Commissioner Of Income Tax,Chennai v. Respondent: Notice Served

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 22.07.2021 CORAM THE HON'BLE MR.JUSTICE M.DURAISWAMYAND THE HON'BLE MRS.JUSTICE R. HEMALATHA T.C.A.No.12 of 2015 Commissioner of Income Tax,Chennai.... Appellant/Appellant Vs. Smt.PadmapriyaNo.152, KKR Gardens, II Cross St.,Thapalpetti, Madhavaram,Chennai – 600 060.... Respondent/Respondent Appeal preferred under Section 260A of the Income Tax Act,1961, against the order of the Income Tax Appellate Tribunal,Madras, “D” Bench, dated 02.05.2014 in I.TA.No.1892/Mds/2013,Assessment Year 2009-10 against the order of the Commissioner ofIncome Tax (Appeals)IV, Chennai. Dated 18/04/2013 inI.T.A.No.557 of 2011 to 2012 pertaining to Assessment year 2009to 2010 against the order of Income Tax Officer, Business Ward-XI(4), Chennai. Dated 29/12/2011 in PAN.No. . Respondent: Notice served JUDGMENT (Judgment was delivered by M.DURAISWAMY, J.) We have heard Mr.J.Narayanaswamy, learned Senior StandingCounsel for the appellant/Revenue. 2.The appeal, filed by the Revenue under Section 260A of theIncome Tax Act, 1961 (for short, the Act) is directed againstthe order dated 02.05.2014 made in I.TA.No.1892/Mds/2013 on thefile of the Income Tax Appellate Tribunal, Chennai, “D” Bench(for brevity, the Tribunal) for the Assessment Year 2009-10. https://hcservices.ecourts.gov.in/hcservices/ 3.The appeal was admitted on the following substantialquestions of law:“1.Whether on the facts and in thecircumstances of the case the Tribunal was rightin deducting the entire addition of unexplainedcash credit of Rs.2,83,92,116/- when the assesseehad not produced necessary details and explainedthe credit? 2.Whether in the facts and in thecircumstances of the case the Tribunal was rightin deleting the entire addition of unexplainedcash credit of Rs.2,83,92,116/- based on thevidences filed before the CIT (A) without givingopportunity to the assessing officer under Rule46A?” 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 questions of law framed are left open.In the 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. Assistant Registrar(CS VII) //True Copy// Sub Assistant Registrar mkn To 1.The Income Tax Appellate Tribunal, “D” BenchChennai, 2. The Commissioner of Income Tax, Appeals(IV), Chennai. 3. The Income Tax Officer,Business Ward XI(4),Chennai. SRA(CO)HS(09/08/2021) T.C.A.No.12 of 2015