The Commissioner Of Income Tax,Chennai v. M/S.vira Properties (Madras) Pvt.ltd.,New

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED : 27.08.2019 CORAM : THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAMANDTHE HONOURABLE MRS.JUSTICE V.BHAVANI SUBBAROYAN Tax Case Appeal No.7 of 2015 The Commissioner of Income Tax,Chennai....Appellant/ Appellant Vs M/s.Vira Properties (Madras) Pvt.Ltd.,New No.158, Old No.781, Anna Salai,Chennai - 600 002....Respondent/ RespondentAPPEAL under Section 260A of the Income Tax Act, 1961againsttheorderdated17.06.2014madeinITA.No.735/MDS/2014 on the file of the Income Tax AppellateTribunal, Chennai 'D' Bench for the assessment year 2010-11against the order of the Commissioner of Income Tax AppealsIII, chennai 34 dated 05.11.2013 made in ITA.NO.1694/2013-2014 Against the order of the Assistant Commissioner ofIncome Tax, Company Circle (III) 4, Chennai made in GIR /PAN NO.451 V/AABCV 5241 Q dated 28.01.2013 the AssessmentYear 2010-2011. For Appellant: Mr.M.Swaminathan, SSC and Ms.V.Pushpa, SCFor Respondent: Mr.R.Venkatanarayanan for M/s.Subbaraya Aiyar Padmanabhan (Judgment was delivered by T.S.Sivagnanam,J.)We have heard Mr.M.Swaminathan, learned Senior StandingCounsel, and Ms.V.Pushpa, learned Standing Counselappearingfortheappellant/revenueandMr.R.Venkatanarayanan for M/s.Subbaraya Aiyar Padmanabhan,learned counsel appearing for the respondent/assessee. https://hcservices.ecourts.gov.in/hcservices/ 2.This appeal, filed by the Revenue under Section 260Aof the Income Tax Act, 1961 is directed against the orderdated 17.06.2014 made in ITA.No.735/MDS/2014 on the file ofthe Income Tax Appellate Tribunal, Chennai 'D' Bench forthe assessment year 2010-11. 3.The appeal was admitted on 10.02.2015 on thefollowing substantial question of law :“Whether in the facts and circumstancesof the case, the Appellate Tribunal wasright in holding that the income fromletting out of building and maintenancereceipts are assessable as businessincome?" 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) //True Copy// cse To1.THE INCOME TAX APPELLATE TRIBUNAL, CHENNAI 'D' BENCH. 2.THE COMMISSIONER OF INCOME TAX APPEALS III, CHENNAI 34 3.THE ASSISTANT COMMISSIONER OF INCOME TAX, COMPANY CIRCLE(III) 4, CHENNAI 34+1cc to M/s.Subbaraya Aiyar Padmanabhan,Advocate SR.No.73631+1cc to Mr.M.Swaminathan , Advocate SR.No. 73559TCA.No.7 of 2015A.SK(20/11/2019) https://hcservices.ecourts.gov.in/hcservices/