The Commissioner Of Income Tax, Chennai 600 034 v. M/S. Tamilnadu Cricket Association, M.a.chidambaram Stadium, Victoria Hostel Road, Chennai 600 005

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED : 22.03.2022 CORAM : THE HONOURABLE MR. JUSTICE R. MAHADEVANand THE HONOURABLE MR. JUSTICE J.SATHYA NARAYANA PRASAD TCA.No.438 of 2012 The Commissioner of Income Tax, Chennai 600 034. ... Appellant Vs M/s. Tamilnadu Cricket Association, M.A.Chidambaram Stadium, Victoria Hostel Road, Chennai 600 005.... Respondent Appeal preferred under Section 260A of the Income Tax Act,1961, against the order of the Income Tax Appellate Tribunal,“B” Bench, Chennai, dated 10.04.2012 in I.TA.No.1851/Mds/2011as against the order of the Commissioner of Income Tax(Appeals)-XI, 121, Mahatma Gandhi Road, Nungambakkam, Chennai-34made in ITA.No.129/2009-2010 dated 18.08.2021 as against theorder of the Deputy Director of Income Tax (Exemption)-1,Chennai-34 in PAN/GIR.No.1611-T dated 15.12.2009 for theAssessment year 2006-2007. For Appellant: Mr.J.NarayanaswamySenior Standing CounselFor Respondent : Mr.C.Seethapathy (Judgment of the Court was delivered by R.MAHADEVAN, J.) This tax case appeal has been filed by the appellant /Revenue, challenging the order dated 10.04.2012 passed by theIncome Tax Appellate Tribunal, 'B' Bench, Chennai, inI.T.A.No.1851/Mds/2011, relating to the assessment year 2007-2008. 2. By order dated 19.12.2012, this court admitted theaforesaid tax case appeal on the following substantial questionof law: https://hcservices.ecourts.gov.in/hcservices/ “Whether on the facts and in the circumstancesof the case, the Tribunal was right in holding that,the assessee is entitled to claim depreciation on theassets, in the form of application of income, eventhough the cost of purchase of asset was treated asapplication of income under section 11?" 3.When the matter was taken up for consideration, thelearned counsel for the appellant / Revenue brought to thenotice of this court the Circular No.17/2019 dated 08.08.2019issued by the Central Board Direct Taxes, wherein, it isstipulated that appeal shall not be filed/pursued by theDepartment before the High Court in cases where the tax effectdoes not exceed Rs.1,00,00,000/- (Rupees One Crore). It is alsosubmitted that the tax effect in this appeal is less than thethreshold limit. 4.In the light of the aforesaid submissions made by thelearned counsel for the appellant / Revenue, the present appeal,wherein, the tax effect is said to be less than the monetarylimit imposed, is dismissed as withdrawn, keeping open thesubstantial question of law for determination in an appropriatecase. No costs. Sd/- Assistant Registrar(CS-IX) //True Copy// Sub Assistant Registrar av To 1. The Income Tax Appellate Tribunal, “B” Bench, Chennai, 2. The Commissioner of Income Tax, Chennai 600 034. 3. The Deputy Director of Income Tax (Exemptions), Chennai - 600 034. 4. The Commissioner of Income Tax (Appeals), Chennai. TCA.No.438 of 2012 SPD(CO)SB(06/04/2022)