Tca/609/2014 Of The Commissioner Of Income Tax v. M/S Intimate Fashions India

IN THE HIGH COURT OF JUDICATURE AT MADRASDated: 8/6/2016 C O R A M The Honourable Mr.Justice S.ManikumarandThe Honourable Mr.Justice D.Krishnakumar Tax Case Appeal No.609 of 2014 The Commissioner of Income TaxChennai....Appellant/Respondent VsM/s.Intimate Fashions (India) Pvt LtdC/o.S.Venkatram & Co, Cas218 TTK RoadAlwarpetChennai 600 018....Respondent/AppellantPrayer:Appeal filed against the order of the Income TaxAppellate Tribunal, Madras 'B' Bench, Chennai dated 28/6/2012 inITA No.2116/Mds/2011 and against the order passed by theAssistant Commissioner of Income Tax, Company Circle II(3),Chennai-34 in PAN/GIR No.AAAC12706C dated 22/10/2010. For appellant : Mr.T.R.Senthil Kumar Senior Standing Counsel for Income Tax.For respondent : No appearance- - - - - - J U D G M E N T (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 28/6/2012. 2. The substantial questions of law raised in the instantappeal are:- https://hcservices.ecourts.gov.in/hcservices/ “1. Whether on the facts and in thecircumstances of the case, the Income TaxAppellate Tribunal was right in deletingthe additions made on account of revisionin Arms Length Price which resulted inadjustment of Rs.60,43,329/- for theassessment year 2006 – 2007 andRs.11,03,219/- for the assessment year 2007– 08 was not proper? 2. Whether on the facts and in thecircumstances of the case, the income taxAppellate Tribunal was right in holdingthat the computing deduction under Section10 B, freight, telecommunication chargesincurred in foreign exchange are to beexcluded from the total turnover?” 3. Mr.T.R.Senthil Kumar, learned Senior Standing Counselfor Income 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 Appeals have been instructed to bewithdrawn, subject to the matters covered under the Circular. 4. Placing on record the above submissions, whiledismissing the Tax Case Appeal No.609 of 2014, as withdrawn,substantial questions of law raised are left open. No costs. To1.The Commissioner of Income TaxChennai 2.The Income Tax Appellate TribunalMadras B Bench Chennai 3.The Assistant Commissioner of Income TaxCompany Circle II(3) Chennai-34+1 cc to Mr.T.R.Senthilkumar Advocate sr.30738/16 aa29/06/2016 https://hcservices.ecourts.gov.in/hcservices/