Commissioner Of Income Tax,Chennai v. M/S.shriram Epc Ltd

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 29.08.2019 CORAM THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAMandTHE HONOURABLE MRS.JUSTICE V.BHAVANI SUBBAROYAN Tax Case Appeal Nos.642 and 643 of 2017 and C.M.P.No.16312 of 2017 Commissioner of Income Tax,Chennai... Appellant in bothAppeals -vs- M/s.Shriram EPC Ltd.,18/03, Rukmani Lakshmipathy Road,1[st] Floor, R.A.Building,Egmore, Chennai-600 008.PAN: AAFCS 1410 C.. Respondent in both Appeals Appeals under Section 260A of the Income-tax Act, 1961,against the common order dated 18.12.2015, made inI.T.A.Nos.2262 & 2263/Mds/2014 on the file of the Income TaxAppellate Tribunal 'D' Bench, Chennai for the assessment years2007-08 and 2008-09 respectively against the order dated30/03/2013 made in PAN on the fiel of the DeputyCommissioner of Income Tax, Company circle VI(2), Chennai-34 forthe Assessment year 2008-09, 2007-08 respectively and againstthe order dated 31/122010 made in PAN/GIR No. on thefile of the Assistant Commissioner of Income Tax Company Circle-VI(2) Chennai for the Assessment year 2008-09 and against theorder dated 31/12/2010 made in ITANS.65 on the file of theAssistant Commissioner of Income-Tax Company Circle VI(2)Chennai-34 for the Assessment year 2007-08. For Appellant:Mr.T.R.Senthil Kumar,(In both Appeals)Senior Standing Counsel:assisted by Ms.K.G.Usharani,Standing Counsel For Respondent:Mr.R.Sivaraman(In both Appeals) (Delivered by T.S.Sivagnanam, J.) These appeals filed by the Revenue under Section 260A of theIncome-tax Act, 1961 are directed against the common order dated18.12.2015, made in I.T.A.Nos.2262 & 2263/Mds/2014 on the fileof the Income Tax Appellate Tribunal 'D' Bench, Chennai for theassessment years 2007-08 and 2008-09 respectively. 2.The appeals have been filed raising the followingsubstantial question of law:-“Whether on the facts and in the circumstancesof the case the Tribunal was right in holding thatthe penalty u/s 271(1)(c) is not leviable on theassessee?” 3.Heard Mr.T.R.Senthil Kumar, learned Senior Standing Counselassisted by Ms.K.G.Usharani, learned Standing Counsel for theappellant – and Mr.R.Sivaraman, learned counsel for therespondent. 4.The learned Senior Standing Counsel for the appellantsubmits that the above appeals are not pursued by the Revenue onaccount of the low tax effect in terms of Circular No.17/2019,dated 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 these cases isless than the threshold limit. 5.In the light of the said submissions, the above tax caseappeals are dismissed on account of the low tax effect. Thesubstantial question of law framed is left open. In the eventthe tax effect is above the threshold limit fixed in the saidcircular, liberty is granted to the Revenue to make a mention tothis Court to restore the appeals to be heard and decided onmerits. No costs. Consequently, connected miscellaneouspetition is closed. Sd/-Assistant Registrar //True copy// abr Sub Assistant Registrar https://hcservices.ecourts.gov.in/hcservices/ To 1. The Income Tax Appellate Tribunal 'D' Bench, Chennai. 2. The Deputy Commissioner of Income Tax, Company circle VI(2), Chennai-34 Company circle VI(2), Chennai-34 3. The Assistant Commissionr of Income Tax, Company Circle VI(12), Chennai. Company Circle VI(12), Chennai. 4. The Assistant Commissioner of Income-Tax Company Circle VI(2) Chennai-600 034. Company Circle VI(2) Chennai-600 034. +1cc to Mr.T.R.Senthil Kumar, Advocate SR.No.75124 T.C.A.Nos.642 and 643 of 2017 SR(CO)GMY(12/11/2019)