The Commissioner Of Income Tax, Chennai v. M/S.somayajulu & Company Ltd
High Court
29 Oct 2018 In favour of: Assessee
Forum / Bench
High Court · hc_cis_mas
Parties
The Commissioner Of Income Tax, Chennai v. M/S.somayajulu & Company Ltd
Date of order
29 Oct 2018
Assessment year(s)
1996-97
Outcome
Dismissed
Case summary
In The Commissioner Of Income Tax, Chennai v. M/S.somayajulu & Company Ltd, the High Court (2018) dismissed the appeal. The decision went in favour of the assessee.
Decision: In the light of the above, the appeal is dismissed as withdrawn and the substantial questions of law framed are left open.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
Sections referenced in this judgment
The order — as passed by the High Court
In the High Court of Judicature at Madras
Dated : 29.10.2018
Coram :
The Honourable Mr.Justice T.S.SIVAGNANAM
and
The Honourable Mrs.Justice V.BHAVANI SUBBAROYAN
Tax Case Appeal No. 1147 of 2007
The Commissioner of Income Tax, Chennai
Vs
M/s.Somayajulu & Company Ltd.,C/o. M/s.C.Ramasamy & B.Srinivasan,Chartered Accountants, Flat No. 4,II Floor, 102-A, Rangarajapuram Main Road,Kodambakkam, Chennai – 24.
...Appellant
...Respondent
Appeal under Section 260A of the Income Tax Act, 1961 is directed
against the order dated 22.12.2006 in ITA No.1790/Mds/1999 on the file of
the Income Tax Appellate Tribunal Madras 'C' Bench for the assessment year 1996-97.
For Appellant : Mr.T.R.Senthilkumar andMs.K.G.Usharani
For Respondent : No appearance
JUDGMENT
(Judgment was delivered by T.S.SIVAGNANAM,J)
Heard the learned counsel for the appellant.
T.S.SIVAGNANAM,JANDV.BHAVANI SUBBAROYAN,J
mrm
2. This appeal by the Revenue is challenged against the order passed by the Income Tax Appellate Tribunal, which decided the issue in favour of the assessee.
3. The Revenue seeks to withdraw this appeal on account of low tax
effect in terms of Circular No.3 of 2018 dated 11.7.2018 issued by the Central Board of Direct Taxes.
4. In the light of the above, the appeal is dismissed as withdrawn and the substantial questions of law framed are left open. In the event, the tax effect is above the threshold limit fixed in the said circular, liberty is granted to the Revenue to make a mention to this Court to restore the appeals to be
heard and decided on merits.
Speaking (or) Non Speaking OrderIndex : Yes (or) NoInternet : Yes (or) No
(T.S.S.J.) (V.B.S.J.) 29.10.2018
To
The Income Tax Appellate Tribunal, Madras 'D' Bench.
TCA No. 1147 of 2007
http://www.judis.nic.in
This page reproduces a public-domain court order (Section 52(1)(q)(iv), Copyright Act 1957). Explanations are EaseValue's original analysis. Always read the original order.
Disclaimer: General information only — not legal, tax or professional advice, and no advocate/CA–client relationship is created. AI-generated summaries may contain errors and must be verified against the original court order. EaseValue accepts no liability for reliance on this content. Not a solicitation.
Full disclaimer & Terms.
EaseValue