Commissioner Of Income Tax, Coimbatore v. Shri T.s.r.khannaiyann

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED : 25.02.2021 THE HON'BLE MR. JUSTICE M.DURAISWAMYAND THE HON'BLE MRS.JUSTICE T.V.THAMILSELVI T.C.A.No.800 of 2013 Commissioner of Income Tax,Coimbatore. ... AppellantVs. Shri T.S.R.Khannaiyann,67, Avarampalayam Road,K R Puram, Coimbatore.... Respondent Tax Case Appeal preferred under Section 260A of the IncomeTax Act, 1961, against the order of the Income Tax AppellateTribunal,Chennai,“C”Bench,dated25.06.2013 inI.TA.No.1144/Mds/2009, Assessment Year 2006-07 against the orderof the Commissioner of Income Tax(Appeals) in ITA.No.309/08-09dated 18.05.2009 for the assessment year 2006-07 against theAssessment order of the Assistant Commissioner of Income TaxCircle-II, Coimbatore dated 22.12.2008. For Appellant : Mr.T.R.Senthil Kumar Senior Standing Counsel and Mrs.K.G.Usha Rani Standing Counsel For Respondent : Mr.R.Sivaraman JUDGMENT (Judgment was delivered by M.DURAISWAMY, J.) We have heard Mr.T.R.Senthil Kumar, learned Senior StandingCounsel and Mrs.K.G.Usha Rani, learned Standing Counsel for theappellant/Revenue and Mr.R.Sivaraman, learned counsel for therespondent/assessee. 2.The appeal, filed by the Revenue under Section 260A ofthe Income Tax Act, 1961 (for short, the Act) is directedagainst the order dated 25.06.2013 made in I.TA.No.1144/Mds/2009on the file of the Income Tax Appellate Tribunal, Chennai, “C” https://hcservices.ecourts.gov.in/hcservices/ Bench (for brevity, the Tribunal) for the Assessment Year 2006-07. 3.The appeal was admitted on 10.02.2014 on the followingsubstantial question of law:“Whether under the facts and in the circumstancesof the case, the Income Tax Appellate Tribunal wasright in holding that addition to the long termcapital gains is to be made to the extent ofadditional stamp duty paid by the purchaser under theSamadhan Scheme introduced by the Government of TamilNadu ? 2.Whether under the facts and in thecircumstances of the case, the Income Tax AppellateTribunal was right in holding that the remission ofstamp duty under the Samadhan Scheme of the Governmentof Tamil Nadu should be considered in applying Section50 C of the Income Tax Act, 1961?” 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. Bythe said Circular, the monetary limit for filing or pursuing anappeal before the High Court has been increased to Rs.1 crore.It is further submitted that the tax effect in this case is lessthan the threshold limit. 5.In the light of the said submissions, the above Tax CaseAppeal is dismissed as withdrawn on account of the Low TaxEffect. The substantial question of law framed is left open. Inthe event the tax effect in this case is above the thresholdlimit fixed in the said Circular, liberty is granted to theRevenue to make a mention to this Court to restore the appeal tobe heard and decided on merits. No costs. Sd/- Asst.Registrar /true copy/Sub Asst. Registrar mkn https://hcservices.ecourts.gov.in/hcservices/ To 1.The Registrar Income Tax Appellate Tribunal, Chennai, “C” Bench 2.The Commissioner of Income Tax, Coimbatore. Coimbatore. 3.The Assistant Commissioner of Income Tax,Circle-II, Coimbatore.Circle-II, Coimbatore. +1 cc to M/s.T.R.Senthilkumar Advocate sr11609 T.C.A.No.800 of 2013 ppa(co)aa18/03/2021