Commissioner Of Income Tax Chennai v. Shri.r.rajinikant

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 21.1.2020 CORAM THE HON'BLE DR.JUSTICE VINEET KOTHARIANDTHE HON'BLE MR.JUSTICE R.SURESH KUMAR TAX CASE (APPEAL) NOS.1081 & 1084 OF 2010 Commissioner of Income Tax Chennai... Appellant in both casesVs.Shri.R.Rajinikant... Respondent in both casesPrayer:-Tax Case Appeals filed under Section 260A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, 'B' Bench, Chennai, dated 18.12.2009 made in ITANo.1573/Mds/2009 and ITA No.1576/Mds/2009. Against the order of the Commissioner of Income Tax(Appeals)-IV, Ch-34, dated 17.07.2009 made in ITA.Nos.55/2006 &107 of 2008, Against the Order, dated 31.03.2006 & 25.11.2008 made inunder sec 143(3) of the Income Tax Act, 1961 for the Assessmentyear 2002-03 & 2006-07 on the file of the Deputy Commissioner ofIncome Media Circle -II Chennai. For Appellant : Mr.M.Swaminathan Senior Standing Counsel For Respondent : Mr.A.S.Sriraman (Delivered by DR.VINEET KOTHARI,J) These Tax Case Appeals have been filed by the Revenue,calling in question the correctness of the order passed by theIncome Tax Appellate Tribunal, 'B' Bench, Chennai, dated18.12.2009madeinITANo.1573/Mds/2009andITANo.1576/Mds/2009, for the Assessment Years 2002-2003 and 2006-2007, by raising the following substantial questions of law: https://hcservices.ecourts.gov.in/hcservices/ "i) Whether on the facts and circumstances of thecase, the Tribunal was right in holding that theincome from the money lending activity between itsfriends and relatives as hand loan without anystipulated terms on the basis of relationship, asper the assessee's admission during the course ofsurvey had to be treated as income from business,when the assessee had ratified the statement givenduring the survey by way of revised return, whereinthe bad debt claim was withdrawn? And ii) Whether on the facts and circumstances of thecase, the Tribunal was right in holding that theassessee is entitled for claim of deduction of baddebt for the assessment year 2006-07?" 2. When the matters are taken up for hearing, learnedSenior Standing Counsel brought to our notice the Circularinstruction issued by the Central Board of Direct Taxes videCircular No.17/2019 dated 8th August 2019, wherein, it isstipulated that appeals shall not be filed/pursued by theDepartment before the High Court in cases where the tax effectdoes not exceed Rs.1,00,00,000/- (Rupees One Crore). 3. In the instant cases, the tax effect is said to be lessthan the monetary limit imposed and therefore, the Appeals filedby the Revenue are dismissed, as withdrawn, keeping open thesubstantial questions of law for determination in appropriatecases. No costs. Sd/- Assistant Registrar(CS III) //True Copy// ssk. 1. The Commissioner of Income Tax Chennai2. The Income Tax Appellate Tribunal, 'B' Bench, Chennai. 4. The Commissioner of Income Tax (Appeals)-VI,Chennai.Chennai. +1cc to Mr.M.Swaminathan, Advocate, S.R.No.4502 +1cc to Mr.M.Sridhar, Advocate, S.R.No.3636 T.C.(A)Nos.1081 & 1084 of 2010 GP(CO)CS/30/11/2020