Tax Case Appeal No.599 of 2007 IN HIGH COURT OF JUDICATURE AT MADRAS Dated: 4/9/2019 CORAM Honourable Mr.Justice S.Manikumar and Honourable Mr.Justice D.Krishnakumar Tax Case Appeal No.599 of 2007 Commissioner of Income Tax Chennai. ... Appellant Vs Sundaram Fasteners Ltd 98 Radhakrishna Salai Mylapore Chennai. ... Respondent Prayer: Appeal filed against order of Income Tax Appellate Tribunal, Madras 'B' Bench, Chennai, dated 28/6/2005 in ITA No.1973/Mds/2000. For appellant : Mr.J.Narayanasamy Senior Standing Counsel for Income Tax. For respondent : Mr.P.J.Rishikesh 1/5 http://www.judis.nic.in Tax Case Appeal No.599 of 2007 JUDGMENT (Judgment of Court was made by S.Manikumar,J) This Appeal has been filed against order of Income Tax Appellate Tribunal, 'B' Bench, Madras, dated 28/6/2005. 2. substantial question of law raised in instant appeal is:- Whether in facts and circumstances of case, Tribunal was right in holding that loss pertaining to software unit had to be reduced from business profits while computing deduction under Section 80 HHC by application of Section 80 HH (5)? 3. Mr.J.Narayanasamy, learned Senior Standing Counsel for Income Tax, placing reliance on Circular No.17 of 2019, dated 8/8/2019, seeks permission for withdrawal of Tax Case Appeal. Circular No.17 of 2019, reads as follows:- Reference is invited to Circular No.3 of 2018 dated 11/7/2018 (the circular) of Central Board of Direct Taxes (the Board) and its amendment, dated 20th August, 2018, vide which monetary limits for filing of income tax appeals by Department before Income Tax Appellate Tribunal, High Courts and SLPs/appeals before Supreme Court have been specified. Representation has also been received that anomaly in said circular at para 5 may be removed. 2/5 http://www.judis.nic.in Tax Case Appeal No.599 of 2007 2. As step towards further management of litigation, it has been decided by Board that monetary limits for filing of appeals in income-tax cases be enhanced further through amendment in para 3 of Circular mentioned above and accordingly, table for monetary limits specified in para 3 of Circular shall read as follows:- S.No. Appeals/SLPs in Income Monetary Limit tax matters (Rs.) 1. Before Appellate Tribunal 50,00,000 2. Before High Court 1,00,00,000 3. Before Supreme Court 2,00,00,000 3. Further with view to provide parity in filing of appeals in scenarios where separate order is passed by higher appellate authorities for each assessment year vis-a-vis where composite order for more than one assessment years is passed, para 5 of Circular is substituted by following para: 5. Assessing Officer shall calculate tax effect separately for every assessment year in respect of disputed issues in case of every assessee. If, in case of assessee, disputed issues arise in more than one assessment year, appeal can be filed in respect of such assessment year or years in which tax effect in respect of disputed issues exceeds monetary limit specified in para 3. No appeal shall be filed in respect of assessment year or years in which tax effect is less than monetary limit specified in para 3. Further, even in case of composite order of any High Court or appellate authority which involves more than one assessment year and common issues in more than one assessment year, no appeal shall be filed in respect of assessment year or years in which tax effect is less than monetary limit specified in para 3. In case, where composite order/judgment involves more than one assessee, each assessee shall be dealt with separately. 4. said modifications shall come into effect from date of issue of this Circular. 5. same may be brought to notice of all concerned. 6. This issues under Section 268 of Income Tax Act, 1961. 7. Hindi version will follow. 3/5 http://www.judis.nic.in Tax Case Appeal No.599 of 2007 4. Placing on record above submission, while dismissing Tax Case Appeal No.599 of 2007, as withdrawn, substantial question of law raised is left open. No costs. (S.M.K.,J) (D.K.K.,J) th 4 September 2019 mvs. Index: yes/No website: Yes/No. 4/5 http://www.judis.nic.in Tax Case Appeal No.599 of 2007 S.MANIKUMAR,J and D.KRISHNAKUMAR,J mvs. Tax Case Appeal No.599 of 2007 4/9/2019 5/5 http://www.judis.nic.in Commissioner of Income-tax, Chennai v. Sundaram Fasteners Ltd