Commissioner Of Income Taxsalem v. M/S. Kaveri's Bio Proteins Pvt. Ltd

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 04.09.2018 CORAM :THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAMandTHE HONOURABLE MRS.JUSTICE V.BHAVANI SUBBAROYAN Tax Case Appeal No. 1187 of 2008 Commissioner of Income TaxSalem ... Appellant -vs- M/s. Kaveri's Bio Proteins Pvt. Ltd.,No.2, Dr.Sankaran Road,Namakkal 637 002 ... Respondent Tax Case Appeal has filed under Section 260A of the Income Tax Act, 1961 against the order of theIncome Tax Appellate Tribunal Chennai 'D' bench dated 30.12.2005 in ITA No.1369/Mds/1997 For Appellant : Mrs.K.G.Usharani For Respondent : Mr.A.S.Sivaraman ******J U D G M E N T [Delivered by T.S.Sivagnanam, J.]Heard the learned counsel for the appellant and learned counsel for the respondent .2. This appeal, by the Revenue, is directed against the order of the Income-tax Appellate Tribunal inITA No.1369/Mds/1997 dated 30.12.2005 for the assessment year 1994-1995. 3.This appeal has been admitted on the following substantial question of law:-� Whether on the facts and circumstances of the case, the Tribunal was right in holding that theaddition made on account of unexplained cash credits by invoking the provisions of section 68 of theIncome Tax Act, 1961, cannot be sustained?� 4. Before we proceed to consider the substantial question of law raised in this appeal, we have tofirst take note of the fact that the tax effect in the present appeal relevant for the assessment year2011-12 is less than the threshold limit. In the case of Commissioner of Income Tax vs.N.Meenakshisundaram [Tax Case (Appeal) Nos.868 and 869 of 2008; Dated 23.04.2018], this Courthad an occasion to consider various circulars issued by the Central Board of Direct Taxes (CBDT) asregards the threshold limits fixed for filing the appeal by the Revenue or pursue the appeal, which ispending from 2008 onwards. 5. Further, it is relevant to note that by Circular No.3/2018, dated 11.07.2018, monetary limit has further been increased and appeals be maintainable before the High Courts. It has been increased toRs.50,00,000/-. Hence, viewed from any angle, the Revenue cannot pursue this appeal. 6. Thus, by applying the above Circular issued by the CBDT, the Revenue cannot pursue this appealand hence, for that reason, this tax case appeal is dismissed and the substantial questions of law,framed for consideration, are left open. No costs. [T.S.S., J.] [V.B.S., J.] 04.09.2018 jen/sra To Commissioner of Income TaxSalem T.S.Sivagnanam, J.and V.Bhavani Subbaroyan, J. jen/sra T.C.A.No.1187 of 2008