The Commissioner Of Income Tax, Central Circle Iii, Chennai v. Shri M.srinivas Babji

In the High Court of Judicature at Madras THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAMAND THE HONOURABLE MRS.JUSTICE V.BHAVANI SUBBAROYAN Tax Case Appeal No.520 of 2014 The Commissioner of Income Tax, Central Circle III, Chennai...Appellant Vs Shri M.Srinivas Babji...Respondent APPEAL under Section 260A of the Income Tax Act, 1961against the order dated 03.3.2014 in ITA No.809/Mds/2013 on thefile of the Income Tax Appellate Tribunal Chennai 'B' Bench forthe assessment year 2007-08 against the order dated 22.02.2013of Commissioner of Income Tax appeals I, Chennai in I.T.A. Nos.1236/2012-2013 as against the order dated 30.12.2008 inAssistant Commissioner of Income Tax Central Circle III(4)Chennai 34 in PAN/GIR No. for the assessment year2007-2008. Judgment was delivered by T.S.SIVAGNANAM,J Heard the learned counsel for the appellant. 2. This appeal by the Revenue challenges the order passed bythe Income Tax Appellate Tribunal, which decided the issue infavour of the assessee. 3. The Revenue seeks to withdraw the appeal on account oflow tax effect in terms of Circular No.3 of 2018 dated 11.7.2018issued by the Central Board of Direct Taxes. 4. In the light of the above, the appeal is dismissed aswithdrawn and the substantial questions of law framed are left https://hcservices.ecourts.gov.in/hcservices/ open. In the event the tax effect is above the threshold limitfixed in the said circular, liberty is granted to the Revenue tomake a mention to this Court to restore the appeal to be heardand decided on merits. No costs. Assistant Registrar(CS V) True Copy Sub-Assistant Registrar To 1.The Income Tax Appellate Tribunal, Chennai 'B' Bench. +1 CC to Mr.T.R.Senthilkumar, Advocate sr 70790.+1 CC to Mr.R. Janagiraman, Advocate sr 69945. SS(CO)SP(19/11/2018) TCA.No.520 of 2014