Order dt.03.08.2020 in T.C.A.No.20 of 2014 1/4 IN HIGH COURT OF JUDICATURE AT MADRAS DATED: 03.08.2020 CORAM HON'BLE DR.JUSTICE VINEET KOTHARI AND HON'BLE MR.JUSTICE KRISHNAN RAMASAMY T.C.A.No.20 of 2014 Commissioner of Income Tax, Chennai ... Appellant vs. M/s.Liberty Agri Products P Ltd, No.3/284 Muttukadu Road, Neelangarai, Chennai 41. ... Respondent Prayer ::- Appeal filed against order of Income Tax Appellate Tribunal, Madras C Bench, Chennai dated 24.08.2011 in ITA No.1610/Mds/2010 For appellant : Mr.Karthik Ranganathan ORDER (Made by DR.VINEET KOTHARI, J.) Court was held by Video Conference, as per Resolution of Full Court dated 3 July 2020, by Judges at their respective residence and counsel, staff of Court appearing from their respective residences. http://www.judis.nic.in Order dt.03.08.2020 in T.C.A.No.20 of 2014 2/4 2. This Tax Case Appeal has been filed by Revenue, calling in question correctness of order passed by Income Tax Appellate Tribunal, C Bench, by raising following substantial questions of law: (i) "Whether on facts and in circumstances of case, Income Tax Appellate Tribunal was right in holding that additional adjustment of Rs.2,61,32,176/- made by TPO was not sustainable in law?" (ii) Is not finding of Tribunal is perverse when DRP had given categorical finding that there was no documentary evidence in form of written arguments or any other 3rd party independent evidence to conclude that said contract of purchase was entered and concluded on 06.03.20057 ? (iii) Whether on facts and in circumstances of case, Income Tax Appellate Tribunal was right in deleting addition of RS.2.61 crores by adopting comparison of uncontrolled price method?" 3. When matter is taken up for hearing, learned Counsel for appellant brought to our notice Circular issued by Central Board of Direct Taxes vide Circular No.17/2019 dated 8 August 2019, wherein, it is stipulated that appeal 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). http://www.judis.nic.in Order dt.03.08.2020 in T.C.A.No.20 of 2014 3/4 4. In instant case, tax effect is said to be less than monetary limit imposed and therefore, Appeal filed by Revenue is dismissed as withdrawn, keeping open substantial questions of law for determination in appropriate cases. No costs. (V.K.,J.) (K.R.,J.) 03.08.2020 kpl/tar To Income Tax Appellate Tribunal, Madras C Bench, Chennai http://www.judis.nic.in Order dt.03.08.2020 in T.C.A.No.20 of 2014 4/4 DR.VINEET KOTHARI, J. and KRISHNAN RAMASAMY, J. (tar) T.C.A.No.20 of 2014 03.08.2020 http://www.judis.nic.in Commissioner of Income-tax, Chennai v. Liberty Agri Products P. Ltd