IN HIGH COURT OF JUDICATURE AT MADRAS DATED: 10.09.2019 CORAM : HON'BLE DR.JUSTICE VINEET KOTHARI AND HON'BLE MR.JUSTICE C.SARAVANAN Tax Case Appeal No.1197 of 2009 Commissioner of Income Tax, Company Circle IV (2), Coimbatore. ... Appellant Vs. M/s.Lakshmi Machine Works Limited, (Formerly Textool Co. Ltd., Now merged with LMW) SRKV Post, Coimbatore-641 020. ... Respondent Tax Case Appeal filed under Section 260A of Income Tax Act, 1961 against order of Income Tax Appellate Tribunal, 'D' Bench, Chennai, dated 25.01.2008 made in ITA No.1478/Mds/2005. Page 1 of 5 http://www.judis.nic.in Judgment dt. 10.09.2019 in T.C.(A) No.1197 of 2009 CIT v. M/s.Lakshmi Machine Works Limited For Petitioner : Mr.T.R.Senthilkumar Sr. Standing Counsel assisted by Ms.K.G.Usharani Jr. Standing Counsel For Respondent : Mr.Venkatnarayanan for M/s.Subbaraya Aiyar Padmanabhan ORDER (Order of Court was made by DR.VINEET KOTHARI,J.)) This Tax Case Appeal has been filed by Revenue calling in question correctness of order passed by Income Tax Appellate Tribunal, 'D' Bench, Chennai, by raising following substantial questions of law: "1.Whether on facts and in circumstances of case, Tribunal was right in holding that reassessment made under Section 147 of Income Tax Act was bad in law? 2. Whether Tribunal is right in holding that reopening of assessment after expiry of 4 years from date of assessment is invalid without even considering Explanation 2 to Section 147 of __________ Page 2 of 5 http://www.judis.nic.in Judgment dt. 10.09.2019 in T.C.(A) No.1197 of 2009 CIT v. M/s.Lakshmi Machine Works Limited Income Tax Act, 1961? 2. When matter is taken up for hearing, learned Standing Counsel brought to our notice Circular instruction issued by Central Board of Direct Taxes vide Circular No.17/2019 dated 08.08.2019 wherein it is stipulated that appeals shall not be filed/pursued by Department before High Court in cases where tax effect does not exceed Rs.1 Crore. 3. In instant case, tax effect is said to be less than monetary limit imposed and therefore, appeal filed by Revenue is dismissed as not pressed, keeping open substantial questions of law for determination in appropriate case. (V.K.,J.) (C.S.N.,J.) 10.09.2019 Index : Yes/No bbr To: Page 3 of 5 http://www.judis.nic.in Judgment dt. 10.09.2019 in T.C.(A) No.1197 of 2009 CIT v. M/s.Lakshmi Machine Works Limited 1. Registrar, Income Tax Appellate Tribunal, Madras "D" Bench, Chennai. 2. Commissioner of Income Tax (Appeals)-I, Madurai, Camp at Coimbatore. 3. Assistant Commissioner of Income-tax, Company Circle-IV(2) Coimbatore18. DR.VINEET KOTHARI, J. Page 4 of 5 Judgment dt. 10.09.2019 in T.C.(A) No.1197 of 2009 CIT v. M/s.Lakshmi Machine Works Limited and C.SARAVANAN, J. bbr T.C.(A) No.1197 of 2009 10.09.2019 Page 5 of 5 Commissioner of Income-tax, Company Circle-IV(2), Coimbatore v. Lakshmi Machine Works Limited, (Formerly Textool Co. Ltd. Now merged with LMW)