Commissioner Of Income Tax Itrichy v. M/S.sri Ramavilas Weaving Factorysf

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 27.11.2018 CORAM THE HON'BLE DR.JUSTICE VINEET KOTHARIANDTHE HON'BLE DR.JUSTICE ANITA SUMANTH Tax Case Appeal No.1384 of 2009 Commissioner of Income Tax ITrichy. ... Appellant Vs. M/s.Sri Ramavilas Weaving FactorySF No.2262, Pari Nagar, Chinna Andan Koil Street,Karur – 639 002. ... Respondent Tax Case Appeal filed under Section 260A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, Madras 'A' Bench, Chennai, dated 10.07.2009 made inITA No.76/Mds/2009 for the assessment year 2003-04. against theorder of the Commissioner of Income – Tax (Appeals),Tiruchirappali, dated:04/11/2008 and made in ITA.No.16/08-09 forthe Assessment year 2003-04. Against the order of the Deputy Commissioner of Income -Tax,Circle -III, Tiruchirappali dated:24/03/2008 and made inPAN.AABF58790C/GIR-II/07-08/TRY. For Appellant : Mr.T.Ravikumar This Tax Case Appeal has been filed by the Revenue callingin question the correctness of the order passed by the IncomeTax Appellate Tribunal, Madras 'A' Bench, Chennai, dated10.07.2009 made in ITA No.76/Mds/2009 for the assessment year2003-04 by raising the following substantial question of law:"Whether on the facts and in the circumstances https://hcservices.ecourts.gov.in/hcservices/ of the case, the Income Tax Appellate Tribunal wasright in deleting the penalty of Rs.6,44,550/-levied on the assessee under section 271(1)(c) ofthe the Income Tax Act, without appreciating theeffect of Explanation 1 to section 271(1)(c) andwithout applying the ratio of the decision of theSupreme Court in the case of Union of India v.M/s.Dharmendra Textiles Processors (306 ITR 277)?” 2. When the matter is taken up for admission, the learnedSenior Standing Counsel brought to our notice the Circularinstruction issued by the Central Board of Direct Taxes videCircular No.3/2018 dated 11.7.2018 wherein it is stipulated thatappeals shall not be filed/pursued by the Department before theHigh Court in cases where the tax effect does not exceed Rs.50lakhs. 3. In the instant case, the tax effect is less than themonetary limit imposed and therefore, the appeal is dismissed asnot pressed, preserving the substantial question of law fordetermination in an appropriate case. Sd/- Assistant Registrar(CS IV) //True Copy// Sub Assistant Registrar To1.The Commissioner of Income-Tax I,Trichy. 2.The Commissioner Of Income Tax (Appeals)Tiruchirappalli. 3.The Deputy Commissioner of Income-Tax,Circle-II, Tiruchirappalli. 4.The Income-Tax Appellate Tribunal,Madras 'A' Bench, Chennai.+1cc to Mr.T.Ravikumar , Advocate, S.R.No.80752+1cc to Mr.V.S.Jayakumar, Advocate, S.R.No.81062 TCA No.1384 of 2009 SV(CO)GSP(26/12/2018) https://hcservices.ecourts.gov.in/hcservices/