Madras High Court
Principal Commissioner Of Income ... vs M/S.Shri.Ankit A.Jain on 5 January, 2021
TCA.No.482 of 2020
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 05.01.2021
CORAM :
The Honourable Mr.Justice T.S.SIVAGNANAM
and
The Honourable Ms.Justice R.N.MANJULA
Tax Case Appeal No.482 of 2020
Principal Commissioner of Income Tax,
Non-Corporate Circle 9,
Nungambakkam, Chennai - 600 034. ...Appellant
Vs
M/s.Shri.Ankit A.Jain,
No.3/2, Latangs Road,
Vepery, Chennai - 600 007. ...Respondent
APPEAL under Section 260A of the Income Tax Act, 1961 against the
order dated 29.11.2019 made in ITA.No.1471/CHNY/2019 on the file of the
Income Tax Appellate Tribunal, Madras 'A' Bench for the assessment year
2015-16.
For Appellant: Mr.R.Karthik Ranganathan
Senior Standing Counsel
For Respondent: Mr.Ashok Pathy
for M/s.Pass Associates
1/6
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TCA.No.482 of 2020
JUDGMENT
(Delivered by T.S.Sivagnanam,J)
We have heard Mr.R.Karthik Ranganathan, learned Senior Standing
Counsel for the Appellant – Revenue and Mr.Ashok Pathy, learned counsel
appearing for the respondent.
2. This appeal, filed by the Revenue under Section 260A of the Income
Tax Act, 1961 (for short, the Act) is directed against the order 29.11.2019
made in ITA.No.1471/CHNY/2019 on the file of the Income Tax Appellate
Tribunal, Madras 'A' Bench (for brevity, the Tribunal) for the assessment
year 2015-16.
3. The appellant has raised the following substantial questions of law
for consideration:
“1.Whether on the facts and circumstances of
the case and in law, the Hon'ble Tribunal was
right and justified in setting aside the order
passed by the Assessing Officer to re-examine the
matter when the Assessing Officer has already
duly examined the matter before passing the
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TCA.No.482 of 2020
assessment order?
2.Whether on the facts and circumstances of
the case and in law, the Hon'ble ITAT was right
and justified in not dismissing the appeal of the
assessee as done by the ITAT "A" Bench, Chennai
in ITA.No.827/Chny/2019 dt.11.06.2019 in the
case of Smt.Rekha Jain, and by ITAT "C" Bench,
Chennai in ITA.No.3009/Chny/2018 in the case of
Harish Kumar HUF, when the facts and
circumstances of those cases are exactly similar
to the present case?
3.Whether on the facts and circumstances of
the case and in law, the Hon'ble ITAT was right
and justified in remitting the issue back to the file
of Assessing Officer and shifting the onus to the
Revenue with a direction that the Assessing
Officer shall bring on record the role of the
assessee in promoting the company and the
relationship of the assessee, if any with the
promoters, role of the assessee in inflating the
prices of shares etc?"
4. The learned Senior Standing Counsel appearing for the appellant
submits that the above appeal is not pursued by the Revenue on account of
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TCA.No.482 of 2020
the low tax effect in terms of Circular No.17/2019 dated 08.8.2019 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 is above the threshold limit
fixed in the said circular, liberty is granted to the Revenue to file a petition
before this Court to restore the appeal to be heard and decided on merits. No
costs.
(T.S.S.,J.) (R.N.M.,J.)
05.01.2021
Index: Yes/No
Internet:Yes/No
Speaking Judgment/Non speaking Judgment
hvk
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TCA.No.482 of 2020
To
1. The Income Tax Appellate Tribunal,
Madras 'A' Bench.
2. Principal Commissioner of Income Tax,
Non-Corporate Circle 9,
Nungambakkam, Chennai - 600 034.
https://www.mhc.tn.gov.in/judis/
TCA.No.482 of 2020
T.S.SIVAGNANAM,J
AND
R.N.MANJULA,J
hvk
TCA.No.482 of 2020
05.01.2021
https://www.mhc.tn.gov.in/judis/
