The Commissioner Of Income Tax,Business Ward V (1), Chennai v. Shri A.m.vijayarangam

IN THE HIGH COURT OF JUDICATURE AT MADRAS CORAM : THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAMAND THE HONOURABLE MRS.JUSTICE V.BHAVANI SUBBAROYAN TAX CASE APPEAL NOS.1239 & 1240 OF 2015 The Commissioner of Income Tax,Business Ward V (1), Chennai ...Appellant inboth TCAs Vs Shri A.M.Vijayarangam...RespondentinTCA.No.1239/2015Mrs.P.A.Sarala...Respondent inTCA.No.1240/2015 APPEALS under Section 260A of the Income Tax Act, 1961against the common order dated 15.5.2015 respectively in ITANos.1397 and 1396/Mds/ 2013 on the file of the Income TaxAppellate Tribunal Chennai 'A' Bench for the assessment year2009-10. against the order of the Commissioner of Income Tax(Appeals)XI,ChennaiI.T.A.Nos.328/2011-12,doandI.T.A.NOs.344/2011-12 dated 28.03.2013 against the order of theIncome Tax Officer, Business Ward -I(4), West Tambaram,Chennai-45 in PAN/GIR.Nos. and dated30.12.2011 for the Assessment Year 2009-10. COMMON JUDGMENT (Judgment was delivered by T.S.SIVAGNANAM,J) 2. The Revenue has preferred these appeals challenging thecommon order dated 15.5.2015 passed by the Income Tax AppellateTribunal respectively in ITA.Nos.1397 and 1396/Mds/2013 for theassessment year 2009-10. 3. The above appeals have been admitted on 18.1.2016 on thefollowing substantials question of law :“1. Whether, on the facts andcircumstances of the case, the Income Tax https://hcservices.ecourts.gov.in/hcservices/ Appellate Tribunal was right in law inholding that the capital gain is to beassessed for the assessment year 2007-08 andnot in the assessment year 2009-10, when theassessee himself has admitted capital gainfor the assessment year 2009-10 ? and 2. Whether on the facts andcircumstances of the case, the Income TaxAppellate Tribunal was right in law inholding that the assessee is eligible forexemption under Section 54F even thoughmultiple flats at different blocks wereallotted to them in lieu of cost of 60% ofthe land transferred to the builder ?” 4. The learned Standing Counsel for the appellant seekspermission to withdraw the above appeals based on the Board'smonetary policy circular. She would submit that on account ofthe monetary limits in these appeals, which are lesser than thethreshold fixed by the Board's circular dated 11.7.2018, she maybe permitted to withdraw the appeals. 5. The said submission of the learned Standing Counsel forthe Revenue is placed on record. The above tax case appeals aredismissed as withdrawn and the substantial questions of lawframed in these appeals are left open. No costs. Sd/- Assistant Registrar(CS IX) //True Copy// To Sub Assistant Registrar 1.The Income Tax Appellate Tribunal, Chennai 'A' Bench. 2.The Commissioner of Income Tax (Appeals)XI,Chennai 3.The Income Tax Officer,Business Ward-1(4), Tambaram,West Tambaram, Chennai-45. TCA.Nos.1239 & 1240 of 2015 NMI(CO)CS/16/10/2018