The Commissioner Of Income Tax,Coimbatore v. M/S. Super Spinning Mills Limited

The Commissioner of Income Tax,Coimbatore. .. Appellant Vs M/s. Super Spinning Mills Limited,737, Green Fields, Puliakulam Road,Coimbatore-641 045.PAN Prayer : Tax Case (Appeal) is filed under Section 260A of theIncome Tax Act, 1961, against the order of the Income TaxAppellate Tribunal, Chennai 'A' Bench, dated 17.09.2008 passedin ITA No.910/Mds/2007 for the assessment year 1995-96, andagainst the Commissioner of Income Tax (Appeals)-I, Coimbatore,and made in 259/2006-07 dated 13/02/2007 and against theAssistant Commissioner of Income Tax, Circle -1(2), Coimbatore,PANo.AADC-50672G dated 20/096/2006 are against the Income TaxPAN No.AADCS0672G/S-40/ on Assessment Year 1995-96. 2. The Revenue has preferred this appeal challenging theorder passed by the Income Tax Appellate Tribunal Chennai 'A'Bench, dated 17.09.2008 passed in ITA No.910/Mds/2007 for theassessment year 1995-96. https://hcservices.ecourts.gov.in/hcservices/ 3. The above appeal has been admitted on 28.07.2009 on thefollowing substantial question of law :“Whether on the facts and in thecircumstances of the case the AppellateTribunal was right in law in holding thatthe interest under Section 234-D cannot belevied for the period prior to 1.6.2003 isvalid?'' 4. It may not be necessary for us to answer the abovesubstantial question of law, as the monetary limit in thisappeal is lesser than the amount fixed by the circularinstructions issued by the Central Board of Direct Taxes inCircular No.3/2018 dated 11.07.2018. The said circular coversthe issue regarding chargeability of interest also. Inparagraph 4 of the said Circular, it has been stated that incase the chargeability of interest is the issue under dispute,the amount interested shall be the tax effect. Since thequantum of interest charged under Section 234-D of the IncomeTax Act in the present case is being Rs.13,61,223/- which isless than Rs.50,00,000/- as stated in Circular No.3/2018 dated11.07.2018, the Tax Case (Appeal) is liable to be dismissed. 5. Accordingly, the present appeal is dismissed. No costs.The substantial question of law is left open for considerationin an appropriate case. slTo 1.The Income Tax Appellate Tribunal, Chennai 'A' Bench 2.The Assistant Commissioner, Income Tax, Circle-1(2), Coimbatore. +1cc to M/S.T.R.Senthilkumar, Advocate Sr.81301 +1cc to M/S.S.Sridhar, Advocate Sr.82343 https://hcservices.ecourts.gov.in/hcservices/