Tca/286/2010 Of Commisisoner Of Income Tax v. M/S Regent Tours

C O R A M The Honourable Mr.Justice S.ManikumarandThe Honourable Mr.Justice D.KrishnakumarTax Case Appeal No.286 of 2010 The Commissioner of Income Tax – IIIChennai....Appellant /AppellantVsM/s. Regent Tours & Travels Pvt Ltd132 TTK RoadAlwarpetChennai 600 018....Respondent /RespondentPrayer:Appeal filed against the order of the Income TaxAppellate Tribunal, Madras 'B' Bench, Chennai dated 29/5/2009 inITA No.1957/Mds/2008 against the order of the Commissioner ofIncome Tax(Appeas)-V, Chennai-34 dated 04.02.2008 and made inITA.No.160/2007-2008. against the order of the Assistant Commissioner of IncomeTax, Company Range V(3) Chennai, dated 19.11.2007 and made inPAN/GI.No.AAACR3237K/53180R for the Assessment yea 2005-06. For appellant : Mr.T.Ravikumar Senior Standing Counsel for Income Tax. (Judgment of the Court was made by S.Manikumar,J)This Appeal has been filed against the order of the IncomeTax Appellate Tribunal, 'B' Bench, Madras, dated 29/5/2009. https://hcservices.ecourts.gov.in/hcservices/ 2. The substantial questions of law raised in the instantappeal are:- “1. Whether on the facts and in thecircumstances of the case, the Income TaxAppellate Tribunal was right in upholdingthe order of the Commissioner of Income TaxAppeals deleting the disallowance offoreign travel expenses incurred by thedirectors of the assessee Company, in spiteof the assessee's failure to establish thatsuch expediture was incurred wholly andexclusively for the purpose of the businessof the assessee? 2. Whether on the facts and in thecircumstances of the case, the Income TaxAppellate Tribunal was right in holding theassessee was entitled to carry forward ofthe loss under the head “long term capitalgains” given only in a revised computationand not in the return under Section 139(1), ignoring the provisions of Section 80of the Income Tax Act?” 3. Mr.T.RaviKumar, learned Senior Standing Counsel forIncome Tax submitted that the tax implication in the instantappeal is less than the ceiling limit fixed by the Circularbearing No.21 of 2015, dated 10/12/2015. He further submittedthat as per the Circular, Tax Case Appeal has been instructed tobe withdrawn. 4. Placing on record the above submissions, whiledismissing the Tax Case Appeal No.286 of 2010, as withdrawn,substantial questions of law raised are left open. No costs.-s/d- Assistant Registrar True Copy Sub-Assistant Registrar mvs https://hcservices.ecourts.gov.in/hcservices/ To1.The Income Tax AppellateTribunal'B bench Madras 2.The Commissioner of Income Tax(Appeals)-VChennai-34 3.The Assistant Commissionerof Income Tax Company Range V(3)Chennai +1 cc to Mr.T.Ravikumar Senior Standing counsel forIT Department sr.35816/16 Tax Case Appeal No.286 of 2010aa19/07/2016