Madras High Court
Commissioner Of Income Tax -I vs M/S.Arihant Foundations & ... on 23 July, 2021
T.C.A.No.38 of 2012
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 23.07.2021
CORAM
THE HON'BLE MR. JUSTICE M.DURAISWAMY
AND
THE HON'BLE MRS.JUSTICE R. HEMALATHA
T.C.A.No.38 of 2012
Commissioner of Income Tax -I,
Chennai. ... Appellant
Vs.
M/s.Arihant Foundations & Housing Limited,
271, Poonamallee High Road,
Kilpauk, Chennai - 600 010. ... 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 20.07.2011 in I.TA.No.657/Mds/2011, Assessment
Year 2005-06.
For Appellant : Mr.T.Ravi Kumar,
Senior Standing Counsel
For Respondent : Ms.Sriniranjani
for Mr.N.Muthukumar
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T.C.A.No.38 of 2012
JUDGMENT
(Judgment was delivered by M.DURAISWAMY, J.)
We have heard Mr.T.Ravi Kumar, learned Senior Standing
Counsel for the appellant/Revenue and Ms.Sriniranjani, 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 20.07.2011 made in I.TA.No.657/Mds/2011 on the file of the
Income Tax Appellate Tribunal, Chennai, “C” Bench (for brevity, the
Tribunal) for the Assessment Year 2005-06.
3.The appeal was admitted on 27.03.2012 on the following
substantial questions of law:
“1)Whether on the facts and in the
circumstances of the case, the Income Tax Appellate
Tribunal was right in dismissing the Revenue's
appeals as infructuous without going into the reasons
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T.C.A.No.38 of 2012
discussed in the assessment orders wherein it has
been made a clear that the Chennai Metropolitan
Development Authority, which issued the Plan
Permit had not issued any completion certificate to
the effect that the project was completed before
31.03.2008 which was condition to be satisfied for
being eligible for the deduction u/s. 80-1B(10)?"
4.The learned Senior 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 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 this case is above the threshold limit fixed in the said
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T.C.A.No.38 of 2012
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.] [R.H., J.]
23.07.2021
Index : Yes/No
Internet : Yes
mtl
To
The Income Tax Appellate Tribunal, Chennai, “C” Bench
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T.C.A.No.38 of 2012
M.DURAISWAMY, J.
and
R. HEMALATHA, J.
mtl
T.C.A.No.38 of 2012
23.07.2021
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