COMMISSIONER OF INCOME TAX II vs. M/S.GWL PROPERTIES LTD

TCA/1033/2015HC Madras2024/MHC/402602 December 2024Bench: Honourable Dr Justice ANITA SUMANTH2 pages

AI SummaryWithdrawn

What did the High Court hold?

The High Court recorded the submission of the Revenue's Senior Standing Counsel that the Income-Tax Department does not wish to pursue the appeal for assessment year 2005-06 and seeks its withdrawal due to the low tax effect, as per Circular No. 9 of 2024 dated 17.09.2024. Accordingly, the Court dismissed the tax case appeal as withdrawn. The Court explicitly stated that the question of law remains open to be decided in an appropriate matter. No costs were awarded.

What were the facts?

The appeal was filed by the Commissioner of Income-Tax III, Chennai, against an order of the Income Tax Appellate Tribunal, Madras 'A' Bench, dated 15.05.2015 in ITA No.79/Mds/2015. The assessee is M/s. GWL Properties Ltd. (formerly known as Gordon Woodrafee Ltd.). The appeal pertains to assessment year 2005-06. The Revenue sought withdrawal of the appeal due to low tax effect, citing Circular No. 9 of 2024 dated 17.09.2024.

What were the issues?

1. Whether the appeal should be dismissed as withdrawn by the Revenue on account of low tax effect, as per Circular No. 9 of 2024. Contentions: Assessee: No specific contentions recorded for the assessee in the judgment. Revenue: The Revenue, through its Senior Standing Counsel, submitted that it does not wish to pursue the appeal for assessment year 2005-06 and seeks withdrawal of the same on account of the low tax effect, referencing Circular No. 9 of 2024 dated 17.09.2024.

Which sections of the Income-tax Act were involved?

Section 260A

AI-generated summary — verify with the full judgment below

2024:MHC:4026 T.C.A.No.1033 of 2015 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 02.12.2024 CORAM : THE HONOURABLE DR.JUSTICE ANITA SUMANTH and THE HONOURABLE MR.JUSTICE G. ARUL MURUGAN T.C.A.No.1033 of 2015 The Commissioner of Income-Tax III, No.121, Mahatma Gandhi Road, Chennai .. Appellant vs M/s. GWL Properties Ltd., (Formerly known as Gordon Woodrafee Ltd.,) 36, Rajaji Salai, Chennai – 600 001. PAN : AAA CM 2338 A .. Respondent Prayer : Appeal filed under Section 260A of the Income Tax Act, 1961 against order of the Income Tax Appellate Tribunal, Madras 'A' Bench, dated 15.05.2015 in ITA No.79/Mds/2015. For Appellant : Mr.T.Ravikumar Senior Standing Counsel For Respondent : Mr.N.V.Balaji 1/2 https://www.mhc.tn.gov.in/judis T.C.A.No.1033 of 2015 DR. ANITA SUMANTH.,J. and G. ARUL MURUGAN.,J. JUDGMENT (Delivered by Dr. ANITA SUMANTH.,J) Mr.T.Ravikumar, learned Senior Standing Counsel, appearing for the appellant/Department would submit that the Income-Tax Department does not wish to pursue this appeal qua assessment year 2005 - 06 and seeks withdrawal of the same on account of the low tax effect per Circular bearing No.9 of 2024 dated 17.09.2024. 2. Recording the aforesaid submission, this tax case appeal is dismissed as withdrawn leaving the question of law open to be decided in an appropriate matter. No costs. [A.S.M., J] [G.A.M., J]

02.12.2024 Index:Yes/No Neutral Citation:Yes ssm T.C.A.No.1033 of 2015 2/2 https://www.mhc.tn.gov.in/judis

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