Commissioner Of Income Tax, Chennai v. M/S.beverly Hotels Pvt. Ltd

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED : 08.03.2021 CORAM THE HON'BLE MR. JUSTICE M.DURAISWAMYAND THE HON'BLE MRS.JUSTICE T.V.THAMILSELVI T.C.A.No.279 of 2014 Commissioner of Income Tax,Chennai. ... AppellantVs. M/s.Beverly Hotels Pvt. Ltd.,No.17, Rajarathinam Street,Kilpauk, Chennai – 600 010.... Respondent Appeal preferred under Section 260A of the Income TaxAct, 1961, against the order of the Income Tax AppellateTribunal, Madras, “A” Bench, dated 31.07.2013 inI.TA.No.521/Mds/2013, Assessment Year 2008-09. Against the order of the Commissioner of Income Tax(Appeals) -III, 121, M.G.Road, Chennai – 34 made inITA.No.49/11-12/A – III order dated 06/12/2012 for theAssessment Year 2008-2009 Against the Order of the Assistant Commissioner of IncomeTax, Company Circle – I(2), 121, M.G.Road, Aayakar Bhavan, NewBlock VI th Floor, Chennai – 34 Ref No. AABCB2280K/CO.I(2)/2008-09 dated 27/06/2011. Against the Order of the Assistant Commissioner of IncomeTax, Company Circle -I (2), Chennai 34 made in PANNo.AABCB2280K order dated 10/12/2010. For Appellant : Mr.T.Ravikumar Senior Standing CounselFor Respondent : No appearance JUDGMENT We have heard Mr.T.Ravikumar, learned Senior StandingCounsel for the appellant/Revenue. 2.The appeal, filed by the Revenue under Section 260A ofthe Income Tax Act, 1961 (for short, the Act) is directedhttps://hcservices.ecourts.gov.in/hcservices/againsttheorderdated31.07.2013madein I.TA.No.521/Mds/2013 on the file of the Income Tax AppellateTribunal, Chennai, “A” Bench (for brevity, the Tribunal) forthe Assessment Year 2008-09. 3.The appeal was admitted on 22.08.2014 on the followingsubstantial question of law: “Whether on the facts and circumstances ofthe case, the Income Tax Appellate Tribunal wasright in deleting the penalty under Section 271(1)(c) when the fact remains that the assesseehas furnished inaccurate particulars and alsoconcealed the taxable income in the form of anillegitimate claim of expenditure which wascorrected only by the detection by the IncomeTax Department ?” 4.The learned Senior Standing Counsel for the appellantsubmits that the above appeal is not pursued by the Revenue onaccount of the Low Tax Effect in terms of Circular No.17/2019dated 08.08.2019 issued by the Central Board of Direct Taxes.By the said Circular, the monetary limit for filing orpursuing an appeal before the High Court has been increased toRs.1 crore. It is further submitted that the tax effect inthis 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 isgranted to the Revenue to make a mention to this Court torestore the appeal to be heard and decided on merits. Nocosts. Sd/-Assistant Registrar //True Copy// mkn Sub Assistant Registrar To 1.The Income Tax Appellate Tribunal, Chennai, “A” Bench 2.The Commissioner of Income Tax, Chennai. 3.The Commissioner of Income Tax (Appeals) – III, 121, M.G.Road, Chennai 34. https://hcservices.ecourts.gov.in/hcservices/ 4.The Assistant Commissioner of Income Tax, Company Circle – (2), 121, M.G.Road, Aayakar Bhavan, New Block, Vi th Floor, Chennai 34. T.C.A.No.279 of 2014 SR II(CO)GN(30/03/2021)