Judgment · High Court

TCA No. 56 of 2010__________Page1 of 3IN THE HIGH COURT OF JUDICATURE AT MADRASDATED: 22-04-2026CORAM:THE HON'BLE Dr.JUSTICE G. JAYACHANDRANANDTHE HON'BLE MR.JUSTICE SHAMIM AHMEDTCA No. 56 of 2010---Commissioner Of Income Tax-III, Chennai .. AppellantVs.M/s Sriram Chits Tamil Nadu P Ltd.,“Greams Dugar” 4th and 5th Floors, No.149 Greams Road, Chennai-600 006… RespondentTax Case Appeal filed under Section 260-A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal, Chennai-” D” Bench, dated 26.06.2009 in I.A.No.2116/Mds/2008, Assessment Year 2002-03.For Appellant(s):Mr.J.Narayanaswamy, Senior Standing CounselFor Respondent(s):Mr.R.SivaramanJUDGMENT(Judgment of the Court was delivered by Dr.G.Jayachandran, J.)This appeal is filed by the Revenue challenging the order of the Income Tax Appellate Tribunal, confirming the deletion of the penalty https://www.mhc.tn.gov.in/judis TCA No. 56 of 2010__________Page2 of 3under Section 271(1)(c) of the Income Tax Act, at Rs.53,39,599/- by the assessing officer.2. Since the disputed tax is below Rs.2 crores covered under the low tax liability, in the light of the CBDT Circular No.9 of 2024, dated 17.09.2024, this appeal filed by the Revenue, stands dismissed as withdrawn. There shall be no order as to costs. (G.J.,J.) (S.S.A.,J.) 22-04-2026csToThe Commissioner Of Income Tax-III, Chennai https://www.mhc.tn.gov.in/judis TCA No. 56 of 2010__________Page3 of 3Dr.G.JAYACHANDRAN, Jand SHAMIM AHMED, JcsTCA No. 56 of 2010 22-04-2026