The Commissioner Of Income Tax, Chennai v. M/S.ontrack Systems Ltd., Bhatad Towers, Office

IN THE HIGH COURT OF JUDICATURE AT MADRASDated: 29.06.2016 C O R A M The Honourable Mr.Justice S.MANIKUMARandThe Honourable Mr.Justice D.KRISHNAKUMAR Tax Case Appeal No.844 of 2013 The Commissioner of Income Tax,Chennai...AppellantVs M/s.Ontrack Systems Ltd.,Bhatad Towers, Office No.1,3rd Floor, 30 West Cott Road,Royapettah, Chennai - 14...Respondent Prayer : Appeal filed against the order of the Income TaxAppellate Tribunal, Madras 'A' Bench, Chennai dated 26.03.2013in ITA No.2098/Mds/2011 (Assessment Year 2002-03)which was filedagainst this order of the Commissioner of Income Tax (Appeals)in ITA.No.466/20-11 dated 16.09.2011. against the Assessment order for the Assessment Year 2002-03in PAN.AAAC000679E/51089-P dated 26.11.2007 passed by the Asst.Commissioner of Income Tax, Company Circle V(1) Chennai-34. For appellant : Mr.T.Ravikumar Sr. Standing Counsel for Income Tax. For respondent : No appearance J U D G M E N T(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, Chennai, dated 26.03.2013 inITA No.2098/Mds/2011 for the Assessment Year 2002-03. 2. The substantial question of law raised in the instantappeal is:-“Whether under the facts and circumstances ofthe case, the Income Tax Appellate Tribunal was rightin holding that brought forward unabsorbeddepreciation and losses of the unit, the income ofwhich is not eligible for deduction under Section 10A https://hcservices.ecourts.gov.in/hcservices/ of the Income Tax Act cannot be set off against thecurrent profits of the eligible unit while computingthe deduction under Section 10A of the Act?" 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 He further submittedthat as per the Circular, Tax Case Appeals have been instructedto be withdrawn, subject to the matters covered under thecircular and there is no audit objection also. 4. Placing on record the above submissions, whiledismissing the Tax Case Appeal No.844 of 2013, as withdrawn,substantial question of law raised is left open. No costs. Sd/- Assistant Registrar(CS III) //True Copy// Sub Assistant Registrar arsTo 1. The Income Tax Appellate Tribunal, Madras 'A' Bench Chennai. 2. The Assistant Commissioner of Income Tax, Company Circle -V(1) Chennai - 34. 3. The Commissioner of Income Tax(Appeals)-VI, Chennai-34. + 1 cc to Mr.T. Ravikumar, Advocate SR.36231 Tax Case Appeal No.844 of 2013 CTK(CO)Eu 27.6.16