Madras High Court
Principal Commissioner Of Income ... vs Lister Technologies Pvt. Ltd on 29 April, 2021
T.C.A.Nos.290 to 293 of 2021
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 29.04.2021
CORAM
THE HON'BLE MR. JUSTICE M.DURAISWAMY
AND
THE HON'BLE MRS.JUSTICE R. HEMALATHA
T.C.A.Nos.290 to 293 of 2021
Principal Commissioner of Income Tax 2,
No.121, Mahatma Gandhi Road,
Chennai – 600 034. ... Appellant
in all appeals
Vs.
Lister Technologies Pvt. Ltd.,
No.232, V.M. Street,
Mylapore,
Chennai – 600 004. ... Respondent
in all appeals
Tax Case Appeals in T.C.A.Nos.290 to 293 of 2021 preferred
under Section 260A of the Income Tax Act, 1961, against the order of
the Income Tax Appellate Tribunal, Madras, “B” Bench, dated
23.03.2017 in I.T.A.Nos.3311/Mds/2016, 3313/Mds/2016,
3315/Mds/2016 and 3312/Mds/2016, respectively for the Assessment
Years 2005-06, 2007-08, 2010-11 and 2006-07 respectively.
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T.C.A.Nos.290 to 293 of 2021
For Appellant : Mr.Karthik Ranganathan
Senior Standing Counsel
in all appeals
COMMON JUDGMENT
(Judgment was delivered by M.DURAISWAMY, J.)
We have heard Mr.Karthik Ranganathan, learned Senior Standing
Counsel for the appellant/Revenue.
2.The above appeals, filed by the Revenue under Section 260A of
the Income Tax Act, 1961 (for short, the Act), are directed against the
order dated 23.03.2017 made in I.T.A.Nos.3311/Mds/2016,
3313/Mds/2016, 3315/Mds/2016 and 3312/Mds/2016, on the file of the
Income Tax Appellate Tribunal, Madras, “B” Bench (for brevity, the
Tribunal) for the Assessment Years 2005-06, 2007-08, 2010-11 and
2006-07 respectively.
3.The appellant/Revenue has raised the following substantial
questions of law in the above appeals :
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T.C.A.Nos.290 to 293 of 2021
“1.Whether on the facts and circumstances of the
case and in law, the Tribunal was right and justified in
holding that deduction u/s.10A should be first excluded
from the profits of the year before set off of brought forward
unabsorbed depreciation pertaining to the said unit?
2.Whether on the facts and circumstances of the case
and in law, the Tribunal erred in not following the decision
in CIT vs. Himatasingike Seide Ltd (Kar) 286 ITR 255
which was upheld in 100 DTR 37 (SC)?
3.Whether on the facts and circumstances of the case
and in law, the Tribunal was correct and justified in
ignoring the binding decision of co-ordinate bench in S R A
Systems Ltd vs. ACIT (ITA No.147/Mds/2012 - order dated
21.02.2014 and CIT vs. Chettinad Quartz Products Ltd (ITA
No.51/Mds/2014) on the same legal issue as against the
principle of biding precedent laid down by the
jurisdictional High Court in CIT vs. L G Ramamurthy and
others (110 ITR 453) and Apex Court in CIT vs. Sterling
Foods (237 ITR 579)?”
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T.C.A.Nos.290 to 293 of 2021
4.The learned Senior Standing Counsel for the appellant submits
that the above appeals are not pursued by the Revenue on account of the
Low Tax Effect in terms of Circular No.17/2019 dated 08.08.2019 issued
by the Central Board of Direct Taxes. By the said Circular, the monetary
limit for filing or pursuing an appeal before the High Court has been
increased to Rs.1 crore. It is further submitted that the tax effect in these
cases is less than the threshold limit.
5.In the light of the said submissions, the above Tax Case Appeals
are dismissed as withdrawn on account of the Low Tax Effect. The
substantial questions of law framed are left open. In the event the tax
effect in these cases is above the threshold limit fixed in the said
Circular, liberty is granted to the Revenue to make a mention to this
Court to restore the above appeals to be heard and decided on merits. No
costs.
[M.D., J.] [R.H., J.]
29.04.2021
mkn (2/2)
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T.C.A.Nos.290 to 293 of 2021
Index : Yes/No
Internet : Yes
To
1.The Income Tax Appellate Tribunal,
Madras, “B” Bench.
2.The Principal Commissioner of Income Tax 2,
No.121, Mahatma Gandhi Road,
Chennai – 600 034.
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T.C.A.Nos.290 to 293 of 2021
M.DURAISWAMY, J.
and
R. HEMALATHA, J.
mkn
T.C.A.Nos.290 to 293 of 2021
29.04.2021
(2/2)
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