The Commissioner Of Income-Tax,Chennai v. M/S.george Oakes Ltd

IN THE HIGH COURT OF JUDICATURE OF MADRAS DATED: 16.06.2016 CORAM: THE HONOURABLE MR.JUSTICE S.MANIKUMARand THE HONOURABLE MR.JUSTICE D.KRISHNAKUMAR Tax Case(Appeal).No.1835 of 2008 The Commissioner of Income-Tax,Chennai ... Appellant -vs- M/s.George Oakes Ltd.,17, Greams Road,Chennai - 600 006 ... Respondent Tax Case Appeal filed under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal, Chennai 'A' Bench, dated 25.01.2008 passed in I.T.A.No.1715/Mds/2006. For Appellant:Mrs.R.Hemalatha Junior Standing Counsel for Income Tax Dept. For Respondent:No appearance JUDGMENT [Judgment of the Court was made by S.MANIKUMAR, J.] This Appeal has been filed against the order of the Income Tax Appellate Tribunal, 'A' Bench, Madras, dated 25.01.2008. 2. The substantial question of law raised in the instant appeal is:- "Whether on the facts and in the circumstances of the case the Income-Tax Appellate Tribunal was right in law in cancelling the penalty levied by the Commissioner of Income tax (Appeals) of Rs.10,75,000/- under section 271(1)(c) of the Income-tax Act, 1961 is valid? " 3. Mrs.R.Hemalatha, learned Junior Standing Counsel for Income Tax submitted that the tax implication in the instant appeal is less than the ceiling limit fixed by the Circular bearing No.21 of 2015, dated 10/12/2015. She further submitted that as per the Circular, Tax Case Appeals have been instructed to be withdrawn, subject to the matters covered under the circular. 4. Placing on record the above submissions, while dismissing the Tax Case Appeal No.1835 of 2008, as withdrawn, substantial question of law raised is left open. No costs. Index: Yes/NoInternet: Yes/Noars [S.M.K., J.] [D.K.K., J.]16.06.2016 To The Commissioner of Income-Tax,Chennai 3 S.MANIKUMAR, J.,and D.KRISHNAKUMAR, J.,ars Tax Case(Appeal).No.1835 of 2008 16.06.2016