Commissioner Of Income-Tax,Chennai v. Shri M.g.muthuno

IN THE HIGH COURT OF JUDICATURE AT MADRAS CORAMTHE HON'BLE MR.JUSTICE M.DURAISWAMYAND THE HON'BLE MRS.JUSTICE R.HEMALATHA T.C.A.NO.478 OF 2013 Commissioner of Income-tax,Chennai.... Appellant/Appellant Vs. Shri M.G.MuthuNo.1, 9[th] Street, Dr.Radhakrishna Salai,Mylapore, Chennai – 600 004.... Respondent/Respondent Appeal preferred under Section 260A of the Income Tax Act,1961, against the order of the Income Tax Appellate Tribunal,Madras, “A” Bench, dated 24.08.2012 in I.TA.No.1281/Mds/2011,Assessment Year 2002-03. And against the order of the Commissioner of Income Tax(Appeals)-V, Chennai-34 dated 08.04.2011 in ITA.No.226/09-10,Assessment Year 2002-03 and against the order of the AssistantCommissioner of Income Tax Company Circle IV (2) (i/c) Chennai-34, dated 30.11.2009 in P.N.No/G.I.No.AEDDG2508E/702M Assessmentyear 2002-03. For Appellant : Mr.S.RajeshStanding CounselFor Respondent : Mr.B.Sivaraman JUDGMENT We have heard Mr.S.Rajesh, learned Standing Counsel for theappellant/Revenue and Mr.B.Sivaraman, learned counsel for therespondent/assessee. 2.The appeal, filed by the Revenue under Section 260A of theIncome Tax Act, 1961 (for short, the Act) is directed againstthe order dated 24.08.2012 made in I.TA.No.1281/Mds/2011 on thefile of the Income Tax Appellate Tribunal, Chennai, “A” Bench(for brevity, the Tribunal) for the Assessment Year 2002-03. https://hcservices.ecourts.gov.in/hcservices/ 3.The appeal was admitted on 28.10.2013 on the followingsubstantial question of law:“Whether on facts and circumstances of thecase, the Tribunal was right in holding that thepayment made by M/s.MGM Diamond Beach Resorts PLtd., to M/s.Anand Transport is not taxable asdeemed dividend taxable in the hand of theassessee?” 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case is lessthan the threshold limit. 5.In the light of the said submissions, the above Tax CaseAppeal is dismissed as withdrawn on account of the Low TaxEffect.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/- Assistant Registrar(CS III) //True Copy// mkn Sub Assistant Registrar To 1.The Income Tax Appellate Tribunal, Chennai, “A” Bench 2.The Commissioner of Income-tax (Appeals)-V, Chennai. 3.The Assistant Commissioner of Income Tax Company Circle – IV(2) (i/c)Chennai-34. +1cc to M/s.Lakshmi, Advocate, S.R.No.26603 NR(CO)CS/29/06/2021 T.C.A.No.478 of 2013 https://hcservices.ecourts.gov.in/hcservices/