The Commissioner Of Income Tax,Chennai v. Shri A.rajalakshmipan: Agbpr6558F

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 28.08.2019 THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAMANDTHE HONOURABLE MRS.JUSTICE V.BHAVANI SUBBAROYAN Tax Case Appeal No.465 of 2018 The Commissioner of Income Tax,Chennai. ...Appellant/ Respondent Vs Shri A.RajalakshmiPAN: AGBPR6558F ...Respondent/Appellant APPEAL under Section 260A of the Income Tax Act, 1961 againstthe order dated 21.06.2017 made in ITA.No.514/MDS/2017 on thefile of the Income Tax Appellate Tribunal, Chennai 'B' Bench forthe assessment year 2012-13. Appeal against the Order dated31.01.2017 made in ITA No.34/2015-16/CIT(A)-3 on the file of theCommissioner of Income Tax (Appeals)-3, Chennai -34, for theAssessment Year 2012-13. Appeal against the Order dated 26.03.15made in PAN. on the file of the Income Tax Officer,Corporate Ward 5(4),Chennai for the Assessment Year 2012-13. For Appellant: Mr.T.Ravikumar, SSC and Ms.R.Hemalatha, SSCFor Respondent : Mr.M.P.Senthil Kumar JUDGMENT (Judgment was delivered by T.S.Sivagnanam,J.) We have heard Mr.T.Ravikumar, learned Senior StandingCounsel, and Ms.R.Hemalatha, learned Senior Standing Counselappearing for the appellant/revenue and Mr.M.P.Senthil Kumar,learned counsel appearing for the respondent/assessee. 2.This appeal, filed by the Revenue under Section 260A ofthe Income Tax Act, 1961 is directed against the order dated21.06.2017 made in ITA.No.514/MDS/2017 on the file of the IncomeTax Appellate Tribunal, Chennai 'B' Bench for the assessmentyear 2012-13.3.The appeal was admitted on 18.07.2018 on the followingsubstantial question of law : https://hcservices.ecourts.gov.in/hcservices/ “Whether deduction under Section 54 of theIncome Tax Act, 1961, is allowable on investmentmade in a residential house, when construction ofthe residential house is not even started within aperiod of three years from the date of transfer ofthe original asset?" 4.The learned Senior Standing Counsel for the appellantsubmits that the above appeal is 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 this case is lessthan the threshold limit. 5.In the light of the said submissions, the above tax caseappeal is dismissed on account of the low tax effect. Thesubstantial question of law framed is left open. In the eventthe tax effect is above the threshold limit fixed in the saidcircular, liberty is granted to the Revenue to make a mention tothis Court to restore the appeal to be heard and decided onmerits. No costs. cse Sd/- Assistant Registrar(CS VI) //True Copy// To Sub Assistant Registrar 1.The Income Tax Appellate Tribunal, Chennai 'B' Bench. 2.The Commissioner of Income Tax (Appeals)-3, Chennai -34, 3. The Income Tax Officer, Corporate Ward 5(4),Chennai +1cc to Mr.T.Ravikumar, Advocate, SR.No.73650+1cc to Mr.G.Baskar, Advocate, SR.No.74245 Kak(23/10/2019)