THE PRINCIPAL COMMISSIONER OF INCOME TAX-1 vs. ABAN OFFSHORE LIMITED

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TCA/302/2024HC Madras2024/MHC/404304 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 counsel that the Department did not wish to pursue the appeal for Assessment Year 2018-19 and sought its withdrawal due to low tax effect, as per Circular No. 9 of 2024. Accordingly, the Court dismissed the tax case appeal as withdrawn. The Court explicitly left the questions of law open to be decided in an appropriate future matter. No costs were awarded. The specific findings of the ITAT or the grounds of appeal were not discussed or decided on merits.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax - 1, Chennai (the Revenue) against an order of the Income Tax Appellate Tribunal, Madras 'D' Bench, dated 08.11.2023. The appeal pertains to Assessment Year 2018-19 and concerns M/s. Aban Offshore Limited (the Assessee). The Revenue sought to withdraw the appeal. The reason cited for withdrawal was the low tax effect, in accordance with Circular No. 9 of 2024 dated 17.09.2024.

What were the issues?

1. Whether the appeal filed by the Revenue should be dismissed as withdrawn on account of low tax effect, as per departmental circular. The Revenue argued that it did not wish to pursue the appeal relating to assessment year 2018-19 and sought its withdrawal due to the low tax effect, citing Circular No. 9 of 2024 dated 17.09.2024. The judgment does not record any arguments from the Assessee.

Which sections of the Income-tax Act were involved?

Section 260A

AI-generated summary — verify with the full judgment below

2024:MHC:4043 T.C.(Appeal) No.302 of 2024 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 04.12.2024 CORAM : THE HONOURABLE DR.JUSTICE ANITA SUMANTH and THE HONOURABLE MR.JUSTICE G. ARUL MURUGAN T.C.(Appeal) No. 302 of 2024 The Principal Commissioner of Income Tax - 1 Chennai

.. Appellant vs M/s.Aban Offshore Limited No.113, Janpriya Crest, Pantheon Road Egmore, Chennai – 600 008. PAN: AAACA-3012-H .. Respondent Prayer: Appeal filed under Section 260A of the Income Tax Act, 1961 against order of the Income Tax Appellate Tribunal, Madras 'D' Bench, dated 08.11.2023 in IT(TP) No.40/Chny/2022 for Assessment Year 2018-19. For Appellant :: Mr.Avinash Krishnan Ravi Junior Standing Counsel DR. ANITA SUMANTH.,J. https://www.mhc.tn.gov.in/judis T.C.(Appeal) No.302 of 2024 and G. ARUL MURUGAN.,J. JUDGMENT (Delivered by Dr. ANITA SUMANTH.,J) Mr.Avinash Krishnan Ravi, learned Junior Standing Counsel appearing for the appellant/Department would submit that the Income-Tax Department does not wish to pursue the appeal relating to assessment year 2018-19 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, the tax case appeal is dismissed as withdrawn leaving the questions of law open to be decided in an appropriate matter. No costs. [A.S.M., J] [G.A.M., J]

04.12.2024 sl Index:Yes/No Neutral Citation:Yes Speaking order T.C.(A) No.302 of 2024 https://www.mhc.tn.gov.in/judis

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