The Commissioner Of Income Tax,Chennai v. M/S.argus Cosmetics Ltd

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED : 27.08.2019 CORAM : The Honourable Mr.Justice T.S.SIVAGNANAMand The Honourable Mrs.Justice V.BHAVANI SUBBAROYAN Tax Case Appeal No.132 of 2015 The Commissioner of Income Tax,Chennai...Appellant Vs M/s.Argus Cosmetics Ltd.,4, Sujatha Centre, Seshadri Road, Alwarpet,Chennai - 600 018....Respondent APPEAL under Section 260A of the Income Tax Act, 1961againsttheorderdated25.09.2013madeinITA.No.1275/MDS/2013 on the file of the Income TaxAppellate Tribunal, Chennai 'C' Bench for the assessmentyear 2007-08 and Against the order of the Commissioner ofIncome Tax Appeals VI,Chennai dated 22.11.2013 made inITA.NO.115/2012-2013 for the Assessment Year(AY) 2007-2008. and Against the order dated 30.09.2009 made UnderSection 143(3) of the IT.ACT 196/ on the file of the DeputyCommissioner of Income Tax Company Circle (1), Chennai. For Appellant: Mr.T.Ravikumar, SSC and Ms.R.Hemalatha, SSCFor Respondent : No appearance JUDGMENT(Judgment was delivered by T.S.Sivagnanam,J.) We have heard Mr.T.Ravikumar, learned Senior StandingCounsel, and Ms.R.Hemalatha, learned Senior StandingCounsel appearing for the appellant/revenue. 2.This appeal, filed by the Revenue under Section 260Aof the Income Tax Act, 1961 is directed against the orderdated 25.09.2013 made in ITA.No.1275/MDS/2013 on the file https://hcservices.ecourts.gov.in/hcservices/ of the Income Tax Appellate Tribunal, Chennai 'C' Bench forthe assessment year 2007-08. 3.The appeal was admitted on 23.03.2015 on thefollowing substantial question of law :"Whether on the facts and in thecircumstances of the case, the Tribunal wasright in holding that the depreciation forthe assessment year 1997-98 to 1999-2000can be carried forward in total foreverespecially when Section 32(2) prior to01.04.2002 had clearly stated the samecould not be carried forward for more than8 years?" 4.The learned Senior Standing Counsel for theappellant submits that the above appeal is not pursued bythe Revenue on account of the low tax effect in terms ofCircular No.17/2019 dated 08.8.2019 issued by the CentralBoard of Direct Taxes. By the said Circular, the monetarylimit for filing or pursuing an appeal before the HighCourt has been increased to Rs.1 Crore. It is furthersubmitted that the tax effect in this case is less than thethreshold limit. 5.In the light of the said submissions, the above taxcase appeal is dismissed on account of the low tax effect.The substantial question of law framed is left open. In theevent the tax effect is above the threshold limit fixed inthe said circular, liberty is granted to the Revenue tomake a mention to this Court to restore the appeal to beheard and decided on merits. No costs. Sd/- Assistant Registrar(CS) To