Dismissed

Principal Commissioner v. Shri Mayank Singhania

Madras HC2 Nov 2018TCA/698/2017

Case brief

AI extract

What is this about?

The High Court dismissed the Income Tax Appeal raised by the Revenue as withdrawn by them. The court noted the withdrawal was due to low tax effect per Cbdt Circular No.3 of 2018, leaving the substantive legal issues open for future restoration if the limit is exceeded.

What did the court decide?

Appeal dismissed as withdrawn; substantial questions of law left open; liberty granted for restoration if tax effect exceeds Circular limit.

Principal Commissioner Vs Shri Mayank Singhania — Income Tax | Madras HC (2018)

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In the High Court of Judicature at Madras

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Dated : 02.11.2018

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Coram :

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The Honourable Mr.Justice T.S.SIVAGNANAM

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and

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The Honourable Mrs.Justice V.BHAVANI SUBBAROYAN

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Tax Case Appeal No.698 of 2017

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Principal Commissioner of Income Tax-2, Coimbatore ...Appellant Vs Shri Mayank Singhania ...Respondent

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APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 16.5.2017 in ITA No.2555/Mds/2016 on the file of the Income Tax Appellate Tribunal Madras 'A' Bench for the assessment year 2012-13 against the order of the commissioner of Income Tax (Appeals)-3, Coimbatore made in IT Appeal No.105/15-16, dated 27.05.2016 for the assessment year 2012-13 and against the order of the Income Tax Officer, Non Corporate Ward 4(3), Room No.208, 2nd floor Race Course Road Coimbatore made in PAN No.AOGPM8725A

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For Appellant : Mr.T.R.Senthilkumar

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For Respondent : No appearance

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Judgment was delivered by T.S.SIVAGNANAM,J

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Heard the learned counsel for the appellant.

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This appeal by the Revenue challenges the order passed by the Income Tax Appellate Tribunal, which decided the issue in favour of the assessee.

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The Revenue seeks to withdraw the appeal on account of low tax effect in terms of Circular No.3 of 2018 dated 11.7.2018 issued by the Central Board of Direct Taxes.

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https://hcservices.ecourts.gov.in/hcservices/

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In the light of the above, the appeal is dismissed as withdrawn and the substantial questions of law framed are left open. In the event, the tax effect is above the threshold limit fixed in the said circular under exceptional clauses mentioned in the circular, liberty is granted to the Revenue to make a mention to this Court to restore the appeal to be heard and decided on merits.

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Sd/Assistant Registrar(CS IX)

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//True Copy//

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Sub Assistant Registrar
RS
To
1. The Income Tax Appellate Tribunal, Madras 'A' Bench.
2. The Commissioner of Income Tax (Appeals)-3, Coimbatore.
3. The Income Tax Officer,
Non Corporate Ward-4(3),
Room No.208, 2nd Floor, Race Course Raod,
Coimbatore.
TCA.No.698 of 2017
CP(CO)
CSL/17.12.2018

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https://hcservices.ecourts.gov.in/hcservices/

Principal Commissioner v. Shri Mayank Singhania

Case brief

What is this about?

What did the court decide?

Principal Commissioner v. Shri Mayank Singhania

Case brief

What is this about?

What did the court decide?

What the court decided

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Cases cited

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