Tca/745/2019 Of The Commissioner Of Income Tax v. M/S.sakura Electronics Pvt.ltd

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED: 18.10.2019 THE HON'BLE DR.VINEET KOTHARI, ACTING CHIEF JUSTICEANDTHE HON'BLE MR.JUSTICE C.SARAVANAN The Commissioner of Income TaxTamil Nadu IV, Madras.. Appellant -vs- M/s.Sakura Electronics Pvt. LtdMadras.. Respondent Tax Case Appeal filed under Section 260A of the Income TaxAct against the order of the Income Tax Appellate Tribunal,Madras 'B' Bench, Chennai dated 15.10.1992 passed in R.A.No.842of 1992. Against order dated 29/05/92 made in ITA.No.940/mds/88.On the file of the Income Tax Appellate Tribunal Madras B Bench.Against the order dated 28/12/87 made in ITA.No.130/87-88 on thefile of the Commissioner of Income Tax Madras for the assessmentyear 1984-85. Against the order dated 6/3/87, made in GI No.52-Son the file of the Income Tax Officer Company Circle IV(3) madein the assessment year 1984-1985. This Tax Case Appeal has been filed by the Revenue, callingin question the correctness of the order passed by the IncomeTax Appellate Tribunal, 'B' Bench, Chennai, dated 15.10.1992,in R.A.No.842 of 1992, for the Assessment Year 1984-85 byraising the following substantial question of law. "Whether on the facts and in the circumstances of thecase, the Tribunal was right in law in holding thatthe method of accounting followed by the assesseecould not be faulted?” 1 https://hcservices.ecourts.gov.in/hcservices/ 2. When the matter is taken up for hearing, learned SeniorStanding Counsel brought to our notice the Circular instructionissued by the Central Board of Direct Taxes vide CircularNo.17/2019 dated 8th August 2019, wherein, it is stipulated thatappeals shall not be filed/pursued by the Department before theHigh Court in cases where the tax effect does not exceedRs.1,00,00,000/- (Rupees One Crore). 3. In the instant case, the tax effect is said to be lessthan the monetary limit imposed and therefore, the Appeal filedby the Revenue is dismissed, as withdrawn, keeping open thesubstantial questions of law for determination in appropriatecases. No costs. Sd/- Assistant Registrar(CS-VI) //True Copy// Sub Assistant Registrar kstTo: 1.Income Tax Appellate Tribunal, Madras 'B' Bench, Chennai 2.The Commissioner of Income Tax, Madras. 3.The Income Tax Officer, Company Circle IV(3) Madras. +1cc to Mr.T.R.Senthilkumar, Advocate SR.87544 RSV(CO)CB(27/11/2019) T.C.(A) No.745 of 2019