Tca/883/2013 Of Commissioner Of Income Tax v. M/S Stanadyne Amalgamations

IN THE HIGH COURT OF JUDICATURE AT MADRAS THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAM and THE HONOURABLE MRS.JUSTICE V.BHAVANI SUBBAROYAN Commissioner of Income-tax,Chennai... Appellant/Respondent-vs- M/s.Stanadyne Amalgamations Pvt. Ltd.,96 Aranvoyal Village,Tiruvallur-602 025... Respondent/Appellant Appeal under Section 260A of the Income-tax Act, 1961,against the order dated 30.04.2013, on the file of the Income-taxAppellateTribunal'D'Bench,Chennai,inI.T.A.No.2152/Mds/2012 for the assessment year 2008-09, againstthe order dated 27/09/2012 on the file of the DeputyCommissioner of Income Tax Company Circle VI(4) Chennai made inPAN.No./GIR.No.AAFCS7717L for the assessment year 2008-09,against the order dated 09/08/2012 on the file of the Income TaxDepartment Dispute Resolution Panel, Chennai made inPAN.No.AAFCS7717L for the assessment year 2008-09. For Appellant:Mr.T.R.Senthil Kumar,Senior Standing Counsel assisted by Ms.K.G.Usharani,Junior Standing Counsel For Respondent :Mr.M.P.Senthil Kumar This appeal filed by the appellant/Revenue under Section 260Aof the Income-tax Act, 1961, is directed against the order dated30.04.2013, passed by the Income-tax Appellate Tribunal 'D'Bench, Chennai, in I.T.A.No.2152/Mds/2012 for the assessmentyear 2008-09. https://hcservices.ecourts.gov.in/hcservices/ 2.The above appeal was admitted, on 10.04.2014, on thefollowing substantial questions of law:-“(i) Whether under the facts and circumstancesof the case, the Income Tax Appellate Tribunal wasright in holding that the deduction under Section10B should be allowed before setting off thebrought forward depreciation/loss?(ii) Whether under the facts and circumstancesof the case, the Income Tax Appellate Tribunal wasright in holding that the assessee is eligible fordeduction under Section 10A in respect of profitsfrom STPI units, though there is positive profitavailable after the set off of the loss of non-STPI units?(iii) Whether under the facts and circumstancesof the case, the Income tax Appellate Tribunal wasright in holding that the assessee is eligible fordeduction under Section 10A in respect of its STPIunits though the assessee had returned loss?” 3.Heard Mr.T.R.Senthil Kumar, learned Senior Standing Counselassisted by Ms.K.G.Usharani, learned Junior Standing Counsel forthe appellant and Mr.M.P.Senthil Kumar, learned counsel for therespondent.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 questions of law framed are 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. Sd/- Assistant Registrar //True Copy// Sub Assistant Registrar To 1.The Income Tax Appellate Tribunal 'D' Bench, Chennai. 2.The Commissioner of Income Tax, Chennai. 3.The Deputy Commissioner of Income Tax,Company Circle VI(4), Chennai -34. 4.Income Tax Department,Dispute Resolution Panel Chennai,Chennai-34. +1cc to Mr.Subbaraya Aiyar, Advocate SR.No.72321+1cc to Mr.T.R.Senthil Kumar, Advocate SR.No.72304AKM/24.10.19/3P-7C/ T.C.A.No.883 of 2013