The Commissioner Of Income Tax Central I v. R.srinivasan

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.1012 of 2015 The Commissioner of Income TaxCentral INo.109 Nungambakkam High RoadChennai 600 034....Appellant/Respondent VsR.Srinivasan...Respondent/Appellant Prayer:Appeal filed against the order of the Income TaxAppellate Tribunal, Madras 'A' Bench, Chennai dated 15/5/2015 inITA No.2109/Mds/2014 against the order of the Commissioner ofIncome Tax (Appeals)-II, Coimbatore, in ITA NO.80/2011-2012dated 30.06.2014 against the order of the Deputy Commissioner ofIncome Tax, Central Circle-I, Coimbatore, dated 07.12.2010 iPAN/GIR No.AAIPS8386H. For appellant : Mr.T.R.Senthil Kumar Senior Standing Counsel for Income Tax.For respondent : Mr.N.V.Balaji This Appeal has been filed against the order of the IncomeTax Appellate Tribunal, 'A' Bench, Madras, dated 15/5/2015.2. The substantial questions of law raised in the instantappeal are:- “1. Whether on the facts and in thecircumstances of the case, the AppellateTribunal was right in cancelling thepenalty levied under Section 271 [1][c] onthe deemed income chargeable under Section2 [22] [e] of the Income Tax Act, which was https://hcservices.ecourts.gov.in/hcservices/ admitted in the revised return of incomefiled by the assessee but the appropriatetaxes was not paid by the assessee? 2. Whether on the facts andcircumstances of the case the AppellateTribunal is correct in cancelling thepenalty levied under Section 271 [1] [c]when the explanations offered by theassessee are not bona fide and deliberatefailure on the part of the assessee tooffer the deemed income?” 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 He further submittedthat as per the Circular, Tax Case Appeals have been instructedto be withdrawn, subject to the matters covered under theCircular. 4. Placing on record the above submissions, whiledismissing the Tax Case Appeal No.1012 of 2015, as withdrawn,substantial questions of law raised are left open. No costs. Sd/- Assistant Registrar(CS III) //True Copy// Sub Assistant Registrar mvs.To1. The Income Tax Appellate Tribunal,Madras 'A'Bench, Chennai. 2. The Commissioner of Income Tax (Appeals)-II, Coimbatore. 3. The Deputy Commissioner of Income Tax, Central Circle-I,Coimbatore. + 1 cc to Mr.T.R. Senthilkukar, Sr. Standing Counsel, SR.30735+ 1 cc to Mr.N.V. Balaji, Advocate SR.30481 GJ(CO)EU 23.06.16 https://hcservices.ecourts.gov.in/hcservices/