The Commissioner Of Income Taxchennai v. Shri N.k.v.krishna

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 17.03.2025 CORAM THE HONOURABLE MR. JUSTICE S.S. SUNDAR AND THE HONOURABLE MR. JUSTICE C.SARAVANAN TCA.No.673/2013 The Commissioner of Income TaxChennai ... Appellant Vs. Shri N.K.V.Krishna ... Respondent Common Prayer: Tax Case Appeal preferred under Section 260A of the Income Tax Act, 1961, against the order of Income Tax Appellate Tribunal, Madras 'B' Bench, Chennai dated 04.11.2011 passed in ITA.No.1381/Mds/2011. For Appellant : Mr.Karthik Ranganathan Senior Standing Counsel For Respondent : Mr.M.Velmurugan JUDGMENT TCA.No.673/2013 [Delivered by S.S.SUNDAR, J.,] (1)This appeal is directed against the order of the Income Tax Appellate Tribunal,'B'Bench,Chennai,dated04.11.2011in ITA.No.1381/Mds/2011. In this appeal, the appellant has raised the ITA.No.1381/Mds/2011. In this appeal, the appellant has raised the following substantial questions of law to be answered:- (1)Whether in the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in not sustaining the addition of Rs.2,54,98,454/- for the assessment year 2005-06?Appellate Tribunal was right in not sustaining the addition of Rs.2,54,98,454/- for the assessment year 2005-06? (2)Whether in the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in cancelling the reassessment orders holding that the notice issued under Section 148 for various assessment years was not proper?Appellate Tribunal was right in cancelling the reassessment orders holding that the notice issued under Section 148 for various assessment years was not proper? (2)Learned Senior Standing counsel appearing for the appellant submitted that the amounts involved in the present appeals are below the monetary limit as per the Circular issued by the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes in Circular No.5/2024 and 09/2024 dated 15.03.2024 and 17.09.2024 respectively.that the amounts involved in the present appeals are below the monetary limit as per the Circular issued by the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes in Circular No.5/2024 and 09/2024 dated 15.03.2024 and 17.09.2024 respectively. (3)In view of the aforesaid submissions made by the learned Senior standing counsel for the appellant, the appeal is dismissed as withdrawn. However, the substantial questions of law are left open. No costs. TCA.No.673/2013 AP [S.S.S.R., J.] [C.S.N., J.] 17.03.2025 Internet : Yes ToThe Commissioner of Income TaxChennai. TCA.No.673/2013 S.S. SUNDAR, J.,andC.SARAVANAN, J., AP TCA.No.673/2013 17.03.2025