Commissioner Of Income Tax-1,Chennai v. M/S. Arvind Remedies Ltd.,New

Commissioner of Income Tax-1,Chennai... Appellant v. M/s. Arvind Remedies Ltd.,New No.190, P.H. Road,Chennai - 600 084.... Respondent Appeal preferred under Section 260A of the Income TaxAct, 1961, against the order of the Income Tax AppellateTribunal, Madras, “C” Bench, dated 18.09.2009 inITA.No.2268/Mds/2008 for the Assessment Year 2004-05. against the appellate order of the Commissioner of IncomeTax (Appeals)-VIII, Chennai-600 034, dated 17.09.2008 and madein ITA.No.75/07-08 and against the Assessment order of theAssistant Commissioner of Income Tax, Company Circle(1),Chennai, dated 09.11.2006 and made in PAN/GIR.No.AX4-003/AACCA74072 for the Assessment year 2004-2005. JUDGMENT (Judgment was delivered by M. DURAISWAMY, J.) We have heard Mr. T.Ravikumar,, learned Senior StandingCounsel for the appellant/Revenue and Mr. Venkatnarayanan forthe respondent/Assessee. 2.The appeal, filed by the Revenue under Section 260A ofthe Income Tax Act, 1961 (for short, the Act) is directedagainsttheorderdated18.09.2009madeinITA.No.2268/Mds/2008 on the file of the Income Tax AppellateTribunal, Chennai, ''C'' Bench (for brevity, the Tribunal) forthe Assessment Year 2004-05. 3.The appeal was admitted on 09.03.2010 on the followingsubstantial question of law: “Whether on the facts and circumstancesof the case, the Income Tax Appellate Tribunalhttps://hcservices.ecourts.gov.in/hcservices/was right in holding that the assessee was entitled to higher rate of 15% depreciation onthe building which was used by the assesseeonly for storing apparatus, equipments andtools on the ground that the buildingconstituted a plant?” 4.The learned Senior Standing Counsel appearing for theappellant submits that the above appeal is not pursued by theRevenue on account of the Low Tax Effect in terms of CircularNo.17/2019 dated 08.08.2019 issued by the Central Board ofDirect Taxes. By the said Circular, the monetary limit forfiling or pursuing an appeal before the High Court has beenincreased to Rs.1 crore. It is further submitted that the taxeffect in this case is less than the threshold limit. 5.In the light of the said submissions, the above TaxCase Appeal is dismissed as withdrawn on account of the LowTax Effect. The substantial question of law framed is leftopen. In the event the tax effect in this case is above thethreshold limit fixed in the said Circular, liberty is grantedto the Revenue to make a mention to this Court to restore theappeal to be heard and decided on merits. No costs. Sd/- Assistant Registrar(CS IV)//True Copy// Sub Assistant RegistrarRjTo 1.The Income Tax Appellate Tribunal, Chennai, ''C'' Bench. 2.The Commissioner of Income Tax-I, Chennai. 3.The Commissioner of Income Tax(Appeals)-VIII, Chennai-600 034. 4.The Assistant Commissioner of Income Tax, Company Circle I(1), Chennai. +1cc to Mr.T.Ravikumar, Advocate, SR.No.9627. PA(CO)CSR 25.03.2021 https://hcservices.ecourts.gov.in/hcservices/