The Commissioner Of Income Tax, Chennai v. M/S.simpson & General Financeco. Ltd., Chennai-2

In the High Court of Judicature at Madras Coram : The Honourable Mr.Justice T.S.SIVAGNANAM and The Honourable Mrs.Justice V.BHAVANI SUBBAROYAN The Commissioner of Income Tax, Chennai ...Appellant/Respondent Vs M/s.Simpson & General FinanceCo. Ltd., Chennai-2. ...Respondent/Appellant APPEALS under Section 260A of the Income Tax Act, 1961against the common order dated 18.3.2015 made in ITA.Nos.2655 to2661/Mds/2014 on the file of the Income Tax Appellate Tribunal,Chennai 'A' Bench respectively for the assessment years from2002-03 to 2008-09 against the order of the commissioner ofIncome Tax (Appeals)-VI, Chennai-34 made in ITA.Nos.1589/13-14/A-VI, 1590/13-14/A-VI, 1591/13-14/A-VI, 1592/13-14/A-VI,1593/13-14/A-VI, 1594/13-14/A-VI and 1595/13-14/A-VI order dated30.09.2014 for the Assessment years 2002-03 to 2008-09respectively and preferred against the order of the AssistantCommissioner of Income Tax, Company Circle VI(3), Chennai madein AABCS 1868A/Com.Cir-VI(3)/2013-2014 order dated 31.07.2013for the Assessment years 2002-2003 to 2008-2009. For Appellant:Mr.T.R.Senthilkumar, SSC assisted byMs.K.G.Usharani, SCFor Respondent:Mr.R.Venkatanarayanan for M/s.Subbaraya Aiyer Padmanabhan 1/3 (Judgment was delivered by T.S.Sivagnanam,J) We have heard Mr.T.R.Senthilkumar, learned Senior StandingCounsel assisted by Ms.K.G.Usharani, Standing Counsel appearingfor the appellant – Revenue and Mr.R.Venkatanarayanan, learnedcounsel appearing for the respondent – assessee. 2. These appeals, filed by the Revenue under Section 260A ofthe Income Tax Act, 1961, are directed against the common orderdated 18.3.2015 made in ITA.Nos.2655 to 2661/Mds/2014 on thefile of the Income Tax Appellate Tribunal, Chennai 'A' Benchrespectively for the assessment years from 2002-03 to 2008-09. 3. The appeals were admitted on 12.7.2016 on the followingsubstantial question of law :“Whether, on the facts and in thecircumstances of the case, the Tribunal wasright in holding that penalty levied underSection 271(1)(c) is not sustainable?” 4. The learned Senior Standing Counsel for the appellantsubmits that the above appeals are 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 the respectivecases is less than the threshold limit. 5. In the light of the said submissions, the above tax caseappeals are dismissed on account of the low tax effect. Thesubstantial question of law framed is left open. In the eventthe tax effect in the respective cases is above the thresholdlimit fixed in the said circular, liberty is granted to theRevenue to make a mention to this Court to restore the appealsto be heard and decided on merits. No costs. 2/3 To 1.The Income Tax Appellate Tribunal, Chennai 'A' Bench. 2.The Commissioner of Income Tax (Appeals)-VI Chennai-34 3.The Assistant Commissioner of Income TaxCompany Circle VI (3) ChennaiCompany Circle VI (3) Chennai +1 cc to M/s.Subbaraya Aiyar Padmanabhan Advocate sr75933 +1 cc to M/s.T.R.senthil kumar Advocate sr75711 TCA.Nos.359 to 365 of 2016 aa19/11/2019 3/3