The Commissioner Of Income Tax, Coimbatore v. M/S.well Knit Industries, S.f

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED : 10.01.2022 CORAM : THE HON'BLE MR. JUSTICE R. MAHADEVANAND THE HON'BLE MR. JUSTICE MOHAMMED SHAFFIQ T.C.A.No.1309 of 2009 The Commissioner of Income Tax, Coimbatore. ... Appellant/ Respondent Versus M/s.Well Knit Industries, S.F.No.314/5, 15, Valampalayam Main Road, Anupparpalayam Post, Tirupur. ... Respondent/ Appellant Appeal preferred under Section 260A of the Income TaxAct, 1961, against the order of the Income Tax AppellateTribunal, Chennai, “D” Bench, dated 11.01.2008 inI.TA.No.1838/Mds/2006 against the order of the Commissioner ofIncome Tax(Appeal)-II,Coimbatore made in ITA.NO.176-C/04-05dated 28.04.2006 against the order of the Income Tax OfficerWard-I(3),Tirupur Made in PAN/GIR NO. dated31.03.2004 for the Assessment Year 2001-2002. For Appellant : Mr.M.Swaminathan, Senior Standing CounselAssisted by M/s.K.G.Usharani, Junior Standing CounselFor Respondent: No appearance (Judgment of the Court was delivered by R.MAHADEVAN, J.) This tax case appeal has been filed by the appellant /Revenue, challenging the order dated 11.01.2008 passed by theIncome Tax Appellate Tribunal, Bench 'D', Chennai, inI.T.A.No.1838/Mds/2006, relating to the assessment year 2001-02. 2.By order dated 24.11.2009, this court admitted theaforesaid tax case appeal on the following substantialhttps://hcservices.ecourts.gov.in/hcservices/question of law: “Whether the Tribunal was right in holding thatlevying interest under Section 234B of the IncomeTax Act, when the liability to pay advance tax aroseonly due to an amendment to Section 80HHC interestedby Taxation have Amendment Act, 2005 retrospectivelyw.e.f. 1.4.1992?" 3.When the matter was taken up for consideration, thelearned counsel for the appellant / Revenue brought to thenotice of this court the Circular No.17/2019 dated 08.08.2019issued by the Central Board Direct Taxes, wherein, it isstipulated that appeal shall not be filed/pursued by theDepartment before the High Court in cases where the tax effectdoes not exceed Rs.1,00,00,000/- (Rupees One Crore). It isalso submitted that the tax effect in this appeal is less thanthe threshold limit. 4.In the light of the aforesaid submissions made by thelearned counsel for the appellant / Revenue, the presentappeal, wherein, the tax effect is said to be less than themonetary limit imposed, is dismissed as withdrawn, keepingopen the substantial question of law for determination in anappropriate case. No costs. Assistant Registrar //True Copy// av Sub Assistant Registrar To 1. The Income Tax Appellate Tribunal, Chennai “D” Bench. 2. The Commissioner of Income Tax, Coimbatore. Coimbatore. 3.The Commissioner of Income Tax(Appeals II),Coimbatore. 4.The Income Tax Officer,Ward I(3),Tirupur. +1 cc to Mr.M.Swaminathan, Advocate Sr.NO. 2614 NMI(CO) https://hcservices.ecourts.gov.in/hcservices/