M/S.simpson & General Finance Co Ltdno.861/862 Anna Salaichennai 600 002 v. The Assistant Commissioner Of Income Taxcompany Circle Vi (3)Chennai 600 034

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 31/8/2016 C O R A M THE HONOURABLE MR.JUSTICE S.MANIKUMARANDTHE HONOURABLE MR.JUSTICE D.KRISHNAKUMAR Tax Case Appeal No.258 of 2016 M/s.Simpson & General Finance Co LtdNo.861/862 Anna SalaiChennai 600 002.... Appellant/Appellant Vs The Assistant Commissioner of Income TaxCompany Circle VI (3)Chennai 600 034.... Respondent/Respondent Prayer:Appeal filed under Section 260-A of the Income Tax Act,1961 against the order of the Income Tax Appellate Tribunal,Madras 'C' Bench, Chennai dated 30/6/2015 in ITANo.2843/Mds/2014, against the Commissioner of Income Tax(Appeals) VI, Chennai, dated 30.09.2014 in I.T.A.No.1680/13-14/A-VI, for the Assessment Year 2008-09, against the AssistantCommissioner of Income Tax, Company Circle VI(3), Chennai dated28.10.2010 in PAN/GIR.No.Si 22/ for the AssessmentYear 2008-09. For Appellant :Mr.R.Venkatanarayananfor Mr.Subbaraya Aiyar For Respondent :Mr.J.NarayanaswamySenior Standing Counsel J U D G M E N T(Judgment of the Court was made by S.Manikumar,J) Challenge in this Tax Appeal, is to an order passed by theIncome Tax Appellate Tribunal in I.T.A.No.2843/Mds/2014, dated30/6/2015, for the assessment year 2008 – 2009. 2. Substantial questions of law raised in the instant TaxCase Appeal are as follows:- https://hcservices.ecourts.gov.in/hcservices/ “1. Whether on the facts and in thecircumstances of the case, the Tribunal wasright in holding the reopening of theassessment which was on the same set offacts? 2. Whether on the facts and in thecircumstances of the case, the Tribunal wasjustified in not appreciating that thedisallowance made by the assessing Officerwas done by recomputing the average value ofassets under Rule 8 D (iii) when thematerials were already available to himduring the original assessment?” 3. On this day, when the matter came up for hearing,Mr.R.Venkatanarayanan for Mr.Subbaraya Aiyar, learned counselfor the appellant submitted that he is not pressing both thesubstantial questions of law and he has also made an endorsementto that effect. 4. Placing on record the above, Tax Case Appeal No.258 of 2016 is dismissed. No costs. Consequently, the connectedMiscellaneous Petition is closed. Sd/- Assistant Registrar(CS VII) //True Copy// mvs Sub Assistant Registrar To 1. The Income Tax Appellate Tribunal, Madras 'C' Bench, Chennai. 2. The Assistant Commissioner of Income Tax Company Circle VI (3) Chennai 600 034. +1cc to Mr.Subbaraya Aiyar Padmanabhan, Advocate, S.R.No.49447 CTK(CO)CA(19/09/2016) Tax Case Appeal No.258 of 2016