Madras High Court
Commissioner Of Income Tax vs M/S. Arvind Remedies Ltd on 18 February, 2021
T.C.A.No.235 of 2010
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATE: 18.02.2021
CORAM:
THE HON'BLE MR. JUSTICE M.DURAISWAMY
AND
THE HON'BLE MRS.JUSTICE T.V.THAMILSELVI
T.C.A.No.235 of 2010
Commissioner of Income Tax-1,
Chennai ... Appellant
v.
M/s. Arvind Remedies Ltd.,
New No.190, P.H. Road,
Chennai - 600 084. ... Respondent
Appeal preferred under Section 260A of the Income Tax Act,
1961, against the order of the Income Tax Appellate Tribunal, Madras,
“C” Bench, dated 18.09.2009 in ITA.No.2268/Mds/2008 for the
Assessment Year 2004-05..
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T.C.A.No.235 of 2010
For Appellant : Mr. T.Ravikumar,
Senior Standing Counsel
For Respondent : Mr. Venkatnarayanan
for M/s. S. Sridhar
JUDGMENT
(Judgment was delivered by M. DURAISWAMY, J.)
We have heard Mr. T.Ravikumar,, learned Senior Standing
Counsel for the appellant/Revenue and Mr. Venkatnarayanan 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 18.09.2009 made in ITA.No.2268/Mds/2008 on the file of the
Income Tax Appellate Tribunal, Chennai, ''C'' Bench (for brevity, the
Tribunal) for the Assessment Year 2004-05..
3.The appeal was admitted on 09.03.2010 on the following
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T.C.A.No.235 of 2010
substantial question of law:
“Whether on the facts and circumstances of
the case, the Income Tax Appellate Tribunal was
right in holding that the assessee was entitled to
higher rate of 15% depreciation on the building
which was used by the assessee only for storing
apparatus, equipments and tools on the ground that
the building constituted a plant?”
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is dismissed as withdrawn on account of the Low Tax Effect.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
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T.C.A.No.235 of 2010
effect 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.]
18.02.2021
Index : Yes/No
Internet : Yes
Rj
To
The Income Tax Appellate Tribunal,
Chennai, ''C'' Bench
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T.C.A.No.235 of 2010
M. DURAISWAMY, J.
and
T.V. THAMILSELVI, J.
Rj
T.C.A.No.235 of 2010
18.02.2021
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