Itta/15/2000 Of The Commissioner Of Income-Tax Visk v. As.harinarayana Palakonda

HONOURABLE THE CHIEF JUSTICE SHRI MADAN B.LOKURANDHONOURABLE SHRI JUSTICE SANJAY KUMAR INCOME TAX TRIBUNAL APPEAL NO.15 OF 2000 Dt: 30-12-2011. Between: COMMISSIONER OF INCOME TAXVISAKHAPATNAM .. APPELLANT AND A.HARI NARAYANAC/O.S.B.I.,PALAKONDA,SRIKAKULAM DISTRICT .. RESPONDENT HONOURABLE THE CHIEF JUSTICE SHRI MADAN B.LOKURANDHONOURABLE SHRI JUSTICE SANJAY KUMAR INCOME TAX TRIBUNAL APPEAL NO.15 OF 2000 JUDGMENT : (PER HON’BLE THE CHIEF JUSTICE SHRI Madan B.Lokur) The Revenue has filed this appeal under section 260A of theIncome Tax Act, 1961 (for short ‘the Act’) raising a substantial questionof law - whether the Income Tax Appellate Tribunal (for short ‘theTribunal’) was correct in holding that for claiming rebate under Section88 of the Act, the contributions, payments and investments made asper that Section need not have come from out of the incomechargeable to Income Tax. 2. The substantial question of law has arisen out ofI.T.A.No.1802/Hyd/93, decided on 20.4.1999 by the Tribunal. Therelevant assessment years are 1991-92 and 1992-93. 3. The assessee has made investments of Rs.42,000/- andRs.28,000/- in National Saving Certificates for two consecutive years. Learned counsel for the Revenue informs us that the tax effectin this case is less than Rs.10,000/- for each of the assessment years. 4. It is pointed out that in terms of Circular No.1903, dated28.10.1993 issued by the CBDT the tax limit for filing an appeal to theHigh Court is Rs.50,000/-. 5. In view of the insignificant quantum of tax, we decline to answer the question raised. 6. Accordingly, this appeal stands disposed of. Dt: 30-12-2011. ( MADAN B.LOKUR, CJ ) ( SANJAY KUMAR, J ) TNB