The Commissioner Of Income Tax,Tamil Nadu – Iii,Madras v. M/S. Indus Finance Limited,Kikani Towers Ii Floor,Chennai – 600 006

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 06.01.2021 CORAM THE HON'BLE MR.JUSTICE M. DURAISWAMYANDTHE HON'BLE MRS.JUSTICE T.V. THAMILSELVI Tax Case No.303 of 2008 The Commissioner of Income Tax,Tamil Nadu – III,Madras ... Appellant Vs. M/s. Indus Finance Limited,Kikani Towers II Floor,Chennai – 600 006. [Respondent name amended videorder of this court dated 14.12.2016 made in T.C.No.303/2008] ... Respondent Tax Case filed under Section 260A of the Income Tax Act,1961 against the order of the Income Tax Appellate Tribunal,Madras 'C' Bench, Chennai, dated 15.06.2007 passed inI.T.A.No.436/Mds/2002, against the order dated 05/03/2002 madein ITA No.436/2001-2002 passed by the Commissioner of Income Tax(Appeals)-V, Chennai against the Assessment Order dated16/03/2021, made in GIR No.465 passed by Income Tax Department,Joint Commissioner of Income- Tax, Special Range-X, Chennai forthe Assessment year 1998-99. For Appellant : Mr. M.Swaminathan Standing Counsel For Respondent : Mr. Koushik J U D G M E N T(Delivered by M. DURAISWAMY,J) This Tax Case has been filed by the Revenue calling inquestion the correctness of the order passed by the Income TaxAppellate Tribunal, Madras 'C' Bench, Chennai, by raising thefollowing substantial question of law:-" Whether on the facts and in the circumstances ofthe case the Appellate Tribunal was right in setting https://hcservices.ecourts.gov.in/hcservices/ aside the order of the Commissioner of Income Tax(Appeals) and direct the assessing officer to allowthe 100% depreciation on the two wind mills of theassessee, even though the assessee was not provedthe ownership of the two wind mills to claimdepreciation under section 32 of the Income TaxAct?" 2. When the matter is taken up for hearing, the learnedStanding Counsel brought to our notice the Circular instructionissued by the Central Board of Direct Taxes vide CircularNo.17/2019 dated 8th August 2019, wherein, it is stipulated thatappeals shall not be filed/pursued by the Department before theHigh Court in cases where the tax effect does not exceedRs.1,00,00,000/- (Rupees One Crore). 3. In the instant case, the tax effect is said to be lessthan the monetary limit imposed and therefore, the Tax Casefiled by the Revenue is dismissed as not pressed, keeping openthe substantial question of law for determination in anappropriate case. No costs. Sd/- Assistant Registrar(CS IX) //True Copy// Rj Toi Sub Assistant Registrar 1.The Commissioner of Income Tax, Tamil Nadu-III, Madras. 2.The Income Tax Appellate Tribunal, 'c' Bench, Chennai. 3.The Commissioner of Income Tax (A)-V, Chennai-34. 4.The Joint Commissioner of Income Tax, Special Range X, Chennai. rld[co]srg 01/02/2021