Commissioner Of Income Tax v. Shri. K.v.jayaraman

In the High Court of Judicature at Madras Coram : The Honourable Mr.Justice T.S.SIVAGNANAM and The Honourable Mrs.Justice PUSHPA SATHYANARAYANA Tax Case Appeal No.1020 of 2015 Commissioner of Income tax,No.63, Race Course Road,Coimbatore. ...Appellant/Respondent Vs Shri. K.V.Jayaraman,No.17, Sundaram Layout,Ramanathapuram,Coimbatore-641 045.PAN: ADJ PV 7536 L ...Respondent/Appellant APPEAL under Section 260A of the Income Tax Act, 1961 againstthe order dated 01.05.2015, made in I.T.A.No.2203/Mds/2014 onthe file of the Income Tax Appellate Tribunal 'B' Bench, Chennaifor the assessment year 2009-10. Against the Order of theCommissioner of Income Tax(Appeals) -1 Coimbatore, dated20.11.2013 in Appeal No.47/12-13 against the order of AssistantCommissioner of Income Tax Circle II Coimbatore dated 30.12.2011in PAN/GIR.No. Assistant year 2009-2010. For Appellant:Mr.T.R.Senthil Kumar,Senior Standing Counselassisted by Ms.K.G.Usha Rani,Junior Standing Counsel Respondent:Mr.L.Chandrakumar 1/3 Judgment was delivered by T.S.Sivagnanam,J. We have heard Mr.T.R.Senthil Kumar learned Senior StandingCounsel, assisted by Ms.K.G.Usha Rani, learned Junior StandingCounselappearingfortheappellant–RevenueandMr.L.Chandrakumar, learned counsel for the respondent-assessee. 2. This appeal, filed by the Revenue under Section 260A ofthe Income Tax Act, 1961 is directed against the order orderdated 01.05.2015, made in I.T.A.No.2203/Mds/2014 on the file ofthe Income Tax Appellate Tribunal 'B' Bench, Chennai for theassessment year 2009-10. 3. The appeal was admitted on 04.11.2015 on the followingsubstantial question of law :“Whether, on the facts and in the circumstancesof the case, the Appellate Tribunal was right inlaw in cancelling penalty levied under Section 271(1)(c) of the Income Tax Act by holding that thereis no difference between the returned income andassessee income?” 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 08.8.2019 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 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 appeal to be heard and decided onmerits. No costs. -s/d- Assistant Registrar abr True Copy Sub-Assistant Registrar 2/3 To 1.The Income Tax Appellate Tribunal 'B' Bench, Chennai. 2.The Commissioner of Income Tax(Appeals)-1 Coimbatore 3.The Assistant Commissioner of Income TaxeCircle-II, Coimbatore.Circle-II, Coimbatore. TCA.No.1020 of 2015 pvs(co)aa18/08/2020 3/3