Tca/224/2017 Of Commissioner Of Income Tax v. Dr. Saphal Shetty

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 29.08.2019 CORAM THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAMandTHE HONOURABLE MRS.JUSTICE V.BHAVANI SUBBAROYAN Tax Case Appeal Nos.224 and 225 of 2017 and C.M.P.No.6616 of 2017 Commissioner of Income Tax,Chennai. ... Appellant in both Appeals/Appellate-vs- Dr.Shapal Shetty,No.670, 10[th] Cross West of Chord Road,Mahalakshmipuram Post,Bangalore-560 086.PAN: ALIPS 4414R ... Respondent in both Appeals/Respondent Appeals under Section 260A of the Income-tax Act, 1961,against the common order dated 04.12.2015, made inI.T.A.Nos.1319 & 1318/Mds/2015 on the file of the Income TaxAppellate Tribunal 'C' Bench, Chennai for the assessment years2004-05 and 2003-04 respectively, against the order dated 16/03/2015 made in ITA No.31 &49/CIT(A)-PDY.13-14 on the file of the Commissioner of IncomeTax (Appeals), Puducherry for the Assessment Year 2003-04, 2004-05 and against the order dated 22/12/2006 made in PANo/GI.No.ALIPS4414R/827-S on the file of the AdditionalCommissioner of Income Tax Pondicherry Range I, Pondicherry forthe Assessment Year 2004-2005 and against the order dated28/12/2007 made in PA No/G.I.No.ALIPS4414R/S-827 on the file ofthe Assistant Commissioner of Income Tax Circle I, Puducherryfor the Assessment Year 2003-04. For Appellant : Mr.T.R.Senthil Kumar,(In both Appeals) Senior Standing Counsel : assisted by Ms.K.G.Usharani, Standing Counsel For Respondent : Mr.T.Vasudevan(In both Appeals) COMMON JUDGMENT (Delivered by T.S.Sivagnanam, J.) These appeals filed by the Revenue under Section 260A of theIncome-tax Act, 1961 are directed against the common order dated04.12.2015, made in I.T.A.Nos.1319 & 1318/Mds/2015 on the fileof the Income Tax Appellate Tribunal 'C' Bench, Chennai for theassessment years 2004-05 and 2003-04 respectively. 2.The appeals have been filed raising the followingsubstantial question of law:-“Whether on the facts and in the circumstancesof the case and on grounds raised herein thetribunal was right in holding that addition onaccount of suppression of stock cannot be made?” 3.Heard Mr.T.R.Senthil Kumar, learned Senior Standing Counselassisted by Ms.K.G.Usharani, learned Standing Counsel for theappellant – and Mr.T.Vasudevan, learned counsel for therespondent. 4.The learned Senior Standing Counsel for the appellantsubmits that the above appeals are not pursued by the Revenue onaccount of the low tax effect in terms of Circular No.17/2019,dated 08.08.2019 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 these cases isless than the threshold limit. 5.In the light of the said submissions, the above tax caseappeals are 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 appeals to be heard and decided onmerits. No costs. Consequently, connected miscellaneouspetition is closed. Sd/- Assistant Registrar(CS VIII) //True Copy// Sub Assistant Registrar abr To 1.The Income Tax Appellate Tribunal 'C' Bench, Chennai. 2.The Commissioner of Income Tax (Appeals), Puducherry.3.The Additional Commisisoner of Income Tax, Puducherry Range, Pondicherry.4.The Assistant Commissioner of Income Tax Circle I, Puducherry. +1cc to Mr.T.R.Senthilkumar, Advocate Sr.75133T.C.A.Nos.224 and 225 of 2017sr[co]srg 08/11/2019