PRINCIPAL COMMISSIONER OF IN vs. V.R.VENKATACHALAM

T.C.A.No.989 of 2018 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.989 of 2018 The Principal Commissioner of Income Tax-I, No.108, Mahatma Gandhi Road, Nungambakkam, Chennai. ... Appellant Versus Shri V.R.Venkatachalam, No.25, Sir C.V.Raman Road, Alwarpet, Chennai - 600 018. ... Respondent (PAN No.AAD PV 3203 H) Appeal preferred under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal, Madras “D” Bench, dated 13.04.2016 in I.TA.No.1477/Mds/2015. For Appellant : Mr.J.Narayanaswamy Senior Standing Counsel For Respondent : Mr.R.Sivaraman Page 1/4 https://www.mhc.tn.gov.in/judis T.C.A.No.989 of 2018 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 13.04.2016 passed by the Income Tax Appellate Tribunal, Madras 'D' Bench in I.TA.No.1477/Mds/2015, relating to the assessment year 2012-13. 2. By order dated 25.11.2019, 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 Hon'ble Appellate Tribunal is correct in law in cancelling the revision made under Section 263 of the Income Tax Act? (ii) Whether the Appellate Tribunal is correct in holding that in case of assessment under Section 153A, the powers of Commissioner of Income Tax under Section 263 is limited to incriminating material seized during the course of search only and cannot exceed to other material that came on record in consequence to search? (iii) Whether the Appellate Tribunal is correct in law in holding that the Assessing Officer has formed an opinion based on material submitted by the assessee, verification of material and enquiries carried out by him and therefore, did not make Page 2/4 https://www.mhc.tn.gov.in/judis T.C.A.No.989 of 2018 addition, whereas there is no such finding in the assessment order? " 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 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 (2/2) r n s

Internet : Yes.

Index : Yes / No. R. MAHADEVAN, J. Page 3/4 https://www.mhc.tn.gov.in/judis T.C.A.No.989 of 2018 and MOHAMMED SHAFFIQ, J. r n s To 1. The Income Tax Appellate Tribunal Madras 'D' Bench, Chennai. 2. The Commissioner of Income Tax, (Appeals), Central-I, Chennai. 3. The Assistant Commissioner of Income Tax, Central Circle-IV(2), Chennai. T.C.A.No.989 of 2018 24.08.2022 (2/2) Page 4/4 https://www.mhc.tn.gov.in/judis