Commissioner Of Income Tax Ward Xiii(4) Chennai 34 v. Madhuvan Prasad

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED: 20.02.2017 CORAM THE HON'BLE MR.HULUVADI G. RAMESH, THE ACTING CHIEF JUSTICEANDTHE HON'BLE DR.JUSTICE ANITA SUMANTH Tax Case (Appeal) No.320 of 2009 Commissioner of Income TaxWard XIII(4)Chennai 34..AppellantVs.Madhuvan Prasad ..Respondent Tax Case Appeal filed under Sec. 260A of the Income Tax Act,1961 against the order of the Income Tax Appellate Tribunal,Madras 'A' Bench, Chennai, dated 17.10.2005 in ITANo.2485/MDS/2004. Against the order of commissioner of IncomeTax (Appeals)-XII Chennai 34, dated 25.06.2004 in ITA.No.46/04-05 against the assesment order of the Income Tax officer, wardXIII (4) Chennai made in PAN/G1 No. . For Appellant : Mr.M.Swaminathan Standing Counsel For Respondent : Not ready in notice J U D G M E N T(Delivered by the Acting Chief Justice) The Tax Case Appeal filed by the Revenue calling inquestion the correctness of the order passed by the Income TaxAppellate Tribunal, Madras 'A' Bench, Chennai, dated 17.10.2005in ITA No.2485/MDS/2004., has been admitted on 29.6.2009 forconsideration of the following substantial question of law: "Whether the Tribunal was right in allowing theexemption of the sale proceeds under Section 54 ofthe Income Tax Act which was neither deposited asrequired under Section 54 Sub-clause (2) nor wassubjected to purchase of the residential propertybefore filing of return under Section 139(1) of theIncome Tax Act?" https://hcservices.ecourts.gov.in/hcservices/ 2. Circular instruction issued by the Central Board ofDirect Taxes No.21/2015, dated 10.12.2015 stipulates thatappeals shall not be filed/pursued by the Department before theHigh Court in cases where the tax effect does not exceed Rs.20lakhs. In the instant case, the tax effect is less than themonetary limit imposed and therefore, the learned StandingCounsel for the appellant seeks to withdraw this appeal. Hence,this appeal is dismissed as withdrawn. No costs. Sd/- Assistant Registrar //True Copy// Sub Assistant RegistrarToThe RegistrarIncome Tax Appellate TribunalMadras A Bench2 The Commissioner of Income Tax(Appeals) – XII,No.121, Mahatma Gandhi Road,Chennai 343 The Income Tax Officer,Ward XIII (4)15, shaffee Mohammed Road,Chennai 6kgk(CO)md(13/03/2017)TCA No.320 of 2009