High RoadNungambakkamChennai 600 034. .. Respondent/Respondent Tax Case Appeal filed under Section 260A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, Madras 'B' Bench dated 26.3.2008 made in ITANo.2320/Mds/2007 against the order dated 15/6/2007 made in ITANo.275/2005-2006 on the file of O/o Commissioner of Income Tax(Appeals) V Chennai-34 against the assessment order dated31.03.2005 made in PAN AAAC0040213 on the file of DeputyCommissioner of Income Tax, Company Circle V(1) Chennai. For Appellant : Mr.T.Ravi Kumar Senior Standing Counsel For Respondent : Mr.R.Sivaraman This Tax Case Appeal has been filed by the Revenue callingin question the correctness of the order passed by the IncomeTax Appellate Tribunal, Madras 'B' Bench dated 26.3.2008 madein ITA No.2320/Mds/2007, by raising the following substantialquestion of law: "Whether in the facts and circumstances of thecase, the Tribunal was right in holding that theassessee is eligible for the benefit of Section 10Bin respect of profit from sale of scrap and spent https://hcservices.ecourts.gov.in/hcservices/ solution?" 2. When the matter is taken up for hearing, the learnedStanding Counsel brought to our notice the Circular instructionissued by the Central Board of Direct Taxes vide CircularNo.3/2018 dated 11.7.2018 wherein it is stipulated that appealsshall not be filed/pursued by the Department before the HighCourt in cases where the tax effect does not exceed Rs.50 lakhs. 3. In the instant case, the tax effect is said to be lessthan the monetary limit imposed and therefore, the appeal filedby the Revenue is dismissed as not pressed, keeping open thesubstantial questions of law for determination in an appropriatecase. Sd/-Assistant Registrar(CS-VIII)//True copy//Sub Assistant RegistrarkplTo1. The Income Tax Appellant Tribunal Bench 'B'Chennai.2. The Commissioner of Income Tax (Appeals) V, 121, Mahatma Gandhi Road, Chennai – 34.3. The Deputy Commissioner of Income Tax, Company Circle V(1), Chennai-34.4. The Assistant Commissioner of Income Tax, Company Circle V(1), Chennai-34. Copy To The Section Officer, VR Section, High Court, Madras.+1cc to Mr.T.Ravi Kumar, Advocate SR.No.83935 TCA No.41 of 2009. VGI(CO)GMY(23/01/2019)