Commissioner Of Income Tax,Chennai v. M/S.teledata Informatics Limited,2Ab, Gee Gee Emerald

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 16.09.2019 CORAM : THE HON'BLE DR.JUSTICE VINEET KOTHARIANDTHE HON'BLE MR.JUSTICE C.SARAVANAN Tax Case Appeal No.30 of 2009 Commissioner of Income Tax,Chennai....Appellant Vs. M/s.Teledata Informatics Limited,2AB, Gee Gee Emerald,151, Village Road, Nungambakkam,Chennai-600 034....Respondent Tax Case Appeal filed under Section 260A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, Madras 'C' Bench, Chennai, dated 14.08.2008 made inITA No.2427/Mds/2007 against the order of Commissioner of IncomeTax Appeals VIII, Chennai dated 02.08.2007 and pertains ofassessment year 2003-2004 against thr assessment order passedunder section 143(3) of the I.T. Act 1961 dated 29.03.2006 byACIT, Company Circle III(2) Chennai for the assessment year2003-2004. For Appellant: Ms.V.PusphaJr. Standing Counsel ORDER (Order of the Court was made by DR.VINEET KOTHARI,J.)) This Tax Case Appeal has been filed by the Revenue callingin question the correctness of the order passed by the IncomeTax Appellate Tribunal, Madras 'C' Bench, Chennai, by raisingthe following substantial question of law: "Whether on the facts and circumstances of thecase, the Tribunal was right in holding that theamount of export proceeds not realised within he https://hcservices.ecourts.gov.in/hcservices/ statutory time limit, should be excluded from theturnover as well as the profit?” 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.17/2019 dated 08.08.2019 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.1Crore. 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. s/d- Assistant Registrar(CS VI) True Copy Sub-Assistant RegistrarbbrTo:1. The Registrar, Income Tax Appellate Tribunal, Madras "C" Bench, Chennai. 2. The Commissioner of Income Tax (Appeals)-VIII, 121, Mahatma Gandhi Salai, Nungambakkam, Chennai-34. 3. The Assistant Commissioner of Income-tax, Company Circle-III (2) Chennai-34. +1 CC to Mr.M. Swaminathan, Advocate sr 79136. T.C.(A) No.30 of 2009 RGN(CO)SP(23/10/2019)