Judgt. dt. 28.1.2020 in T.C.1439/2008, etc. CIT v. Express News Papers 1/5 IN HIGH COURT OF JUDICATURE AT MADRAS DATED: 28.1.2020 CORAM HON'BLE DR.JUSTICE VINEET KOTHARI AND HON'BLE MR.JUSTICE R.SURESH KUMAR Tax Case Nos.1439, 1440, 1443, 1444 & 1445 of 2008 Commissioner of Income Tax, Tamil Nadu-I, Madras. Appellant Vs. M/s.Express News Papers Ltd., Express Estates, Anna Salai, Chennai 600 002. Respondent Tax Cases filed under Section 260A of Income Tax Act, 1961 against order of Income Tax Appellate Tribunal, 'A' Bench, Chennai, dated 31.10.2006 made in ITA No.503/Mds/2001, WTA No.50/Mds/2001, ITA Nos.1748/Mds/2002, 1875/Mds/2002 and 587/Mds/2003. For Appellant : Mr.Karthik Ranganathan Senior Standing Counsel For Respondent : Mr.M.P.Senthilkumar for Mr.G.Baskar COMMON JUDGMENT (Delivered by DR.VINEET KOTHARI,J) These Tax Cases have been filed by Revenue, calling in question correctness of order passed by Income Tax Appellate Tribunal, 'A' Bench, Chennai, dated 31.10.2006 made in ITA Nos.503/Mds/2001, 50/Mds/2001, 1748/Mds/2002, 1875/Mds/2002 http://www.judis.nic.in Judgt. dt. 28.1.2020 in T.C.1439/2008, etc. CIT v. Express News Papers 2/5 and 587/Mds/2003, for Assessment Years 1990-1991, 1997-1998 and 1998-1999 by raising following substantial questions of law: "T.C.1439/2008 (i) Whether on facts and circumstances of case, Appellate Tribunal was right in holding that Assessee is entitled for 100% depreciation on sale and lease back transaction even though no real transaction took place during assessment year in question? (ii) Whether on facts and circumstances of case, Appellate Tribunal was right in directing assessing officer to allow deduction towards remuneration paid to M/s.Haritha Finance Pvt. Ltd. even though there is no genuine transaction between parties concerned?" T.C.1440/2008 "Whether on facts and circumstances of case, Appellate Tribunal was right in law in remitting matter back to AO for fresh consideration even though adoption of gross rent of portion let out to Indian Express (Bombay Ltd.) arrived at by AO is in http://www.judis.nic.in Judgt. dt. 28.1.2020 in T.C.1439/2008, etc. CIT v. Express News Papers 3/5 accordance with Act?" T.C.1443 & 1444 of 2008 Whether on facts and circumstances of case, Appellate Tribunal was right in law in deleting penalty levied under Section 271(1)(c) of Income Tax Act, 1961 in respect of foreign travel which have no nexus over business of assessee? T.C.1445/2008 i) Whether on facts and circumstances of case, Appellate Tribunal was right in law in remitting matter back to AO with direction to follow High Court decision reported in 227 ITR 325 even though AO correctly disallowed 75% of expenses in accordance with law? ii) Whether on facts and circumstances of case, Appellate Tribunal was right in law in allowing bad debt being amount transferred to bad debts reserve account as not recoverable when it was not actually written off?" 2. When matters are taken up for hearing, learned Senior Standing Counsel brought to our notice Circular instruction issued http://www.judis.nic.in Judgt. dt. 28.1.2020 in T.C.1439/2008, etc. CIT v. Express News Papers 4/5 by Central Board of Direct Taxes vide Circular No.17/2019 dated 8th August 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.1,00,00,000/- (Rupees One Crore). 3. In instant cases, tax effect is said to be less than monetary limit imposed and therefore, Appeals filed by Revenue are dismissed, as withdrawn, keeping open substantial questions of law for determination in appropriate cases. No costs. (V.K.,J.) (R.S.K.,J.) 28.1.2020 Index : Yes/No Internet : Yes/No ssk. To 1. Commissioner of Income Tax, Tamil Nadu-I, Madras. 2. Income Tax Appellate Tribunal, 'A' Bench, Chennai. 3. M/s.Express News Papers Ltd., Express Estates, Anna Salai, Chennai 600 002. http://www.judis.nic.in Judgt. dt. 28.1.2020 in T.C.1439/2008, etc. CIT v. Express News Papers 5/5 DR.VINEET KOTHARI, J. and R.SURESH KUMAR, J. ssk. T.C.Nos.1439, 1440, 1443, 1444 & 1445 of 2008 28.1.2020. http://www.judis.nic.in Commissioner of Income-tax, Tamil Nadu-I, Madras v. Express News Papers Ltd