The Commissioner Of Income Tax, Chennai v. Shri G.karthik

In the High Court of Judicature at Madras Dated : 28.08.2019 Coram : The Honourable Mr.Justice T.S.SIVAGNANAMandThe Honourable Mrs.Justice V.BHAVANI SUBBAROYAN Tax Case Appeal No.768 of 2018 The Commissioner of Income Tax,Chennai....Appellant/AppellantVsShri G.KarthikPAN: AKKPK4869R...Respondent/Respondent APPEAL under Section 260A of the Income Tax Act, 1961 againstthe order dated 28.02.2018 made in ITA.No.2541/MDS/2017 on thefile of the Income Tax Appellate Tribunal, Chennai 'B' Bench forthe assessment year 2013-14 and against the order of theCommissioner of Income Tax (Appeals)2 Chennai made in I.T.A. No.232/CIT(A)-2/2015-2016 dated 28.07.2017 and against the order ofthe Income Tax officer Non Corporate Ward 1(4) Chennai made inPAN/GIR. No. AKKPK4869R dated 02.03.2016 for the assessment year2013-2014. For Appellant: Mr.T.Ravikumar, SSC and Ms.R.Hemalatha, SSCFor Respondent: Mr.A.S.Sriraman for Mr.S.Sridhar JUDGMENT(Judgment was delivered by T.S.Sivagnanam,J.) We have heard Mr.T.Ravikumar, learned Senior StandingCounsel, and Ms.R.Hemalatha, learned Senior Standing Counselappearing for the appellant/revenue and Mr.A.S.Sriraman, learnedcounsel for Mr.S.Sridhar, learned counsel appearing for therespondent/assessee. 2.This appeal, filed by the Revenue under Section 260A ofthe Income Tax Act, 1961 is directed against the order dated28.02.2018 made in ITA.No.2541/MDS/2017 on the file of theIncome Tax Appellate Tribunal, Chennai 'B' Bench for the https://hcservices.ecourts.gov.in/hcservices/ assessment year 2013-14. 3.The appeal has been filed by raising the followingsubstantial questions of law :“1.Whether the Tribunal was correct in holdingthat the Assessee was eligible for deductionu/s.54F especially when the conditions prescribedtherein have not been satisfied by the Assessee?2.Whether deduction u/s.54F is available to theAssessee even if the Assessee holds more than oneresidential property other than the new assetspurchased? 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. cse To 1.The Income Tax Appellate Tribunal, Chennai 'B' Bench. 2.The Commissioner of Income Tax (Appeals)2Chennai 3.The Income Tax OfficerNon Corporate Ward1(4) Chennai +1 CC to Mr.T.Ravikumar, Advocate sr 73685.+1 CC to Mr.S.Sridhar, Advocate sr 74496 NRJK(CO)SP(30/10/2019)