The Commissioner Of Income Tax Chennai v. M/S. R.r.industries Limitedrr Towers Thiru-Vi-Ka Industrial Estateguindychennai 600 032

IN THE HIGH COURT OF JUDICATURE AT MADRASDated: 28/6/2016 C O R A M The Honourable Mr.Justice S.ManikumarandThe Honourable Mr.Justice D.Krishnakumar Tax Case Appeal No.562 of 2014 The Commissioner of Income Tax Chennai....Appellant Vs M/s. R.R.Industries LimitedRR Towers Thiru-vi-ka Industrial EstateGuindyChennai 600 032....Respondent Prayer:Appeal filed against the order of the Income TaxAppellate Tribunal, Madras 'A' Bench, Chennai dated 17/2/2012 inITA No.1256/Mds/2011 against the order of the Commissioner ofIncome Tax (Appeals) V, 121, Mahatma Gandhi Road, Chennai 34 inITA No.111/10-11 dated 28.04.2011. For appellant : Mr.T.Ravikumar Senior Standing Counsel for Income Tax.For respondent : No appearance (Judgment of the Court was made by S.Manikumar,J)This Appeal has been filed against the order of the IncomeTax Appellate Tribunal, 'A' Bench, Madras, dated 17/2/2012. 2. The substantial questions of law raised in the instantappeal are:- “1. Whether in the facts and in thecircumstances of the case, the Tribunal wasright in holding that the charges paid forvaluation of real estate portfolio are https://hcservices.ecourts.gov.in/hcservices/ revenue in nature and to be allowed asbusiness expenditure?2. Whether in the facts andcircumstances of the case, the Tribunal wasright in holding that consultancy fee paidfor prospective IPO are to be treated asbusiness expenditure merely because the IPOwas shelved?” 3. Mr.T.RaviKumar, learned Senior Standing Counsel forIncome 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 He further submittedthat as per the Circular, Tax Case Appeal has been instructed tobe withdrawn. 4. Placing on record the above submissions, whiledismissing the Tax Case Appeal No.562 of 2014, as withdrawn,substantial questions of law raised are left open. No costs. Sd/- Assistant Registrar(CS VII) //True Copy// Sub Assistant Registrar mvs. To 1. The Income Tax Appellate Tribunal,Madras A Bench, Chennai. 2. The Commissioner of Income Tax V,121, Mahatma Gandhi Road,Chennai 34. Tax Case Appeal No.562 of 2014 ks cokra 14.07.2016