Tca/314/2013 Of Commissioner Of Income Tax v. K.inbasagaran

IN THE HIGH COURT OF JUDICATURE AT MADRAS THE HON'BLE MR. JUSTICE T.S. SIVAGNANAMAND THE HON'BLE MR. JUSTICE SATHI KUMAR SUKUMARA KURUP Commissioner of Income Tax,Chennai. ... Appellant/Appellant K.Inbasagaran... Respondent/Respondent Appeal preferred under Section 260A of the Income Tax Act,1961, against the order of the Income Tax Appellate Tribunal,Madras, “D” Bench, dated 31.05.2012 in I.TA.No.952/Mds/2009,Assessment Year 1993-94. Against the order of the Commissioner of Income Tax AppealsIV Chennai dated 11.03.2009 in Appeal No.CIT (A) IV/CHE/793/06-07 for the Assessment year 1993-94 and against the order of theDeputy Commissioner of Income tax Central Circle 1(2) Chennai 34dated 12.02.1999 PAN/GIR No.47-075 PY-0029 for the AssessmentYear 1993-94. For Respondent : Mr.A.S.Sriraman (Judgment was delivered by T.S. SIVAGNANAM, J.) We have heard Mr.J.Narayanaswamy, learned Senior StandingCounsel for the appellant/Revenue and Mr.A.S.Sriraman forMr.S.Sridhar, learned counsel for the respondent/assessee. 2.The appeal, filed by the Revenue under Section 260A of theIncome Tax Act, 1961 (“the Act” for brevity) is directed againstthe order dated 31.05.2012 made in I.TA.No.952/Mds/2009 on thefile of the Income Tax Appellate Tribunal, Chennai, “D” Bench(“the Tribunal” for brevity) for the Assessment Year 1993-94. https://hcservices.ecourts.gov.in/hcservices/ 3.The appeal was admitted on 26.11.2013 on the followingsubstantial question of law:“Whether on the facts and in the circumstancesof the case, the Tribunal was right in deleting theaddition of Rs.8 lakhs with respect to unexplainedmoney in the form of fixed deposits by merelyrelying on the judicial proceedings concerningPrevention of Corruption Act, in which the revenuewas not the party to that judicial proceedings?” 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 08.08.2019 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 this case is lessthan the threshold limit. 5.In the light of the said submissions, the above Tax CaseAppeal is dismissed as withdrawn on account of the Low TaxEffect.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. Inthe 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(CS II) //True Copy// Sub Assistant Registrar mknTo 1.The Income Tax Appellate Tribunal, Chennai, “D” Bench Rajaji Bhavan Besant Nagar, Chennai-90. 2.The Commissioner of Income Tax Appeal IV, 121 Nungambakkam High Road, Chennai-34. 3.The Deputy Commissioner of Income Tax, Central Circle (2), 121, Nungambakkam High Road, Chennai-34. Central Circle (2), 121, Nungambakkam High Road, Chennai-34. 4.The Assistant Commissioner of Income Tax Circle XIII, 121, Nungambakkam High Road, Chennai-34. 121, Nungambakkam High Road, Chennai-34. +1cc to Mr.Sridhar, Advocate Sr.42221 T.C.A.No.314 of 2013 mg[co]srg 02/11/2021