The Commissioner of Income Tax Chennai v. M/s.Refex Industries LtdFormerly Refex Refrigerators LtdNo.20

T.C.A.No.470 of 2015IN THE HIGH COURT OF JUDICATURE AT MADRASDATED: 01.10.2024CORAMTHE HON'BLE MR.JUSTICE R.SURESH KUMARANDTHE HON'BLE MR.JUSTICE C.SARAVANANTax Case Appeal No.470 of 2015 The Commissioner of Income Tax Chennai....Appellant Vs.M/s.Refex Industries LtdFormerly Refex Refrigerators LtdNo.20, Mooker Nallamuthu StreetGeorge Town, Chennai 600 001....Respondent-----Tax Case Appeal filed under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal, Madras 'C' Bench, Chennai, dated 09.09.2014 made in ITA No.972/Mds/2014.For Appellant : Mrs.V.Pushpa Senior Standing Counsel For Respondent : Mr.N.V.BalajiJ U D G M E N T(Delivered by R.SURESH KUMAR, J.)This Tax Case Appeal has been filed by the Revenue calling in question the correctness of the order passed by the Income Tax Appellate Tribunal, 'C' Bench, Chennai and the appeal was admitted on the following substantial question of law: https://www.mhc.tn.gov.in/judis T.C.A.No.470 of 2015"Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the order passed u/s.263 is not valid?"

It is brought to our notice by the learned Standing Counsel for the appellant Revenue that in the instant case, the tax effect is said to be less than the monetary limit imposed and therefore, the appeal filed by the Revenue can be disposed of, keeping the substantial question of law raised in this appeal open for adjudication at a later point of time.