Commissioner Of Income-Tax,Chennai v. Shri.nesamani Maran

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED : 29.04.2021 CORAMTHE HON'BLE MR. JUSTICE M.DURAISWAMYAND THE HON'BLE MRS.JUSTICE R. HEMALATHAT.C.A.No.477 of 2013 Commissioner of Income-Tax,Chennai. ... Appellant Vs. Shri.Nesamani Maran,No.1, 9[th] Street,Dr.Radhakrishna Salai,Mylapore, Chennai – 600 004.... Respondent Appeal preferred under Section 260A of the Income TaxAct, 1961, against the order of the Income Tax AppellateTribunal, Madras, “A” Bench, dated 24.08.2012 inI.TA.No.1280/Mds/2011, Assessment Year 2002-03. Against theorder of the Commissioner of Income Tax (Appeals)-V, 121Mahatma Gandhi Road, Chennai-34, dated 08/04/2021 inITA.Nos.224, 225 and 226/09-10 against the order of theAssistant Commissioner of Income Tax, Company circle-IV (2)(i/c), Chennai-34, dated 30/11/2009 in P.A.No.ca.I.No.AAJPM4798C/704N for the Assessment year 2002-03. For Appellant : Mr.S.Rajesh Standing CounselFor Respondent : Mr.Lakshmi Sriram We have heard Mr.S.Rajesh, learned Standing Counsel forthe appellant/Revenue and Mr.Lakshmi Sriram, learned counselfor the respondent/assessee. 2.The appeal, filed by the Revenue under Section 260A ofthe Income Tax Act, 1961 (for short, the Act) is directedagainsttheorderdated24.08.2012madeinI.TA.No.1280/Mds/2011 on the file of the Income Tax AppellateTribunal, Chennai, “A” Bench (for brevity, the Tribunal) forthe 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 the case, theTribunal was right in holding that the payment made by M/s.MGMDiamond Beach Resorts P Ltd., to M/s.Anand Transport is nottaxable as deemed 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case isless than the threshold limit. 5.In the light of the said submissions, the above TaxCase Appeal is dismissed as withdrawn on account of the LowTax Effect. The substantial question of law framed is leftopen. In the event the tax effect in this case is above thethreshold limit fixed in the said Circular, liberty isgranted to the Revenue to make a mention to this Court torestore the appeal to be heard and decided on merits. Nocosts. Sd/- Assistant Registrar(CS IV) //True Copy// mkn To Sub Assistant Registrar 1.The Income Tax Appellate Tribunal, Chennai, “A” Bench 2.The Commissioner of Income Tax, Chennai. 3.The Commissioner of Income Tax Appeals-V, 121, Mahatma Gandhi Road, Chennai-344.The Assistant Commissioner of Income Tax, Company Circle IV (2)(i/c) Chennai - 34 +1CC to M/s. Lakshmi Sriram, Advocate, Sr.No.26604 https://hcservices.ecourts.gov.in/hcservices/