Tca/817/2015 Of Commissioner Of Income Tax v. M/S. Vgp Golden Beach

In the High Court of Judicature at Madras The Honourable Mr.Justice T.S.SIVAGNANAM and The Honourable Mrs.Justice V.BHAVANI SUBBAROYAN Tax Case Appeal No.817 of 2015The Commissioner of Income Tax, Chennai-34...Appellant/AppellantVsM/s.VGP Golden Beach Resorts Ltd.,Chennai-15 ...Respondent/ Respondent Prayer:APPEAL under Section 260A of the Income Tax Act,1961 against the order dated 20.3.2015 in ITANo.421/Mds/2013 on the file of the Income Tax AppellateTribunal Chennai 'D' Bench for the assessment year 2007-08against the order of the commissioner of income tax(Appeals)-I,dt.19.12.2012, made in ITA NO.34/2011-2012, forthe assessment year 2007-2008 and against the order of theassistant commissioner of Income Tax,Central Circle IV(3),Chennai DT.31.12.2010 for the assessment year 2007-2008.For Appellant :Mr.T.R.Senthilkumar & Ms.K.G.UsharaniFor Respondent:Mr.A.S.Sriraman Judgment was delivered by T.S.SIVAGNANAM,JHeard the learned counsel for the appellant. 2. This appeal by the Revenue challenges the orderpassed by the Income Tax Appellate Tribunal, which decidedthe issue in favour of the assessee. 3. The Revenue seeks to withdraw the appeal on accountof low tax effect in terms of Circular No.3 of 2018 dated11.7.2018 issued by the Central Board of Direct Taxes. https://hcservices.ecourts.gov.in/hcservices/ 4. In the light of the above, the appeal is dismissedas withdrawn and the substantial questions of law framedare left open. In the event the tax effect is above thethreshold limit fixed in the said circular, liberty isgranted to the Revenue to make a mention to this Court torestore the appeal to be heard and decided on merits. Nocosts. //True Copy// To The Income Tax Appellate Tribunal, Chennai 'D' Bench. 2.The commissioner of income tax (Appeals)-I, Chennai. 34.3. The Assistant commissioner of Income Tax,Central CircleIV(3), Chennai.