Tca/129/2015 Of Commissioner Of Income Tax v. P.v.seethala Devi

In the High Court of Judicature at Madras The Honourable Mr.Justice T.S.SIVAGNANAM The Honourable Mrs.Justice V.BHAVANI SUBBAROYANTax Case Appeal No.129 of 2015 The Commissioner of Income Tax, Business Ward IV, Chennai ...Appellant/Appellant APPEAL under Section 260A of the Income Tax Act, 1961against the order dated 13.11.2014 in ITA No.212/Mds/2014on the file of the Income Tax Appellate Tribunal Madras 'A'Bench for the assessment year 2009-10 and against the orderof the commissioner of Income Tax (Appeals V),Chennai34.dated 10/10/2013 in ITA.No.164/11-12 (A)-v and againstthe order of the Income Tax officer, Business wardIV,Chennai34,dated 30.12.2011 in PAN/GIR NO.ADAPV 8804E. Judgment was delivered by T.S.SIVAGNANAM,J We have heard the learned Standing Counsel for theappellant. 2. The Revenue has preferred this appeal challengingthe order dated 13.11.2014 passed by the Income TaxAppellate Tribunal in ITA.No.212/Mds/ 2014 for theassessment year 2009-10. 3. The above appeal has been admitted on 23.3.2015 onthe following substantials question of law :“1. Whether, on the facts and inthe circumstances of the case, theIncome Tax Appellate Tribunal was right https://hcservices.ecourts.gov.in/hcservices/ in deciding the issue on its owninstead of remitting the issue back tothe Assessing Officer to refer the sameto DVO to determine the value ofproperty for the purpose of capitalgain under Section 50C(2) of the IncomeTax Act, 1961, when the value of theproperty was under dispute ? and2. Whether, on the facts and inthe circumstances of the case, theIncome Tax Appellate Tribunal wasjustified in law in determining thevalue of the subject property asadopted by the assessee, when theprovisions of Section 50C provide onlyfor adopting either the guideline valueor the value as ascertained from theDVO ?” 4. The learned Standing Counsel for the appellantseeks permission to withdraw the above appeal based on theBoard's monetary policy circular. She would submit that onaccount of the monetary limit in this appeal, which islesser than the threshold fixed by the Board's circulardated 11.7.2018, she may be permitted to withdraw theappeal. 5. The said submission of the learned Standing Counselfor the Revenue is placed on record. The above tax caseappeal is dismissed as withdrawn and the substantialquestions of law framed in this appeal are left open. Assistant Registrar(CS VI) //True Copy// Sub Assistant Registrar To 1.The Income Tax Appellate Tribunal, Madras 'A' Bench.2.The Commissioner of Income Tax Officer, Business Ward V(1), Chennai34. 3.The Commissioner of Income Tax,(Appeals V),Second Floor,Main Building,121,MG Road,Nungambakam, Chennai 34. https://hcservices.ecourts.gov.in/hcservices/ 4.The Assistant Registrar,Income Tax Appellate Tribunal,Rajaji Bhavan ,Besant Bagar, Chennai. +1cc to Mr.M.SWAMINATHAN, Advocate SR.No. 65374 TCA.No.129 of 2015 ASK(17/10/2018)