Principal Commissioner Of Income Tax-3, Coimbatore v. M/S.saravana Ricemill, Tirupur

In the High Court of Judicature at Madras Coram : The Honourable Mr.Justice T.S.SIVAGNANAM and The Honourable Mr.Justice N.SATHISH KUMAR Tax Case Appeal No.299 of 2017 Principal Commissioner of Income Tax-3, Coimbatore...Appellant VsM/s.Saravana Ricemill, Tirupur...Respondent APPEAL under Section 260A of the Income Tax Act, 1961against the order dated 28.10.2016 in ITA No.2039/Mds/2016 onthe file of the Income Tax Appellate Tribunal Madras 'A' Benchfor the assessment year 2011-12 against the Order of theCommissioner of Income Tax (Appeals)-3 Coimbatore dated15/03/2016 in I.T.A.No. 370/14-15 PAN.No. AssessmentYear 2011-2012 against the assessment order of the Income TaxOfficer WARD 1 (1) Tiruppur PAN.GIR.No AARFS 3907R AssessmentYear 2011-2012 dated 30.11.2013. For Appellant : Mr.T.R.Senthilkumar, SSC For Respondent :Mr.R.Kumar Judgment was delivered by T.S.SIVAGNANAM,J Heard the learned Senior Standing Counsel for the appellant.2. This appeal by the Revenue challenges the order passedby the Income Tax Appellate Tribunal, which decided the issue infavour of the assessee. The Revenue has filed the appeal byraising the following substantial questions of law : “i. Whether, on the facts and in thecircumstances of the case, the AppellateTribunal is(2)justified in law in allowing the assessee'sclaim of depreciation @ 80% on windmill when https://hcservices.ecourts.gov.in/hcservices/ the return of income was filed belatedly forthe first year ? Andii. Whether, on the facts and in thecircumstances of the case, the Tribunal isjustified in law in allowing the assessee'sexcess claim of depreciation when filing ofthe audit report within due date wouldsatisfy the requirement of exercising optionunder Rule 5(1A) when the return of incomeof the first year was filed belatedly?” 3. The Revenue seeks to withdraw this appeal on account oflow tax effect in terms of Circular No.3 of 2018 dated 11.7.2018issued by the Central Board of Direct Taxes. 4. In the light of the above, the appeal is dismissed aswithdrawn and the substantial questions of law raised are leftopen. In the event the tax effect is above the threshold limitfixed in the said circular under exceptional clauses mentionedin the circular, liberty is granted to the Revenue to make amention to this Court to restore the appeal to be heard anddecided on merits. No costs. Sd/-Assistant Registrar(CS-III)//True Copy// Sub Assistant Registrar 1.The Income Tax Appellate Tribunal, Madras 'A' Bench. Madras 'A' Bench. 2.The Commissioner of Income Tax (Appeals) – 3, Coimbatore. 3. The Income Tax Officer WARD 1(1), Tiruppur.+1cc to Mr.T.N.Seetharaman, Advocate, S.R.No. 372+1cc to Mr.T.R.Senthil Kumar, Advocate, S.R.No. 208 VSN II(CO)GN(14/02/2019)