THE COMMISSIONER OF INCOME T vs. M/S SHRI HOUSING PVT LTD

T.C.A.No.345 of 2015 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED 23.08.2022 CORAM THE HON'BLE Mr. JUSTICE R. MAHADEVAN AND THE HON'BLE Mr. JUSTICE MOHAMMED SHAFFIQ Tax Case Appeal No.345 of 2015 The Commissioner of Income Tax Chennai .. Appellant Vs. M/s.Shri Housing P Ltd. No.5F, 5th Floor, Mookambika Complex Lady Desika Road, Mylapore Chennai 600 004 .. Respondent Tax Case Appeal filed under Section 260A of the Income Tax Act, 1961 against the order dated 22.07.2011 passed by the Income Tax Appellate Tribunal, 'D' Bench, Chennai, in I.T.A.No.1892/Mds/2008. For Appellant : Mr.J.Narayanaswamy

Standing Counsel 1/4 https://www.mhc.tn.gov.in/judis T.C.A.No.345 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, calling in question the correctness of the order dated 22.07.2011 passed by the Income Tax Appellate Tribunal, 'D' Bench, Chennai, in I.T.A.No.1892/Mds/2008, relating to the assessment year 2003-04. 2. By order dated 17.08.2015, this Court admitted the aforesaid tax case appeal on the following substantial question of law : “Whether on the facts and in the circumstances of the case, the Income Tax Tribunal was right in upholding the order of Commissioner of Income Tax (Appeals), who allowed the expenses amounting to Rs.30,70,052/- even though the assessee was following the project completion method of accounting?” 3. When the matter was taken up for consideration, the learned Standing 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 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 Standing 2/4 https://www.mhc.tn.gov.in/judis T.C.A.No.345 of 2015 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the present appeal, wherein, the tax effect is said to be less than the monetary limit imposed, is dismissed as withdrawn, keeping open the substantial question of law for determination in an appropriate case. No costs. [R.M.D,J.] [M.S.Q, J.] 23.08.2022 Internet : Yes gya To 1.The Income Tax Officer Company Circle-VI(2) Chennai 2.The Commissioner of Income Tax (Appeals)-IX Chennai 600 034 3.The Income Tax Appellate Tribunal 'D' Bench, Chennai R. MAHADEVAN, J. AND 3/4 https://www.mhc.tn.gov.in/judis T.C.A.No.345 of 2015 MOHAMMED SHAFFIQ, J. gya Tax Case Appeal No.345 of 2015 23.08.2022

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