The Commissioner Of Income Tax,Chennai v. M/S.amsteel Castings P. Ltd

In the High Court of Judicature at Madras Dated : 27.08.2019 Coram : The Honourable Mr.Justice T.S.SIVAGNANAMandThe Honourable Mrs.Justice V.BHAVANI SUBBAROYAN Tax Case Appeal Nos.562 and 563 of 2015 The Commissioner of Income Tax,Chennai. ...Appellant Vs M/s.Amsteel Castings P. Ltd.,No.1C, Prince Apartments,No.59, Ormes Road, Chennai - 600 010....Respondent APPEALS under Section 260A of the Income Tax Act, 1961against the common order dated 05.08.2013 made inITA.No.967/Mds/2013 and ITA.No.1194/Mds/2013 on the file of theIncome Tax Appellate Tribunal, Chennai 'A' Bench for theassessment year 2009-10. Against the Order dated 19/2/13 made inITA No.253/11-12 on the file of the commissioner of Income Tax(Appeals)-IX, Chennai, for the assessment year 2009-10.Against the order dated 12/12/11 made in GIR PAN-AX-2017/ . On the file of the Joint Commissioner of IncomeTax(OSA)Company Circle-1(1) Chennai-34 for the assessment year2009-10. For Appellant : Mr.T.Ravikumar, SSC assisted by Ms.R.Hemalatha, SSC For Respondent: Mr.A.S.Sriraman for Mr.S.Sridhar COMMON JUDGMENT(Judgment was delivered by T.S.Sivagnanam,J) We have heard Mr.T.Ravikumar, learned Senior Standing Counselassisted by Ms.R.Hemalatha, learned Standing Counsel appearingfor the appellant – Revenue and Mr.A.S.Sriraman, learned counselfor Mr.S.Sridhar, learned counsel appearing for the respondent -assessee. 2.These appeals, filed by the Revenue under Section 260A ofthe Income Tax Act, 1961, are directed against the common orderdated05.08.2013madeinITA.No.967/Mds/2013andITA.No.1194/Mds/2013 on the file of the Income Tax AppellateTribunal, Chennai 'A' Bench for the assessment year 2009-10. 3.The appeals were admitted on 24.07.2015 on the followingsubstantial questions of law :TCA.No.562 of 2015:i) Whether on the facts and circumstances of thecase, the Income Tax Appellate Tribunal was right inholding that disallowance made under Section 80IA isto be allowed especially when the assessee has notfiled the signed copy of the ITR-V within the duedate as stipulated under Section 139 read with Rule12(3) of the Income Tax Act, 1961? ii) Whether the Tribunal is right in restoringthe matter of charging of interest under Section234A, 234B and 234C back to AO with a direction torecompute the same as per judgment of the SupremeCourt in the case of Pranoy Roy and another reportedin 309 ITR page 231 which dealt with assessment year95-96 after which 234A was amended by Finance Act,2006 and hence not applicable to the facts of thepresent case which dealt with assessment year 2009-10?TCA.No.563 of 2015:Whether on the facts and circumstances of thecase, the Income Tax Appellate Tribunal was right inholding that disallowance of interest made underSection 14 read with Rule 8D of the Income Tax Rulesnot proper?" 4.The learned Senior Standing Counsel for the appellantsubmits that the above appeals are 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 the respectivecases is less than the threshold limit. 5. In the light of the said submissions, the above tax caseappeals are dismissed on account of the low tax effect. Thesubstantial questions of law framed are left open. In the event https://hcservices.ecourts.gov.in/hcservices/ the tax effect in the respective cases is above the thresholdlimit fixed in the said circular, liberty is granted to theRevenue to make a mention to this Court to restore the appealsto be heard and decided on merits. No costs. Sd/- Assistant Registrar(CCC) //True Copy// Sub Assistant Registrar cse 5. In the light of the said submissions, the above tax caseappeals are dismissed on account of the low tax effect. Thesubstantial questions of law framed are left open. In the event https://hcservices.ecourts.gov.in/hcservices/ the tax effect in the respective cases is above the thresholdlimit fixed in the said circular, liberty is granted to theRevenue to make a mention to this Court to restore the appealsto be heard and decided on merits. No costs. Sd/- Assistant Registrar(CCC) //True Copy// Sub Assistant Registrar cse To1.The Income Tax Appellate Tribunal, Chennai A Bench.2.The Commissioner of Income Tax(Appeals)-IX, Chennai.3.The Joint Commissioner of Income Tax(OSA) Company Circle-1 (1), Chennai.+1cc to Mr.T.Ravi Kumar, Advocate SR.73347+1cc to Mr.S.Sridhar, Advocate SR.74514TCA.Nos.562 and 563 of 2015RSV(CO)CB(15/11/2019) 3