The Commissioner Of Income Tax-Iii Coimbatore v. M/S.sulochana Cotton Spinning Mills (P) Ltd 424 & 426 Kamaraj Road Tirupur

IN THE HIGH COURT OF JUDICATURE AT MADRAS Dated: 8/6/2016 C O R A M The Honourable Mr.Justice S.ManikumarandThe Honourable Mr.Justice D.Krishnakumar Tax Case Appeal No.1340 of 2009 The Commissioner of Income Tax-IIICoimbatore....Appellant VsM/s.Sulochana Cotton Spinning Mills (P) Ltd424 & 426 Kamaraj RoadTirupur....Respondent M/s.Sulochana Cotton Spinning Mills (P) Ltd424 & 426 Kamaraj RoadTirupur.... Prayer:Appeal filed against the order of the Income TaxAppellate Tribunal, Madras 'C' Bench, Chennai, dated 9/7/2009 inITA No.2091/Mds/2008 against the order of the Commissioner ofIncome Tax (Appeals) II Coimbatore in IT Appeal No.149C/2007-2008 order dated 20.08.2008 arising out of the order of theAssitant Commissioner of Income Tax Circle I, Tirupur in PANIGIRNo.AADCS8189G/S21 order dated 31.12.2007. For appellant : Mr.T.R.Senthil Kumar Senior Standing Counsel for Income Tax. For respondent: Mr.R.Sivaraman This Appeal has been filed against the order of the IncomeTax Appellate Tribunal, 'C' Bench, Madras, dated 9/7/2009. 2. The substantial question of law raised in the instantappeal is:- “Whether on the facts and in thecircumstances of the case, the Appellate https://hcservices.ecourts.gov.in/hcservices/ Tribunal was right in law in holding thatnet profits is to be computed only afterdeducting the prior period expenditurecharged to the appropriate portion of theProfits and Loss Account under Section 115JB of the Act is valid?” 3. Mr.T.R.Senthil Kumar, learned Senior Standing Counselfor Income 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 Appeals have been instructed to bewithdrawn, subject to the matters covered under the Circular. 4. Placing on record the above submissions, whiledismissing the Tax Case Appeal No.1340 of 2009, as withdrawn,substantial question of law raised is left open. No costs. mvs.Sd/-Assistant Registrar(J) //True Copy// Sub Assistant Registrar To 1. The Commissioner of Income Tax IIICoimbatore. 2. The Registrar,Income tax Appellate Tribunal,Madras C Bench, Chennai. 3. The Commissioner of Income Tax (Appeals II),Coimbatore. 4. The Assistant Commissioner of Income Tax,Circle I, Tirupur. Tax Case Appeal No.1340 of 2009lrs cokra 22.06.2016