Tca/955/2014 Of Commissioner Of Income Tax v. Shri P.c.kailash Chand Jain

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 26.08.2019 THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAMandTHE HONOURABLE MRS.JUSTICE V.BHAVANI SUBBAROYAN Commissioner of Income Tax,Trichy... Appellant in all Appeals-vs- Shri P.C.Kailash Chand Jain,18/5, Gandhij Road,Mayiladuthurai-609 001... Respondent in all Appeals APPEALS under Section 260A of the Income Tax Act, 1961against the common order dated 16.08.2011, made inI.T.A.No.651/Mds/2011,;C.O.No.71/Mds/2011;I.T.A.No.652/Mds/2011;C.O.No.72/Mds/2011;I.T.A.No.653/Mds/2011;C.O.No.73/Mds/2011;I.T.A.No.654/Mds/2011;C.O.No.74/Mds/2011;I.T.A.No.655/Mds/2011; and C.O.No.75/Mds/2011on the file of theIncome Tax Appellate Tribunal 'C' Bench, Chennai for theassessment years 2003-04, 2003-04, 2004-05, 2004-05, 2005-06,2005-06, 2006-07, 2006-07, 2007-08 and 2007-08 respectively, against the order dated 21/01/2011 and made in ITA 610 to614/08-09 on the file of the Commissioner of Income Tax(Appeals), Tiruchirapalli and against the order dated 22/12/2008and made in PAN/GIR No.K-13227 for the Assessment Year 2003-2004, 2004-2005, 2005-2006, 2006-2007, 2007-2008 on the file ofthe Income Tax Officer, Ward I(2), Kumbakonam respectively. https://hcservices.ecourts.gov.in/hcservices/ 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 orderdated16.08.2011,madeinI.T.A.No.651/Mds/2011,;C.O.No.71/Mds/2011; I.T.A.No.652/Mds/2011; C.O.No.72/Mds/2011;I.T.A.No.653/Mds/2011;C.O.No.73/Mds/2011;I.T.A.No.654/Mds/2011;C.O.No.74/Mds/2011;I.T.A.No.655/Mds/2011; and C.O.No.75/Mds/2011 on the file of theIncome Tax Appellate Tribunal 'C' Bench, Chennai for theassessment years 2003-04, 2003-04, 2004-05, 2004-05, 2005-06,2005-06, 2006-07, 2006-07, 2007-08 and 2007-08 respectively. 2.The above appeals were admitted on 22.12.2014, on thefollowing substantial questions of law:-“(i) Whether in the facts and circumstances ofthe case, the Income Tax Appellate Tribunal wasright in deleting the entire additions anddisallowance made by the Assessing Officer withoutconsidering the fact that the benefit ofdeclaration under VDIS has already been consideredby the Original Authority; therefore, on the samefacts, the Tribunal ought to have granted such arelief?(ii) Whether in the facts and circumstances ofthe case, the Income Tax Appellate Tribunal wascorrect in stating that additions should be on thebasis of diary entry contrary to the swornstatement by the assessee, which shows higherfigure and that has been considered by theAssessing Officer? (iii) Whether in the facts and circumstances ofthe case, the Income Tax Appellate Tribunal wascorrect in deleting the additions with respect toun-explained investment/income under variousheads?” 3.Heard Mr.M.Swaminathan, learned Senior Standing Counsel andMs.V.Pushpa, learned Standing Counsel for the appellant – andMr.T.Vasudevan, learned counsel for the respondent. 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 an https://hcservices.ecourts.gov.in/hcservices/ appeal 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. https://hcservices.ecourts.gov.in/hcservices/ appeal 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(CS IV) //True Copy// Sub Assistant RegistrarabrTo1.The Income Tax Appellate Tribunal 'C' Bench, Chennai.2.The Commissioner of Income Tax, Trichy.3.The Commissioner of Income Tax (Appeals), Tiruchirapalli.4.The Income Tax Officer, Ward I (2), Kumbakonam. +1cc to Mr.M.Swaminathan, Advocate Sr.73025 T.C.A.Nos.955 to 964 of 2014 vd[co]srg 12/11/2019