(Delivered by the Hon'ble Acting Chief Justice) These Tax Case Appeals filed by the Revenue calling in question the correctness of the order passed by the Income Tax Appellate Tribunal, Madras 'B' Bench, Chennai, dated 20.10.2008 in ITA Nos.2542/MDS/2007, 2543/MDS/2007, 2544/MDS/2007 and 2545/MDS/2007 respectively, have been admitted on 25.8.2009 for consideration of the following substantial questions of law:
"(i) Whether on the facts and circumstances of the case, the Tribunal was right in law in deleting the penalty u/s. 271(1)(c) of the Income Tax Act when the assessee has not filed returns from 1997-98 onwards and hand not been assessed for some years previous to the years in question, and as such would satisfy the requirements of the explanation?
(ii) Whether on the facts and circumstances of the case, the Tribunal was right in law in holding that the amendment to explanation 3 to Sec.271(1)(c) by Finance Act 2002 cannot be applied retrospectively, and that it is not clarificatory in nature? and
(iii) Whether on the facts and circumstances of the case, the Tribunal was right in law in directing deduction of the self- assessment tax paid only after the issue of notice u/s. 148 of the Act? "
2. Circular instruction issued by the Central Board of Direct Taxes No.21/2015, dated 10.12.2015 stipulates that appeals shall not be filed/pursued by the Department before the High Court in cases where the tax effect does not exceed Rs.20 lakhs. In the instant case, the tax effect is less than the monetary limit imposed and therefore, the learned Standing Counsel for the appellant seeks to withdraw these appeals. Hence, these appeals are dismissed as withdrawn. No costs.
Index : Yes/No (H.G.R., ACJ) (A.S.M.,J.) Internet : Yes/No 20.02.2017 kpl THE HON'BLE ACTING CHIEF JUSTICE and
ANITA SUMANTH,J.
kpl TCA Nos.666 to 669 of 2009.
20.02.2017.
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