The Commissioner Of Income Tax, Chennai v. M/S.bimetal Bearings Ltd., Chennai-11

In the High Court of Judicature at Madras Dated : 10.10.2018 Coram : The Honourable Mr.Justice T.S.SIVAGNANAMand The Honourable Mrs.Justice V.BHAVANI SUBBAROYAN Tax Case Appeal Nos.10 & 11 of 2016 The Commissioner of Income Tax, Chennai...AppellantVs M/s.Bimetal Bearings Ltd., Chennai-11....Respondent APPEALS under Section 260A of the Income Tax Act, 1961against the common order dated 22.5.2015 in ITA Nos.89 and90/Mds/2015 on the file of the Income Tax Appellate TribunalMadras 'C' Bench respectively for the assessment years 2005-06and 2006-07. preferred against Order of the Commissioner ofIncome Tax (Appeals) – 1, Chennai dated 25/09/2014 and itemanates from the Order dated 28/11/2007 passed by the AssistantCommissioner of Income Tax, Company 1(2), Chennai the AssessingOfficer. For Appellant : Mr.T.Ravikumar, SSC For Respondent : Mr.R.Venkata Narayanan for M/s.Subbaraya Aiyer Padmanabhan COMMON JUDGMENT(Judgment was delivered by T.S.SIVAGNANAM,J) Heard the learned counsel for the appellant. 2. These appeals by the Revenue challenge the common orderpassed by the Income Tax Appellate Tribunal, which decided theissue in favour of the assessee. 3. The Revenue seeks to withdraw the appeals on account oflow tax effect in terms of Circular No.3 of 2018 dated 11.7.2018issued by the Central Board of Direct Taxes. https://hcservices.ecourts.gov.in/hcservices/ 4. In the light of the above, the appeals are dismissed aswithdrawn and the substantial questions of law framed are leftopen. In the event, in each of the cases, the tax effect isabove the threshold limit fixed in the said circular, liberty isgranted to the Revenue to make a mention to this Court torestore the appeals to be heard and decided on merits. No costs. Sd/- Assistant Registrar(CS-IV) //True Copy// Sub Assistant Registrar To 1.The Income Tax Appellate Tribunal, Madras 'C' Bench. 2.The Commissioner of Income Tax, Chennai. 3. The Commissioner of Income Tax, (Appeals)-1, Chennai. (Appeals)-1, Chennai. 4. The Assistant Commissioner of Income, Company Circe (1(2)), Chennai. +1cc to Mr.T.Ravi Kumar, Advocate, S.R.No. 69912+1cc to Mr.Subbaraya Aiyar, Advocate, S.R.No. 70763 PP(CO)GN(26/11/2018) TCA.Nos.10 & 11 of 2016