Tca/1079/2015 Of Commissioner Of Income Tax v. Shri Antony Joseph

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATE: 25.03.2021 CORAM: THE HON'BLE MR. JUSTICE M.DURAISWAMYAND THE HON'BLE MRS.JUSTICE T.V.THAMILSELVI T.C.A.No1079 of 2015 Commissioner of Income Tax, No.121, Mahatma Gandhi Road,Chennai - 600 034. ...Appellant .vs. Shri Antony Joseph,No.1141, 16th Avenue,Ashok Nagar, mChennai - 600 083PAN : AGE PA 7889 F. ...Respondent Appeal preferred under Section 260A of the Income Tax Act,1961, against the order of the Income Tax Appellate Tribunal,Madras, “B” Bench, dated 08.04.2015 in I.T.A.No.2362/Mds/2014for the Assessment Year 2007-2008 appeal against the order dated30/04/14 made in ITA No.965/13-14 on the file of CIT(Appeals)-IVChennai and against the order dated 18/12/2009 made in PAN/GIRNo AGEPA 7889F on the file of the ACIT Company Circle-II(4)Chennai for the Assessment year 2007-2008. For Appellant : Mr. Karthik RanganathanSenior Standing CounselFor Respondent : Mr.N.V. Balaji JUDGMENT (Judgment was delivered by M. DURAISWAMY, J.) We have heard Mr. Karthik Ranganathan, learned SeniorStanding Counsel for the appellant/Revenue and Mr. N.,V. Balajifor the respondent/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 08.04.2015 made in I.T.A.No.2362/Mds/2014 on thefile of the Income Tax Appellate Tribunal, Chennai, ''B'' Bench(for brevity, the Tribunal) for the Assessment Year 2007-2008. 3.The appeal was admitted on the following substantialquestion of law: “ Whether in the facts and circumstances ofthe case, the appellate Tribunal was right inholding that the addition made under section 2(22) of the Income Tax Act, 1961, is restrictedto Rs.35,51,333/- only, when the assesseereceived rs.98,10,990/- as advances, from thecompany?" 4.The learned Senior Standing Counsel appearing for theappellant submits that the above appeal is not pursued by theRevenue on account of the Low Tax Effect in terms of CircularNo.17/2019 dated 08.08.2019 issued by the Central Board ofDirect Taxes. By the said Circular, the monetary limit forfiling or pursuing an appeal before the High Court has beenincreased to Rs.1 crore. It is further submitted that the taxeffect in this case is less than the threshold limit. 5.In the light of the said submissions, the above Tax CaseAppeal is dismissed as withdrawn on account of the Low TaxEffect.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.In the 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 //True Copy// Rj Sub Assistant Registrar To 1. The Income Tax Appellate Tribunal, Chennai, ''B'' Bench Chennai, ''B'' Bench 2. The Commissioner of Income Tax, (Appeals) – IV, Chennai. (Appeals) – IV, Chennai. 3. The Assistant Commissioner of Income Tax, Company Circle-II(4, Chennai. +1cc to Mr.N.V.Balaji, Advocate, S.R.No.20353 T.C.A.No1079 of 2015 AJB(CO)RN(03/05/2021)