Commissioner Of Income Taxchennai v. M/S.sirlus Shipping Company Ltd.,2 Ab Gee Gee Emerald

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED: 13.12.2018 CORAMTHE HON'BLE DR.JUSTICE VINEET KOTHARIANDTHE HON'BLE DR.JUSTICE ANITA SUMANTH Tax Case No.2024 of 2008 Commissioner of Income TaxChennai...Appellant Vs. M/s.Sirlus Shipping Company Ltd.,2 AB Gee Gee Emerald,151, Village Road, Nungambakkam, Chennai 600 034. ..Respondent Tax Case filed under Section 260A of the Income Tax Act,1961 against the order of the Income Tax Appellate Tribunal,Madras 'C' Bench, Chennai, dated 30.5.2008 made in ITANo.2322/Mds/07 against the order of the Commissioner of IncomeTax (Appeals)-V, Chennai, dated 18/6/2007 in ITA No. 87/2006-07for the assessment year 2002-2003, against the order of theAssistant Commissioner of Income Tax, Company Circle VI(3),Chennai-34 dated 28/03/2006 in PAN/GIR No.Si-27/ forthe assessment year 2002 -03. -----For Appellant : Mr.T.R.Senthilkumar, Senior Standing Counsel For respondent : Mr.R.Venkataraman for M/s.Subbaraya Aiyar Padmanabhan----- J U D G M E N T (Delivered by DR.VINEET KOTHARI,J) This Tax Case has been filed by the Revenue calling inquestion the correctness of the order passed by the Income TaxAppellate Tribunal, Madras 'C' Bench, Chennai, dated 30.5.2008made in ITA No.2322/Mds/07, by raising the following substantialquestion of law: "Whether, on the facts and circumstances of thecase, the Tribunal was right in holding that theassessee is entitled for deduction under Section33AC of the Income-tax Act, 1961?" https://hcservices.ecourts.gov.in/hcservices/ 2. When the matter is taken up for admission, 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 question of law for determination in an appropriatecase. Sd/- Assistant Registrar(CS VIII) ssk. //True Copy// Sub Assistant Registrar To 1.The Commissioner of Income Tax,Chennai.Chennai. 2.The Income Tax Appellate Tribunal,Madras 'C' Bench,Chennai.Madras 'C' Bench,Chennai. 3.The Commissioner of Income Tax (Appeal)-V,Chennai.Chennai. 4.The Assistant Commissioner of Income Tax,Company Circle VI(3),Chennai-34.Company Circle VI(3),Chennai-34. TC No.2024 of 2008 SSI(CO) rrs 31/01/2019