Madras High Court
Commissioner Of Income Tax vs Dr. M.P. Naresh Kumar on 5 February, 2021
T.C.A.No.349 of 2013
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATE: 05.02.2021
CORAM:
THE HON'BLE MR. JUSTICE M.DURAISWAMY
AND
THE HON'BLE MRS.JUSTICE T.V.THAMILSELVI
T.C.A.No.349 of 2013
Commissioner of Income Tax,
Chennai ... Appellant
v.
Dr. M.P. Naresh Kumar,
93, Poes Garden, Chennai. ... Respondent
Appeal preferred under Section 260A of the Income Tax Act, 1961,
against the order of the Income Tax Appellate Tribunal, Madras, “D”
Bench, dated 10.10.2012 in ITA.No.1914/Mds/2011 for the Assessment
Year 2006-07.
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T.C.A.No.349 of 2013
For Appellant : Mr. T.R. Senthil Kumar,
Senior Standing Counsel
Asst. By K.G. Usha Rani
Junior Standing Counsel.
For Respondent : Mr. R. Sivaraman
JUDGMENT
(Judgment was delivered by M. DURAISWAMY, J.)
We have heard Mr. T.R. Senthil Kumar,, learned Senior Standing
Counsel for the appellant/Revenue and Mr. R. Sivaraman for the
respondent/Assessee.
2.The appeal, filed by the Revenue under Section 260A of the
Income Tax Act, 1961 (for short, the Act) is directed against the order
dated 10.10.2012 made in ITA.No.1914/Mds/2011 on the file of the
Income Tax Appellate Tribunal, Chennai, “D”' Bench (for brevity, the
Tribunal) for the Assessment Year 2006-07.
3.The appeal was admitted on 13.11.2009 on the following
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T.C.A.No.349 of 2013
substantial question of law:
“Whether under the facts and circumstances
of the case, the Income Tax Appellate Tribunal was
right inholding that the 2 years expire only on
1.04.2006 with reference to the transfer of asset
made by the assessee on 01.04.2004 and
accordingly the income can be assessed only in
assessment year 2007-08?”
4.The learned Senior Standing Counsel appearing for the appellant
submits that the above appeal is 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
this case is less than the threshold limit.
5.In the light of the said submissions, the above Tax Case Appeal
is dismissed as withdrawn on account of the Low Tax Effect. The
substantial question of law framed is left open. In the event the tax effect
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T.C.A.No.349 of 2013
in this case 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
appeal to be heard and decided on merits. No costs.
[M.D., J.] [T.V.T.S., J.]
05.02.2021
Index : Yes/No
Internet : Yes
Rj
To
The Income Tax Appellate Tribunal,
Chennai, “D” Bench
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T.C.A.No.349 of 2013
M. DURAISWAMY, J.
and
T.V. THAMILSELVI, J.
Rj
T.C.A.No.349 of 2013
05.02.2021
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