The Commissioner Of Income Tax, Chennai v. M/S.eagle Apparels Pvt. Limited

THE HON'BLE MRS.JUSTICE R. HEMALATHA The Commissioner of Income Tax,Chennai.... AppellantVs. M/s.Eagle Apparels Pvt. Limited,No.15, Race Course Road,Guindy, Chennai – 600 032.... Respondent Appeal preferred under Section 260A of the Income Tax Act,1961, against the order of the Income Tax Appellate Tribunal,Madras, “B” Bench, dated 06.02.2012 in I.TA.No.1534/Mds/2011,Assessment Year 1999-2000. As per appeal against the order dated 27.06.2010 made inI.T.A. No. 382/2005-2006/A-III on the file of the Office of theCommissioner of Income Tax (Appeals)III Chennai, PAN No. Assessment year 1999-2000.As per appeal against the order dated 27.06.2005 on the fileof the Assistant Commissioner of Income Tax Company Circle 11(i)Chennai 34 Assessment year 1999-2000, PAN No. . For Respondent : Mr.M.P.Senthil Kumar We have heard Mr.S.Rajesh, learned Standing Counsel for theappellant/Revenue and Mr.M.P.Senthil Kumar, learned counsel forthe 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 06.02.2012 made in I.TA.No.1534/Mds/2011 on thefile of the Income Tax Appellate Tribunal, Chennai, “B” Bench(for brevity, the Tribunal) for the Assessment Year 1999-2000. https://hcservices.ecourts.gov.in/hcservices/ 3.The appeal was admitted on 11.11.2013 on the followingsubstantial question of law:“Whether on facts and circumstances of thecase, the Income Tax Appellate Tribunal was rightin directing the assessing officer to compute thedeductions under Section 80HHC and 80IAindependently without reducing the profitcomputed under Section 80IA for the purpose ofclaiming deduction under Section 80HHC?” 4.The learned Standing Counsel for the appellant submitsthat the above appeal is not pursued by the Revenue on accountof the Low Tax Effect in terms of Circular No.17/2019 dated08.08.2019 issued by the Central Board of Direct Taxes. By thesaid 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case is lessthan the threshold limit. 5.In the light of the said submissions, the above Tax CaseAppeal is dismissed as withdrawn on account of the Low TaxEffect. The substantial question of law framed is left open. Inthe 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. s/d- Assistant Registrar True Copy Sub-Assistant Registrar To 1.The Income Tax Appellate Tribunal, Chennai, “B” Bench 2.The Commissioner of Income Tax, Chennai. 3.The Commissioner of Income Tax (Appeals)IIIChennai.Chennai.4.The Assistant Commissioner of Income TaxCircle 11(i) ChennaiT.C.A.No.596 of 2013Circle 11(i) ChennaiT.C.A.No.596 of 2013 PP(CO)SP(29/06/2021) https://hcservices.ecourts.gov.in/hcservices/