Commissioner Of Income Taxchennai v. Shri Suresh B Mehra

IN THE HIGH COURT OF JUDICATURE AT MADRAS THE HON'BLE DR.JUSTICE VINEET KOTHARIANDTHE HON'BLE MR.JUSTICE R.SURESH KUMAR Tax Case Appeal No.701 of 2010 Commissioner of Income TaxChennai....Appellant/Petitioner Vs. Shri Suresh B Mehra...Respondent/Respondent ----- Tax Case Appeal filed under Section 260A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, Madras 'D' Bench, Chennai, dated 30.11.2007made inITSSA.No.152/Mds/2002, against the order of the Commissioner ofIncome Tax(Appeals) Central-I, Chennai 600 034 made inITA.NO.338/2001-02 dated 05.06.2002 against the order of theDeputy Commissioner of Income Tax Central Circle-IV(1), Chennai-34 made in P.A.NO./G.I.NO.AARPS 1031Q/702-S dated 28.02.2002.----- This Tax Case Appeal has been filed by the Revenue callingin question the correctness of the order passed by the IncomeTax Appellate Tribunal, 'D' Bench, Madras, by raising thefollowing substantial question of law: "Whether on the facts and circumstances of the case,the Tribunal is right in law in deleting the loanamount advanced to N.S.Raghava Reddiar in the nameof Dharmasastha along with interest which is a duty https://hcservices.ecourts.gov.in/hcservices/ free shop of the assessee and not liable to betaxed?” 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 appeal filedby the Revenue is dismissed as not pressed, keeping open thesubstantial questions of law for determination in an appropriatecase. Sd/- Assistant Registrar(CCC) //True Copy// KSTTo Sub Assistant Registrar 1.The Income Tax Appellate Tribunal, Madras 'D' Bench, Chennai. 2.The Commissioner of Income Tax(Appeals)Central-I, Chennai 600 034. 3.The Deputy Commissioner of Income Tax,Central Circle-IV(1), Chennai-600 034. 4. The Section Officer,V.R Section,High Court, Madras TCA No.701 OF 2010 ak(co)nr 21/01/2020