PRINCIPAL COMMISSIONER OF IN vs. M/S M.CT.M.GLOBAL INVESTMENT

Tax Case Appeal No. 240 of 2019 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 31.10.2022 CORAM : THE HONOURABLE MR. JUSTICE S.VAIDYANATHAN AND THE HONOURABLE MR. JUSTICE C.SARAVANAN Tax Case Appeal No.240 of 2019 & C.M.P. No. 6907 of 2019 The Principal Commissioner of Income-tax Central 4, No.121, Mahatma Gandhi Road, Chennai.

.. Appellant Versus M/s. M.Ct.M. Global Investments Pvt Ltd., 761, Anna Salai, Chennai – 600 002. PAN: AAB CM 9738 K

.. Respondent Tax Case Appeal filed under Section 260A of the Income Tax Act, 1961 against the order dated 21.10.2016 in ITA No.115/Mds/2012 passed by the Income Tax Appellate Tribunal, Madras “A” Bench. For Appellant :: Mr.Karthik Ranganathan For Respondent :: Ms.S. Sreelakshmi Valli 1/4 https://www.mhc.tn.gov.in/judis Tax Case Appeal No. 240 of 2019 J U D G M E N T S.VAIDYANATHAN, J and C.SARAVANAN, J This Tax Case Appeal has been filed by the Appellant / Revenue, calling in question the correctness of the order dated 21.10.2016 passed by the Income Tax Appellate Tribunal, 'A' Bench, Chennai, in I.T.A.No115/Mds/2012, relating to the assessment year 2008-09. 2. When the matter was taken up for consideration, the learned counsel for the appellant / Revenue brought to the notice of this court the Circular No.17/2019 dated 08.08.2019 issued by the Central Board Direct Taxes, wherein, it is stipulated that appeals 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. 3. 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 2/4 https://www.mhc.tn.gov.in/judis Tax Case Appeal No. 240 of 2019 less than the monetary limit imposed, is dismissed as withdrawn, keeping open the substantial question of law for determination in appropriate cases. No costs. Connected C.M.P. is closed. 4. Registry is directed to return the original order, if any enclosed along with this Appeal after retaining a copy of the same in the court bundle. [S.V.N, J.] [C.S.N, J.] 31.10.2022 5/6

Internet : Yes

Index : Yes / No nv To 1. The Income Tax Appellate Tribunal, Chennai “A” Bench. 2.The Assistant Commissioner of Income Tax , Company Circle-IV(3), Chennai 34. 3.The Commissioner of Income Tax (Appeals) - V, Chennai. 3/4 https://www.mhc.tn.gov.in/judis Tax Case Appeal No. 240 of 2019 S . VAIDYANATHAN, J.

AND C.SARAVANAN

, J . nv T.C.A. No. 240 of 2019 31.10.2022 4/4 https://www.mhc.tn.gov.in/judis