The Commissioner Of Income Tax, Chennai v. M/S.sree Swamy Silk House

Coram THE HONOURABLE MR. JUSTICE M.M.SUNDRESHandTHE HONOURABLE MR. JUSTICE N.ANAND VENKATESH T.C.(A). No.281 of 2010 The Commissioner of Income Tax,Chennai. ... Appellant/Respondentvs. M/s.Sree Swamy Silk House,115, BTK Nambi Street,Kanchipuram. ... Respondent/Appellant Appeal filed under Section 260A of the Income Tax Act, 1961against the order of the Income Tax Appellate Tribunal "C"Bench, Chennai dated 09.10.2009 passed in I.T. A. 2032/Mds/2008against the order dated 31.07.2008 made in ITA No.175/07-08viz., The Commissioner of Income Tax (Appeals)IX, Chennai-34,against the Assessment order dated 31.12.2007 by the Income TaxOfficer, Ward I(1), Kanchipuram for the Assessment Year 2005-2006. For Appellant:Mr.T.Ravikumar For Respondent :Mr.VijayaraghavanJUDGMENT (Judgment of the Court was delivered by M.M.SUNDRESH, J.) The Revenue has filed this appeal by formulating thefollowing substantial questions of law in respect of theassessment year 2005-2006:"1.Whether the Tribunal was correct in restrictingthe claim of commission payment made to 20% on thetotal sales turn over especially in the absence of anyproof to substantiate the payment of such commission? 2.Whether on the facts and in the circumstances ofthe case the Tribunal was right in allowing thecommission payment of Rs.49.81 lakhs when admittedly https://hcservices.ecourts.gov.in/hcservices/ the declared income was only Rs.1,42,480/- and thattoo by producing self generated vouchers containingsignature only without even containing the name of theperson or the amount paid? 2.Heard the learned counsel appearing for the appellant andthe learned counsel appearing for the respondent. 3.When the matter is taken up for hearing, learned counselappearing for the appellant would submit that the Central BoardDirect Taxes by Circular No.3/2018 dated 11.07.2018 revised themonetary limits for filing appeals before the Appellate Tribunaland the High Court and for filing special leave petitions beforethe Supreme Court. As per the said circular, the monetary limitfor filing appeal before the High Court has been increased toRs.50,00,000/-. 4.In view of the circular issued by the Central BoardDirect Taxes in Circular No.3/2018 dated 11.07.2018, this taxcase appeal is dismissed on the ground of low tax effect,leaving the substantial questions of law open, which have beenframed for consideration. No costs. Sd/- Assistant Registrar(CS IV) //True Copy// mmiTo Sub Assistant Registrar 1.The Income Tax Appellate Tribunal, "C" Bench, Chennai. 2.The Commissioner of Income Tax, (Appeals)-IX, Chennai-34. 3.The Income Tax Officer, Ward I (1), Kanchipuram. +1cc to Mr.Karthik Ranganathan, Advocate Sr.53148 T.C.(A).No.281 of 2010 gjii[co]srg 21/08/2018