Madras High Court
The Commissioner Of Income Tax vs M/S.Apex Agencies on 19 February, 2021
T.C.A.Nos.1358 to 1360 of 2010
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATE: 19.02.2021
CORAM:
THE HON'BLE MR. JUSTICE M.DURAISWAMY
AND
THE HON'BLE MRS.JUSTICE T.V.THAMILSELVI
T.C.A.Nos.1358 to 1360 of 2010
The Commissioner of Income Tax,
Circle XV, Chennai. ... Appellant in all 3 TCAs
Vs.
M/s.Apex Agencies,
Pottipatti Plaza, II Floor,
New No.77, Nungambakkam High Road,
Chennai – 600 034. ... Respondent in all 3 TCAs
Appeals preferred under Section 260A of the Income Tax Act,
1961, against the order of the Income Tax Appellate Tribunal, Madras,
"A" Bench, dated 19.01.2010 in I.TA.Nos.1522 to 1524/Mds/2007,
Assessment Year 2000-01, 2001-02 & 2003-04.
For Appellant : Mr.T.Ravi Kumar
(in all 3 TCAs) Senior Standing Counsel
For Respondent : Mr.M.Kaushik
(in all 3 TCAs)
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T.C.A.Nos.1358 to 1360 of 2010
COMMON JUDGMENT
(Judgment was delivered by M.DURAISWAMY, J.)
We have heard Mr.T.Ravi Kumar, learned Senior Standing
Counsel for the appellant/Revenue and Mr.M.Kaushik, learned counsel
for the respondent/assessee.
2.The appeals, filed by the Revenue under Section 260A of the
Income Tax Act, 1961 (for short, the Act) are directed against the order
dated 19.01.2010 made in I.TA.Nos.1522 to 1524/Mds/2007 on the file
of the Income Tax Appellate Tribunal, Chennai, "A" Bench (for brevity,
the Tribunal) for the Assessment Years 2000-01, 2001-02 & 2003-04.
3.The appeals were admitted on 11.09.2012 on the following
substantial questions of law:
“1)Whether on the facts and circumstances of
the case, the Tribunal was right in deciding that re-
assessment under Section 147 in all these three years
is barred by limitation when the re-assessment order
was pased within the prescribed time limit on
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T.C.A.Nos.1358 to 1360 of 2010
31.03.2005?
2)Whether on the facts and circumstances of
the case, the Tribunal was right in deciding the issues
contrary to the law laid down in 25 ITR 79 (Mad),
219 ITR 214 (SC) and Chennai Bench Decision in
ITA.No.2323/Mds/03 dated 28.12.2006?”
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 are 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
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T.C.A.Nos.1358 to 1360 of 2010
Court to restore the appeals to be heard and decided on merits. No costs.
Index : Yes/No [M.D., J.] [T.V.T.S., J.]
Internet : Yes 19.02.2021
va
To
The Income Tax Appellate Tribunal, Chennai, "A" Bench
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T.C.A.Nos.1358 to 1360 of 2010
M.DURAISWAMY, J.
and
T.V.THAMILSELVI, J.
va
T.C.A.Nos.1358 to 1360 of 2010
19.02.2021
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