The Commissioner Of Income Tax, Chennai v. M/S.crescent Marine Ventures Ltd., Chennai-19

In the High Court of Judicature at Madras Dated : 16.6.2020 Coram : The Honourable Mr.Justice T.S.SIVAGNANAM and The Honourable Mrs.Justice PUSHPA SATHYANARAYANA Tax Case Appeal No.1021 of 2015 The Commissioner of Income Tax, ChennaiVsM/s.Crescent Marine Ventures Ltd.,Chennai-19. ...Appellant ...Respondent APPEAL under Section 260A of the Income Tax Act, 1961 againstthe order dated 25.5.2015 made in ITA.No.1110/Mds/2014 on thefile of the Income Tax Appellate Tribunal, Chennai 'B' Bench forthe assessment year 2003-04 against the order dated 31.01.2014made in ITA.No.399/13-14 on the file of the Commissioner ofIncome-Tax(A)(C)-II, Chennai for the Assessment year 2003-04 andas against the order dated 26.12.2008 made in GIR/PAN.AAACC2139Don the file of the Assistant Commissioner of Income-tax, CompanyCircle-1(3), Chennai-34 for the Assessment year 2003-2004. For Appellant:Mr.T.Ravikumar, SSC &Mrs.R.Hemalatha, SSC For Respondent:Mr.A.S.Sriraman Judgment was delivered by T.S.Sivagnanam,J We have heard Mr.T.Ravikumar and Mrs.R.Hemalatha learnedSenior Standing Counsel appearing for the appellant – Revenueand Mr.A.S.Sriraman, learned counsel appearing for therespondent. 1/3 https://hcservices.ecourts.gov.in/hcservices/ 2. This appeal, filed by the Revenue under Section 260A ofthe Income Tax Act, 1961 (for short, the Act) is directedagainst the order dated 25.5.2015 made in ITA.No.1110/Mds/2014on the file of the Income Tax Appellate Tribunal, Chennai 'B'Bench (for brevity, the Tribunal) for the assessment year 2003-04. 3. The appeal has been admitted on 02.11.2015 on thefollowing substantial questions of law : “i. Whether, on the facts and in thecircumstances of the case, the Tribunal wasright in holding that the reassessment orderpassed is null and void ? andii. Is not the finding of the Tribunalbad, especially when the income had escapedassessment and the Assessing Officer hasvalidly reopened the assessment ?” 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.17/2019dated 08.8.2019 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. -s/d- Assistant Registrar 2.The Commissioner of Income Tax(A)(C)-II,Chennai 2/3 3.The Assistant Commissioner of Income Tax,Company Circle -1(3)Chennai 34 4.The Commissioner of Income tax,Chennai. TCA.No.1021 of 2015 eu(co)aa29/09/2020 3/3