Commissioner Of Income Tax - I, Tiruchirapalli v. K.sampath

IN THE HIGH COURT OF JUDICATURE AT MADRAS THE HON'BLE MR. JUSTICE M.DURAISWAMYAND THE HON'BLE MRS.JUSTICE T.V.THAMILSELVI T.C.A.No.961 of 2009 Commissioner of Income Tax - I,Tiruchirapalli.... Appellant/ Appellant Vs.K.Sampath... Respondent/ Respondent K.Sampath Appeal preferred under Section 260A of the Income TaxAct, 1961, against the order of the Income Tax AppellateTribunal, Madras, "C" Bench, dated 27.02.2009 inI.TA.No.1347/Mds/2008, Assessment Year 2002-03 and against theorder passed by the Commissioner of Income Tax (Appeals),Trichy dated 05.04.2008 made in ITA.NO.185/07-08 for theAssessment Year 2002-2003 and against the order passed by theAssistant Commissioner of Income Tax,company circle I,Trichydated 28.12.2007 made in PAN/GIR.AAUPS8843 Q for theassessment Year 2002-203. For Appellant : Mr.M.Swaminathan, Senior Standing Counsel Asst.By M/s.S.PramalathaFor Respondent : Mr.Koushik for Mr.S.Sridhar JUDGMENT (Judgment was delivered by T.V.THAMILSELVI, J.) We have heard Ms.S.Premalatha, learned Standing Counselfor the appellant/Revenue and Mr.Koushik, learned counsel forthe respondent/ assessee.2.The appeal, filed by the Revenue under Section 260A ofthe Income Tax Act, 1961 (for short, the Act) is directedagainsttheorderdated27.02.2009madeinI.TA.No.1347/Mds/2008 on the file of the Income Tax AppellateTribunal, Chennai, “C” Bench (for brevity, the Tribunal) forthe Assessment Year 2002-03. 3.The appeal was admitted on 08.12.2009 on the followingsubstantial questions of law:“1.Whether on the facts and in thehttps://hcservices.ecourts.gov.in/hcservices/circumstances of the case, the Appellate Tribunal was right in deleting the addition ofRs.15,91,412/- being profit on sale ofNangavaram Pannai lands? and 2.Whether on the facts and in the circumstancesof the case, the Appellate Tribunal was rightin holding that the investment in the land hadto be considered only in the hands of the firmM/s.SouthernConstructionEnterprisesdisregarding all relevant evidence and relyingon irrelevant material?” 4.The learned Standing Counsel for the appellant submitsthat the above appeal is not pursued by the Revenue on accountof the Low Tax Effect in terms of Circular No.17/2019 dated08.08.2019 issued by the Central Board of Direct Taxes. By thesaid 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 isless than the threshold limit. 5.In the light of the said submissions, the above TaxCase Appeal is dismissed on account of the Low Tax Effect. Thesubstantial questions of law framed are left open. In theevent the tax effect in this case is above the thresholdlimit fixed in the said Circular, liberty is granted tothe Revenue to make a mention to this Court to restore theappeal to be heard and decided on merits. No costs. THE INCOME TAX APPELLATE TRIBUNAL, CHENNAI, ''C'' BENCH2.THE COMMISSIONER OF INCOME TAX I,TRICHIRAPALLI https://hcservices.ecourts.gov.in/hcservices/