Tca/4/2010 Of Commissioner Of Income Tax v. A.periasamy

IN THE HIGH COURT OF JUDICATURE AT MADRAS Dated : 02.08.2018 Coram THE HONOURABLE MR. JUSTICE M.M.SUNDRESHandTHE HONOURABLE MR. JUSTICE N.ANAND VENKATESH T.C.(A). No.4 of 2010 Commissioner of Income Tax,Salem... Appellant/Appellantvs.A.Periasamy.. Respondent/RespondentAppeal filed under Section 260A of the Income Tax Act, 1961against the order of the Income Tax Appellate Tribunal "D"Bench, Chennai dated 03.07.2009 passed in I.T. (S.S.) A.Nos.97/Mds/2005 against order dated 01/04/2005 in ITA No.115/04-05 by the Commissioner of Income Tax(Appeals) Salem and againstorder dated 31.3.2003 in PAN/GIRNo.CCPP-007 by the DeputyCommissioner of Income Tax, Central Circle, Salem. For Appellant:Mr.T.R.Senthil Kumarand Ms.K.G.Usha Rani For Respondent :Mr.A.S.Sriramanfor Mr.S.Sridhar JUDGMENT (Judgment of the Court was delivered by M.M.SUNDRESH, J.) The Revenue has filed this appeal by formulating thefollowing substantial questions of law in respect of the blockassessment period 01.04.1990 to 08.02.2001:"1.Whether on the facts and in the circumstancesof the case, the Income Tax Appellate Tribunal wasright in confirming the deletion of the addition ofRs.60 lakhs, by the Commissioner of Income Tax(Appeals) under the head 'Loans and Advances, asevidence in the loose sheet found and seized duringthe search and which had been admitted by the assessee https://hcservices.ecourts.gov.in/hcservices/ as his undisclosed income in the statement underSection 132(4)? 2.Whether on the facts and in the circumstances ofthe case, the Income Tax Appellate Tribunal was rightin confirming the deletion of the addition of Rs.1lakhs relating to unaccounted marriage expenses by theCommissionerofIncomeTax(Appeals)withoutappreciating that the addition was based on the swornstatement recorded from the assessee under Section 132(4) of the Act which formed part of the evidence foundas a result of search? 3.Whether on the facts and in the circumstances ofthe case, the Income Tax Appellate Tribunal was rightin confirming the deletion made by the Commissionerof Income Tax (Appeals) of the addition made onaccount of loose sheets found and seized in the courseof search which revealed a sum of Rs.10 lakhs shown asamount due from one Sri.Ramki, when the assessee didnot file any evidence regarding the said document inthe course of the assessment but produced only anaffidavit from the debtor which did not contain evenhis address? 2.Heard the learned counsel appearing for the appellant andthe learned counsel appearing for the respondent. 3.When the matter is taken up for hearing, learned counselappearing for the appellant would submit that the Central BoardDirect Taxes by Circular No.3/2018 dated 11.07.2018 revised themonetary limits for filing appeals before the Appellate Tribunaland the High Court and for filing special leave petitions beforethe Supreme Court. As per the said circular, the monetary limitfor filing appeal before the High Court has been increased toRs.50,00,000/-. 4.In view of the circular issued by the Central BoardDirect Taxes in Circular No.3/2018 dated 11.07.2018, this taxcase appeal is dismissed on the ground of low tax effect,leaving the substantial questions of law open, which have beenframed for consideration. No costs. Sd/- Assistant Registrar(CS IV) //True Copy// Sub Assistant Registrar To 1.The Income Tax Appellate Tribunal,"D" Bench, Chennai."D" Bench, Chennai. 2.The Commissioner of Income Tax(Appeals),Salem. 3.The Deputy Commissioner of Income Tax, Central Circle, Salem. +1cc to Mr.S.Sridhar, Advocate Sr.52817 +1cc to Mr.T.R.Senthilkumar, Advocate Sr.52583 T.C.(A).No.4 of 2010 sj[co]srg 21/08/2018