Madras High Court
The Principal Commissioner Of Income ... vs M/S.Mainetti India Pvt. Ltd on 5 August, 2022
Author: R. Mahadevan
Bench: R. Mahadevan, Mohammed Shaffiq
T.C.A.No.597 of 2017
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED 05.08.2022
CORAM
THE HON'BLE Mr. JUSTICE R. MAHADEVAN
AND
THE HON'BLE Mr. JUSTICE MOHAMMED SHAFFIQ
Tax Case Appeal No.597 of 2017
The Principal Commissioner of Income Tax 4
No.121, Nungambakkam High Road
Chennai 600 034 .. Appellant
Vs.
M/s.Mainetti India Pvt. Ltd.
3rd Floor, Florida Towers
No.138/30, Nelson Manickam Road
Chennai 600 029
PAN : AAA CM 6894 M .. Respondent
Tax Case Appeal filed under Section 260A of the Income Tax Act, 1961
against the order dated 24.08.2016 passed by the Income Tax Appellate
Tribunal, 'D' Bench, Chennai, in I.T.A.No.616/Mds/2015.
For Appellant : Mr.Karthik Ranganathan
For Respondent : No appearance
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T.C.A.No.597 of 2017
JUDGMENT
(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 24.08.2016 passed by the Income Tax Appellate Tribunal, 'D' Bench, Chennai, in I.T.A.No.616/Mds/2015, relating to the assessment year 2010-11.
2. By order dated 07.12.2017, this Court admitted the aforesaid tax case appeal on the following substantial question of law :
“Whether on facts and circumstances of the case and in law, the ITAT was right in law in holding that, expenditure incurred in foreign currency which are excluded from the export turnover should also be excluded from total turnover in order to grant relief under Section 10AA of the Income Tax Act, 1961?”
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 https://www.mhc.tn.gov.in/judis 2/4 T.C.A.No.597 of 2017 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the present appeal, wherein, the tax effect is said to be less than the monetary limit imposed, is dismissed as withdrawn, keeping open the substantial questions of law for determination in an appropriate case.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.]
05.08.2022
Index : Yes / No
gya
To
1.The Principal Commissioner of Income Tax 4 No.121, Nungambakkam High Road Chennai 600 034
2.The Commissioner of Income Tax (Appeals) Chennai
3.The Deputy Commissioner of Income Tax Corporate Circle 4(1) Chennai
4. The Income Tax Appellate Tribunal 'D' Bench Chennai https://www.mhc.tn.gov.in/judis 3/4 T.C.A.No.597 of 2017 R. MAHADEVAN, J.
AND MOHAMMED SHAFFIQ, J.
gya Tax Case Appeal No.597 of 2017 05.08.2022 https://www.mhc.tn.gov.in/judis 4/4