The Commissioner Of Income Tax, Chennai v. Shri T.t.dhevanathan

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 16.6.2020CORAM : THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAM AND THE HONOURABLE MRS.JUSTICE PUSHPA SATHYANARAYANA TAX CASE APPEAL NO.521 OF 2016 The Commissioner of Income Tax, Chennai ...Appellant/RespondentVsShri T.T.Dhevanathan ...Respondent/Appellant APPEAL under Section 260A of the Income Tax Act, 1961 againstthe order dated 11.12.2015 made in IT(SS)A.No.19/Mds/2013 on thefile of the Income Tax Appellate Tribunal, Chennai 'C' Bench forthe block period 01.4.1996 to 05.12.2002 against the order ofthe Commissioner of Income Tax(Appeals)-II 108, Mahatma GandhiRoad, Chennai 34 dated 25/04/2013 ITA No.58/11-12/A II,G.I.No/PAN No. for the Assessment year Block Period1.4.96 to 05/12/2002 and against the Assistant Commissioner ofIncome Tax, Central Circle II(5), Chennai 34, dated 31/12/2004PA No./GIR No.AACPD9566C/701-D status-Individual for theAssessment Block Period 01/04/1996 to 05/12/2002. For Appellant :Mr.T.Ravikumar, SSC &Mrs.R.Hemalatha, SSCFor Respondent :Mr.S.Janarthanan Judgment was delivered by T.S.Sivagnanam,J We have heard Mr.T.Ravikumar and Mrs.R.Hemalatha, learnedSenior Standing Counsel appearing for the appellant – Revenueand Mr.S.Janarthanan, learned counsel appearing for therespondent – assessee. 2. This appeal, filed by the Revenue under Section 260A ofthe Income Tax Act, 1961 (for short, the Act) is directedagainst the order dated 11.12.2015 made in IT(SS) https://hcservices.ecourts.gov.in/hcservices/ A.No.19/Mds/2013 on the file of the Income Tax AppellateTribunal, Chennai 'C' Bench (for brevity, the Tribunal) for theblock period 01.4.1996 to 05.12.2002. 3. The appeal has been admitted on 29.8.2016 on the followingsubstantial questions of law :“1. Whether on the facts and in thecircumstances of the case, the Tribunal wascorrect in deleting the additions madetowards sale of property which was based onthe evidence found during the course ofsearch and sworn statement recorded from theagreement holders ? And 2. Whether the finding of the Tribunal isproper by holding that the Assessing Officercould not determine the sale price based onthe average sale prices mentioned in theagreement with the property buyers ?" 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. //True Copy// To 1.The Income Tax Appellate Tribunal, Chennai 'C' Bench. 2.The Commissioner of Income Tax(Appeald)-II, 108, Mahatma Gandhi Road, Chennai 34 https://hcservices.ecourts.gov.in/hcservices/ TCA.No.521 of 2016 AD(CO)KKV/01/09/2020