COMMISSIONER OF INCOME TAX vs. M/S. ALTIUS SECURITIES TRADING

TCA/865/2015HC Madras2026/MHC/433927 October 2026Bench: Honourable Dr.Justice ANITA SUMANTH4 pages

AI SummaryWithdrawn

What did the High Court hold?

The High Court recorded the submission of the learned Senior Standing Counsel for the appellant/Department that the Income-Tax Department did not wish to pursue the Tax Case (Appeals) for assessment years 2007-08 and 2008-09. This withdrawal was sought on account of low tax effect, as per Circular No. 9 of 2024 dated 17.09.2024. Accordingly, the Court dismissed both Tax Case (Appeals) as withdrawn. The Court explicitly stated that the questions of law remain open to be decided in an appropriate matter. No costs were awarded.

What were the facts?

The appeals were filed by the Commissioner of Income Tax, Chennai, against orders of the Income Tax Appellate Tribunal (ITAT) for assessment years 2007-08 and 2008-09. The appeals challenged the ITAT's decisions in ITA Nos. 218/Mds/2012 and 257/Mds/2010. The respondent in TCA No. 865 of 2015 was M/s. Altius Securities Trading Pvt Ltd., and in TCA No. 866 of 2015, it was C. Srikanth. The appeals were filed under Section 260A of the Income Tax Act, 1961. The Department sought withdrawal of these appeals.

What were the issues?

1. Whether the Income Tax Department should be permitted to withdraw the appeals against the ITAT's orders for assessment years 2007-08 and 2008-09. This is a procedural issue concerning the withdrawal of appeals. The Department's contention is that it does not wish to pursue the appeals due to low tax effect, citing Circular No. 9 of 2024 dated 17.09.2024. The respondent did not appear, and therefore, no arguments were recorded on their behalf. The judgment does not explicitly frame the underlying substantive issues that were before the ITAT.

Which sections of the Income-tax Act were involved?

Section 260A

AI-generated summary — verify with the full judgment below

2026:MHC:4339 TCA No. 865 of 2015 __________ Page1 of 4 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 27-10-2026 CORAM THE HON'BLE DR.JUSTICE ANITA SUMANTH AND THE HON'BLE MR.JUSTICE S.KARTHIKEYAN TCA No. 865 of 2015 CNR:{HCMA010523512015} AND TCA NO. 866 OF 2015 Commissioner Of Income Tax Chennai. ..Appellant(s) Vs M/s. Altius Securities Trading Pvt Ltd., New No.6 Old No.29, Ground Floor, Cit Colony, Ii Main Road, Mylapore, Chennai - 4. ..Respondent(s) TCA No. 866 of 2015 CNR:{HCMA010380562015} Commissioner Of Income Tax Chennai. ..Appellant(s) Vs C. Srikanth New No.19/3 Old No.11/3, 3rd Avenue, Besant Nagar, Chennai - 90. ..Respondent(s) https://www.mhc.tn.gov.in/judis ( Uploaded on: 28/10/2026 06:22:42 pm ) 2026:MHC:4339 TCA No. 865 of 2015 __________ Page2 of 4 Appeals filed under Section 260A of the Income Tax Act, 1961 against order dated 25.02.2015 passed in ITA Nos.218/Mds/2012 and 257/Mds/2010 on the file of the Income Tax Appellate Tribunal ‘B’ Bench, Chennai for assessment years 2007-08 and 2008-09. In Both TC(A)s For Appellant(s): Mr.T.Ravi Kumar Senior Standing Counsel For Respondent(s): No appearance Common Judgment (Judgment of the Court was 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 the Tax Case (Appeals) qua assessment years 2007–08 (T.C.(A) No.865 of 2015) and 2008-09 (T.C.(A) No.866 of 2015) and seeks withdrawal of the same on account of low tax effect, per Circular bearing No.9 of 2024 dated 17.09.2024. 2.Recording the aforesaid submission, both the Tax Case (Appeals) are dismissed as withdrawn leaving the questions of law open to be decided in an appropriate matter. No costs. (A.S.M.,J.) (S.K.,J.) Sl 27-10-2026 Index: Yes/No Speaking order Neutral Citation: Yes https://www.mhc.tn.gov.in/judis ( Uploaded on: 28/10/2026 06:22:42 pm ) 2026:MHC:4339 TCA No. 865 of 2015 __________ Page3 of 4 To The Income Tax Appellate Tribunal ‘B’ Bench, Chennai. https://www.mhc.tn.gov.in/judis ( Uploaded on: 28/10/2026 06:22:42 pm ) 2026:MHC:4339 TCA No. 865 of 2015 __________ Page4 of 4 DR.ANITA SUMANTH J. AND S.KARTHIKEYAN J. SL TCA No. 865 of 2015 AND TCA NO. 866 OF 2015 27-10-2026 https://www.mhc.tn.gov.in/judis ( Uploaded on: 28/10/2026 06:22:42 pm )

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