The Commissioner Of Income Tax, Chennai v. M/S. Nippo Batteris Co. Ltd.,Pottipatti Plaza, 4[Th] Floor

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATE: 15.06.2021 CORAM: THE HON'BLE MR. JUSTICE M.DURAISWAMYAND THE HON'BLE MRS.JUSTICE R.HEMALATHA T.C.A.No733 of 2014 The Commissioner of Income Tax, Chennai.... Appellant v. M/s. Nippo Batteris Co. Ltd.,Pottipatti Plaza, 4[th] Floor,77, N.H. Road,Chennai – 600 003. ... Respondent Appeal preferred under Section 260A of the Income Tax Act,1961, against the order of the Income Tax Appellate Tribunal,Madras, "C" Bench, dated 18.08.2010 in ITA.No.819/Mds/2010 forthe Assessment Year 2000-2001, filed against the order dated26.03.2010 passed by the Commissioner of Income Tax-III Chennaiin C.No.3033/7/111/2009-10 preferred against the assessmentorder of Assessment Officer / Assistant Commissioner of IncomeTax, Company Circle IV (4), Chennai-34 dated 14.12.2007 in PANNo.AAAC122912L, for the assessment year 2000-2001. For Appellant : Mr. Karthik Ranganathan, Senior Standing Counsel For Respondent : Mr. Venkatnarayanan (Judgment was delivered by M. DURAISWAMY, J.) We have heard Mr. Karthik Ranganathan, learned SeniorStanding Counsel for the appellant/Revenue and Mr.Venkatnarayanan, learned counsel for the respondent/assessee. 2.The appeal, filed by the Revenue under Section 260A of theIncome Tax Act, 1961 (for short, the Act) is directed againstthe order dated 18.08.2010 made in ITA.No.819/Mds/2010 on thefile of the Income Tax Appellate Tribunal, Chennai, "C" Bench(for brevity, the Tribunal) for the Assessment Year 2000-2001. 3. The above appeal was admitted on the followingsubstantial questions of law: “ Whether on the facts and in thecircumstances of the case and law the Income TaxAppellate Tribunal was right in law in quashingthe order of the Commissioner of Income Taxpassed u/s. 263 of the Income Tax Act?" 4. The learned Senior Standing Counsel appearing for theappellant submits that the above appeal is not pursued by theRevenue on account of the Low Tax Effect in terms of CircularNo.17/2019 dated 08.08.2019 issued by the Central Board ofDirect Taxes. By the said Circular, the monetary limit forfiling or pursuing an appeal before the High Court has beenincreased to Rs.1 crore. It is further submitted that the taxeffect in this case is less than the threshold limit. 5.In the light of the said submissions, the above Tax CaseAppeal is dismissed as withdrawn on account of the Low TaxEffect. The substantial question of law framed is left open.In the event the tax effect in this case is above the thresholdlimit fixed in the said Circular, liberty is granted to theRevenue to make a mention to this Court to restore the appeal tobe heard and decided on merits. No costs. Consequently, theconnected Miscellaneous Petition is closed. Sd/- Assistant Registrar(CS VI) //True Copy// Sub Assistant Registrar Rj To 1.The Income Tax Appellate Tribunal, Chennai,"C" Bench. 2.The Commissioner of Income Tax Chennai - III, Chennai. 3.The Commissioner of Income Tax Company Circle IV (4) Chennai - 34. +1cc to M/s.Subbaraya Aiyar Padmanabhan & Ramamani, Advocates(SR No.27814) T.C.A.No733 of 2014 GMI (CO)PR (27/07/2021)