Principal Commissioner Of Income Tax - 1 Chennai v. M/S.casa Grande Homes Pvt. Ltd.npl Devi, New

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 12.11.2024 CORAM : THE HONOURABLE MR.JUSTICE R. SURESH KUMARAND THE HONOURABLE MR.JUSTICE C. SARAVANAN T.C.A.No.202 of 2024 Principal Commissioner of Income Tax - 1 Chennai...Appellant Vs. M/s.Casa Grande Homes Pvt. Ltd.NPL Devi, New No.111Old No.59, L.B. Road, TiruvanmiyurChennai - 600 041.PAN: ..Respondent Prayer: Appeal filed under Section 260-A of the Income Tax Act, 1961, against the order of Income Tax Appellate Tribunal Madras “A” Bench dated 06.07.2022 passed in I.T.A.No.3491/CHNY/2019. For the Appellant:Mr.Karthik RanganathanSenior Standing Counsel For the Respondent:Mr.A.S.Sriraman JUDGMENT (Order of the Court was made by R.SURESH KUMAR, J.) The present tax case appeal was admitted on 27.09.2024 on the following substantial questions of law:- https://www.mhc.tn.gov.in/judis T.C.A.No.202 of 2024 "1. Is not the reasoning and finding of the Tribunal perverse by allowing other expenses claimed amounting to Rs.515,44,310/- holding that the indirect cost cannot be attributed to any specific project especially when Assessee had only one project during the relevant period? 2. Is not the finding of the Tribunal perverse especially when ICDs-III with regard to construction contract is applicable only with effect from AY 2017-18 and not to be present AY which is 2016-17?" 2. It is submitted by the learned Senior Standing Counsel appearing for the appellant Revenue that this matter is covered under the Low Tax Effect as per the recent Circular dated 17.09.2024, in Circular No.9/2024. 3. Hence, this appeal stands dismissed, as covered under the low tax effect and the substantial questions of law raised in this appeal are kept open to be decided at the later point of time. There shall be no order as to costs. Neutral Citation:Yes/No drm https://www.mhc.tn.gov.in/judis T.C.A.No.202 of 2024 R. SURESH KUMAR, J.ANDC. SARAVANAN, J.(drm) T.C.A.No.202 of 2024 12.11.2024