Madras High Court
Commissioner Of Income Tax vs M/S.Silver Shoes Pvt. Ltd on 1 July, 2021
T.C.A.Nos.819 and 820 of 2014
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 01.07.2021
CORAM
THE HON'BLE MR. JUSTICE M.DURAISWAMY
AND
THE HON'BLE MRS.JUSTICE R. HEMALATHA
T.C.A.Nos.819 and 820 of 2014
Commissioner of Income Tax,
Chennai. ... Appellant
in all appeals
Vs.
M/s.Silver Shoes Pvt. Ltd.,
T-62, Anna Nagar,
Chennai – 600 040. ... Respondent
in all appeals
Tax Case Appeals in T.C.A.Nos.819 and 820 of 2014 preferred
under Section 260A of the Income Tax Act, 1961, against the order of
the Income Tax Appellate Tribunal, Madras, “D” Bench, dated
12.09.2011 in I.T.A.Nos.107/Mds/2009 and 979/Mds/2009, respectively
for the Assessment Years 1993-94 and 1994-95 respectively.
Page 1/5
T.C.A.Nos.819 and 820 of 2014
For Appellant : Mr.J.Narayanaswamy
Senior Standing Counsel
in all appeals
For Respondent : Mr.M.Kaushik
for Mr.S.Sridhar
in all appeals
COMMON JUDGMENT
(Judgment was delivered by M.DURAISWAMY, J.)
We have heard Mr.J.Narayanaswamy, learned Senior Standing
Counsel for the appellant/Revenue and Mr.M.Kaushik for Mr.S.Sridhar,
learned counsel for the respondent/assessee.
2.The above appeals, filed by the Revenue under Section 260A of
the Income Tax Act, 1961 (for short, the Act), are directed against the
order dated 12.09.2011 made in I.T.A.Nos.107/Mds/2009 and
979/Mds/2009, on the file of the Income Tax Appellate Tribunal,
Madras, “D” Bench (for brevity, the Tribunal) for the Assessment Years
1993-94 and 1994-95 respectively.
Page 2/5
T.C.A.Nos.819 and 820 of 2014
3.The above appeals were admitted on 10.11.2014 on the
following substantial question of law:
“Whether under the facts and circumstances of the
case, the Income Tax Appellate Tribunal was correct in
deleting the penalty, imposed by the Assessing Officer on
the assessee under Section 271(1)(c) of the Income Tax Act,
1961?”
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 is 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are dismissed as withdrawn on account of the Low Tax Effect.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 question of law framed is left open. In the event the tax effect
Page 3/5
T.C.A.Nos.819 and 820 of 2014
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 Court to
restore the above appeals to be heard and decided on merits. No costs.
[M.D., J.] [R.H., J.]
01.07.2021
Index : Yes/No
Internet : Yes
mkn
To
1.The Income Tax Appellate Tribunal,
Madras, “D” Bench.
2.The Commissioner of Income Tax,
Chennai.
Page 4/5
T.C.A.Nos.819 and 820 of 2014
M.DURAISWAMY, J.
and
R. HEMALATHA, J.
mkn
T.C.A.Nos.819 and 820 of 2014
01.07.2021
Page 5/5
