Commissioner Of Income Tax-I, Tiruchirapalli v. M/S.cethar Vessels (P) Ltd

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 07.03.2019 CORAM THE HON'BLE DR.JUSTICE VINEET KOTHARIANDTHE HON'BLE MR.JUSTICE C.V.KARTHIKEYANTax Case Appeal Nos.663 to 665 of 2009 Commissioner of Income Tax-I, Tiruchirapalli. .. Appellant / Respondent in all TCAs.Vs. M/s.Cethar Vessels (P) Ltd.,No.4, Dindigul Road,Tiruchirapalli. .. Respondent / Appellant in all TCAs.-----Tax Case Appeals filed under Section 260A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, Chennai 'C' Bench, Chennai, dated 24.04.2004 made inI.T.A.Nos.2171, 2172, 2173 (Mds.)/2003, respectively, in respectof Assessment Years 1996-97, 1997-98 and 1998-99. Against theorder of the Commissioner of Income Tax (Appeals),Tiruchirappalli dated 12.08.2003 and made in ITA Nos.234, 235and 236/2002-03 against the order of the Deputy Commissioner ofIncome Tax, Tiruchirappalli dated 16.09.1998, 17.08.1999 and22.02.2001 made in PAN/GIR Nos.105 C and for theAssessment Years 1996-97, 1997-98 and 1998-99 respectively.----- For Appellant : Mr.M.Swaminathan, in all TCAs Standing Counsel, assisted by Mrs.S.Premalatha, Jr.Stdg. Counsel For Respondent : Mr.M.P.Senthil Kumarin all TCAs -----J U D G M E N T (Delivered by DR.VINEET KOTHARI,J) These Tax Case Appeals have been filed by the Revenuecalling in question the correctness of the order passed by theIncome Tax Appellate Tribunal, dated 24.04.2004 in https://hcservices.ecourts.gov.in/hcservices/ I.T.A.Nos.2171, 2172, 2173 (Mds.)/2003, by raising the followingsubstantial question of law: "Whether on the facts and in the circumstancesof the case, the Income Tax Appellate Tribunal wasright in holding that the orders of rectificationu/s 154 for the assessment years 1996-97, 1997-98,1998-99 rectifying the deduction u/s 80IA byexcluding the interest on fixed deposits andrecurring deposits from the profit of the newindustrial unit were not valid on the ground thatthere were no mistakes apparent from record,overlooking that the rectifications have been madeon the basis of facts available on record and basedon the decisions of the Supreme Court ? " 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 appeals filedby the Revenue are dismissed as not pressed, keeping open thesubstantial question of law for determination in an appropriatecase. sra Sub Assistant RegistrarTo 1)The Commissioner of Income Tax – I,Tiruchirappalli. 2)The Commissioner of Income Tax (Appeals),Tiruchirappalli 3)The Deputy Commissioner of Income Tax,Tiruchirappalli +1 cc to Mr.M.Swaminathan, Advocate, S.R.No.21434+1 cc to Mr.Philip George, Advocate, S.R.No.21931 NMI(CO)SSM(04/04/2019). TCA Nos.663 to 665 of 2009