The Commissioner Of Income Tax, Chennai v. M/S.sundaram Fasteners & Investment Ltd., Chennai-4

In the High Court of Judicature at Madras Coram : The Honourable Mr.Justice T.S.SIVAGNANAM and The Honourable Mrs.Justice V.BHAVANI SUBBAROYAN Tax Case Appeal No.422 of 2012 The Commissioner of Income Tax, Chennai ...AppellantVsM/s.Sundaram Fasteners & InvestmentLtd., Chennai-4...Respondent APPEAL under Section 260A of the Income Tax Act, 1961against the order dated 08.5.2012 in ITA No.388/Mds/2012 on thefile of the Income Tax Appellate Tribunal Chennai 'A' Bench forthe assessment year 2007-08, against the Order dated 29/11/2011in ITA No.299/10-11 passed by the Commissioner of Income Tax,Appeals-VI, Chennai and against the order dated 08/12/2009passed by the Assistant Commissioner of Income Tax, CompanyCircle VI (4), Chennai for the Assessment Year 2007-2008.For Appellant : Mr.T.R.Senthilkumar & Ms.K.G.UsharaniFor Respondent : Mr.R.Venkata Narayanan for M/s.Subbaraya Aiyer PadmanabhanJudgment was delivered by T.S.SIVAGNANAM,JHeard the learned counsel for the appellant. 2. This appeal by the Revenue challenges the order passed bythe Income Tax Appellate Tribunal, which decided the issue infavour of the assessee. https://hcservices.ecourts.gov.in/hcservices/ 3. The Revenue seeks to withdraw the appeal on account oflow tax effect in terms of Circular No.3 of 2018 dated 11.7.2018issued by the Central Board of Direct Taxes. 4. In the light of the above, the appeal is dismissed aswithdrawn and the substantial questions of law framed are leftopen. In the event the tax effect is above the threshold limitfixed in the said circular, liberty is granted to the Revenue tomake a mention to this Court to restore the appeal to be heardand decided on merits. No costs. Sd/- Assistant Registrar(CS V) //True Copy// Sub Assistant Registrar To1.The Income Tax Appellate Tribunal, Chennai 'A' Bench.2.The Assistant Registrar, Income Tax Appellate Tribunal, Besant Nagar, Chennai-90.3.The Director, Central Board of Direct Taxes, New Delhi. +1cc to M/S.T.R.Senthilkumar, Advocate Sr.71432 +1cc to M/S.Subbaraya Aiyer Padmanabhan, Advocate sr.71173 TCA.No.422 of 2012 sa I[co]srg 15/11/2018