The Commissioner Of Income Tax,Chennai v. M/S.subuthi Finance Ltd.,Chennai-6

In the High Court of Judicature at MadrasDated : 19.8.2019 The Honourable Mr.Justice T.S.SIVAGNANAM The Honourable Mrs.Justice V.BHAVANI SUBBAROYAN The Commissioner of Income Tax,Chennai ...Appellant/Respondent in all Appeals Vs M/s.Subuthi Finance Ltd.,Chennai-6 ...Respondent/Appellant in all Appeals APPEALS under Section 260A of the Income Tax Act, 1961against the common order dated 30.10.2009 made in ITA.Nos.1271to 1273/Mds/2009 on the file of the Income Tax AppellateTribunal, Chennai 'B' Bench respectively for the assessmentyears 1996-97 to 1998-99, against the order of the Commissionerof Income Tax(Appeals)-V, Chennai-34 made in ITA.Nos.118, 119 &120/206-07 dated 08.08.2008 against the order of the AssistantCommissioner of Income Tax, Company Circle VI(4), Chennai madein G.I.NO.Su-57/1996-97, Su-57/1997-98, and Su-57/1998-99 dated21.03.2006 for the assessment year 1996-97, 1997-98 and 1998-99. For Appellant: Mr.T.R.Senthilkumar, SSC assisted by Ms.K.G.Usharani, SC in all Cases For Respondent:Mr.A.S.Sriraman in all Cases (Judgment was delivered by T.S.Sivagnanam,J)We have heard Mr.T.R.Senthilkumar, learned Senior StandingCounsel assisted by Ms.K.G.Usharani, learned Standing Counselappearing for the appellant – Revenue and Mr.A.S.Sriraman,learned counsel for the respondent – assessee. https://hcservices.ecourts.gov.in/hcservices/ 2. These appeals, filed by the Revenue under Section 260A ofthe Income Tax Act, 1961, are directed against the common orderdated 30.10.2009 made in ITA.Nos.1271 to 1273/Mds/2009 on thefile of the Income Tax Appellate Tribunal, Chennai 'B' Benchrespectively for the assessment years 1996-97 to 1998-99. 3. The appeals were admitted on 14.2.2011 on the followingsubstantial question of law : “Whether, on the facts and in thecircumstances of the case, the AppellateTribunal was right in deleting the penaltyunder Section 271(1)(c), when the AssessingOfficer has clearly established withreference to evidence gathered that theassessee has concealed income and furnishedinaccurate particulars thereof, withoutapplying the ratio of the decision of theSupreme Court in the case of M/s.DharmendraTextile Processors [reported in 306 ITR 277]?” 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 question of law framed is left open. In the eventthe 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 To 1.The Income Tax Appellate Tribunal, Chennai 'B' Bench. 2.The Commissioner of Income Tax(Appeals)-V,Chennai-34. 3.The Assistant Commissioner of Income Tax,Company circle VI(4),Chennai. +1cc to Mr.T.R.Senthilkumar, Advocate sr.70466+1cc to Mr.S.Sridhar, Advocate sr.70081 TCA.Nos.1097 to 1099 of 2010 nmi(co)nr 14/10/2019