Commissioner Of Income Tax - I vs K.Sampath
2021 Latest Caselaw 1285 Mad

                                                        T.C.A.No.961 of 2009

           IN THE HIGH COURT OF JUDICATURE AT MADRAS

                            DATE: 20.01.2021

                                  CORAM:

             THE HON'BLE MR. JUSTICE M.DURAISWAMY
                              AND
            THE HON'BLE MRS.JUSTICE T.V.THAMILSELVI

                          T.C.A.No.961 of 2009

Commissioner of Income Tax - I,
Tiruchirapalli.                                            ... Appellant
                                    Vs.


K.Sampath                                                  ... 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 27.02.2009 in I.TA.No.1347/Mds/2008, Assessment Year 2002-03.


      For Appellant    : Ms.S.Premalatha,
                         Standing Counsel
                         for Mr.M.Swaminathan,
                         Senior Standing Counsel

      For Respondent   : Mr.Koushik
                         for Mr.S.Sridhar




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                                                             T.C.A.No.961 of 2009


                                JUDGMENT

(Judgment was delivered by T.V.THAMILSELVI, J.)

We have heard Ms.S.Premalatha, learned Standing Counsel for the

appellant/Revenue and Mr.Koushik, learned counsel 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 27.02.2009

made in I.TA.No.1347/Mds/2008 on the file of the Income Tax Appellate

Tribunal, Chennai, “C” Bench (for brevity, the Tribunal) for the Assessment

Year 2002-03.

3.The appeal was admitted on 08.12.2009 on the following substantial

questions of law:

“1.Whether on the facts and in the circumstances of the case, the Appellate Tribunal was right in deleting the addition of Rs.15,91,412/- being profit on sale of Nangavaram Pannai lands? and

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2.Whether on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the investment in the land had to be considered only in the hands of the firm M/s.Southern Construction Enterprises disregarding all relevant evidence and relying on irrelevant material?”

4.The learned Standing Counsel 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 on account of the Low Tax Effect. The substantial questions of law

framed are left open. In the event the tax effect in this case is above the

threshold limit fixed in the said Circular, liberty is granted to the Revenue to

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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.]
Index : Yes/No                                    20.01.2021
Internet : Yes
va

To

The Income Tax Appellate Tribunal, Chennai, ''C'' Bench

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M.DURAISWAMY, J.

and T.V.THAMILSELVI, J.

va

T.C.A.No.961 of 2009

20.01.2021

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