The Commissioner Of Income Tax, Chennai v. P.k.abubacker

In the High Court of Judicature at Madras Dated : 08.10.2018 Coram : The Honourable Mr.Justice T.S.SIVAGNANAM and The Honourable Mrs.Justice V.BHAVANI SUBBAROYAN Tax Case Appeal No.1080 of 2008 The Commissioner ofIncome Tax, Chennai ...AppellantVs P.K.Abubacker ...Respondent APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 12.1.2007 in ITANo.462/Mds/01 on the file of the Income Tax Appellate Tribunal Madras 'B' Bench for theassessment year 1988-89. For Appellant : Mrs.R.Hemalatha, SSC For Respondent : Mr.Ashok Pathy forM/s.Pass Associates Judgment was delivered by T.S.SIVAGNANAM,JHeard the learned counsel for the appellant.2. The Revenue preferred this appeal challenging the order passed by the Income Tax AppellateTribunal in ITA.No.462/Mds/01 for the assessment year 1988-89. 3. The above appeal has been admitted on 04.8.2008 on the following substantial questions of law : �i. Whether, on the facts and circumstances of the case, the Tribunal is right in holding that theingredients for the re-assessment under Section 147 is not available in the case on hand ?ii. Whether in the facts and circumstances of the case, the Tribunal was right in holding that theamount of Rs.9,90,000/- found in the assessee's bank account cannot be assessed in the re-assessment proceedings ? And iii. Whether in the facts and circumstances of the case, the Tribunal was right in holding that theamount of Rs.9,90,000/- found in the assessee's bank account is in the nature of capital receipt ?�4. It may not be necessary for us to answer the above substantial questions of law, as the monetarylimit in this appeal is lesser than the amount fixed by the circular instructions issued by the CentralBoard of Direct Taxes. This Court had an occasion to consider the effect of those circulars inTCA.No.395 of 2018 dated 24.7.2018, the relevant portions of which are as follows : �4. Further, it is relevant to note that by Circular No.3/2018, dated 11.7.2018, monetary limit hasfurther been increased and appeals be maintainable before the High Courts. It has been increased toRs.50,00,000/-. Hence, viewed from any angle, this appeal could not have been filed. 5. Thus, by applying the above Circular issued by the CBDT, this appeal ought not to have been filed by the Revenue and hence, for that reason, this tax case appeal is dismissed and the substantialquestions of law, framed for consideration, are left open.�5. In the light of the above, the above appeal is dismissed. No costs. The substantial questions of laware left open for consideration. 08.10.2018 Internet : Yes To The Income Tax Appellate Tribunal, Madras 'B' Bench. RS T.S.SIVAGNANAM,J AND V.BHAVANI SUBBAROYAN,J RS TCA.No.1080 of 2008