Tca/510/2014 Of The Commissioner Of Income Tax v. M/S Anusha Investments Ltd

IN THE HIGH COURT OF JUDICATURE AT MADRAS CORAM THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAMandTHE HONOURABLE MRS.JUSTICE V.BHAVANI SUBBAROYAN Tax Case Appeal No.510 of 2014 Commissioner of Income Tax,Chennai... Appellant-vs- M/s.Anusha Investments Ltd.,(Rep. By Sundaran Clayton Ltd.),No.29, Haddows Road, Chennai-600 006... Respondent APPEAL under Section 260A of the Income Tax Act, 1961 againstthe order dated 14.11.2013, made in I.T.A.No.1219/Mds/2013 onthe file of the Income Tax Appellate Tribunal 'D' Bench, Chennaifor the assessment year 2008-09 against the order of theCommissioner of Income Tax (Appeals)IX, Chennai dated 21.02.2013passed in Appeal No. 290/2010-2011 and against the order underSection 143(3) of the Income Tax Act 1961, dated 03.12.2010passed by the Assistant Commissioner of Income Tax, CompanyCircle 1(4) Chennai 34. For Appellant:Mr.T.Ravikumar,Senior Standing Counsel For Respondent :No Appearance This appeal filed by the Revenue under Section 260A of theIncome-tax Act, 1961 is directed against the order dated14.11.2013, made in I.T.A.No.1219/Mds/2013 on the file of theIncome Tax Appellate Tribunal 'D' Bench, Chennai for theassessment year 2008-09. 2.The appeal was admitted on 13.08.2014, on the followingsubstantial question of law:- https://hcservices.ecourts.gov.in/hcservices/ “Whether on the facts and in the circumstancesof the case, the Income Tax Appellate Tribunal wasright in holding that disallowance should berestricted to 2% of the exempted incomearbitrarily instead of disallowance in theentirety under Section 14 read with Rule 8D of theIncome Tax Rules?” 3.Heard Mr.T.Ravikumar, learned Senior Standing Counsel forthe appellant. 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.17/2019,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 this case is lessthan the threshold limit. 5. In the light of the said submissions, the above tax caseappeal is 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 appeal to be heard and decided onmerits. No costs. s/d- Assistant Registrar(CS VIII) True Copy Sub-Assistant Registrar abrTo 1.The Income Tax Appellate Tribunal 'D' Bench, Chennai. +1 CC to Mr.T.Ravikumar, Advocate sr 72372.+1 CC to M/s. Subbaroya Aiyar, Advocate sr 73374. GP(CO)SP(18/11/2019)