THE COMMISSIONER OF vs. M/S. TAMILNADU PETROPRODUCTS

T.C.A.No.238 of 2015 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 24.08.2022 CORAM : THE HON'BLE MR. JUSTICE R. MAHADEVAN AND THE HON'BLE MR. JUSTICE MOHAMMED SHAFFIQ T.C.A.No.238 of 2015 The Commissioner of Income Tax, Chennai. ... Appellant Versus M/s.Tamilnadu Petroproducts Ltd., No.9, Manali Express Road, Manali, Chennai - 600 068. ... Respondent Appeal preferred under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal, Chennai, “C” Bench, dated 24.02.2012 in I.TA.No.373/Mds/2011. For Appellant : Mr.T.Ravi Kumar Senior Standing Counsel Page 1/4 https://www.mhc.tn.gov.in/judis T.C.A.No.238 of 2015 J U D G M E N T (Judgment was delivered by R.MAHADEVAN, J.) This tax case appeal has been filed by the appellant / Revenue, challenging the order dated 24.02.2012 passed by the Income Tax Appellate Tribunal, Madras 'C' Bench in I.T.A.No.373/Mds/2011, relating to the assessment year 2002-03. 2. By order dated 22.07.2015, this court admitted the aforesaid tax case appeal on the following substantial questions of law: "(i) Whether on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the reopening of assessment made by AO was invalid? (ii) Is not the finding of the Tribunal bad especially when the Assessing Officer reopened the assessment as income had escaped assessment for restricting the excess deduction allowed on Miscellaneous income, interest receipt, discount from total turnover and for disallowance which was to be made under Section 14A?” 3. When the matter was taken up for consideration, the learned counsel for the appellant / Revenue brought to the notice of this court the Circular Page 2/4 https://www.mhc.tn.gov.in/judis T.C.A.No.238 of 2015 No.17/2019 dated 08.08.2019 issued by the Central Board Direct Taxes, wherein, it is stipulated that appeal shall not be filed/pursued by the Department before the High Court in cases where the tax effect does not exceed Rs.1,00,00,000/- (Rupees One Crore). It is also submitted that the tax effect in this appeal is less than the threshold limit. 4. In the light of the aforesaid submissions made by the learned counsel for the appellant / Revenue, the present appeal, wherein, the tax effect is said to be less than the monetary limit imposed, is dismissed as withdrawn, keeping open the substantial questions of law for determination in an appropriate case. No costs. (R.M.D., J.) (M.S.Q., J.) 24.08.2022 r n s

Internet : Yes.

Index : Yes / No. Page 3/4 https://www.mhc.tn.gov.in/judis T.C.A.No.238 of 2015 R. MAHADEVAN, J. and MOHAMMED SHAFFIQ, J. r n s To 1. The Income Tax Appellate Tribunal 'C' Bench, Chennai. 2. The Commissioner of Income Tax, (Appeals), Chennai. 3. The Assistant Commissioner of Income Tax, Larger Taxpayer Unit, Chennai. T.C.A.No.238 of 2015 24.08.2022 Page 4/4 https://www.mhc.tn.gov.in/judis