The Commissioner Of Income Tax vs M/S. Nippo Batteris Co. Ltd
2021 Latest Caselaw 11732 Mad

                                                                           T.C.A.No733 of 2014

                            IN THE HIGH COURT OF JUDICATURE AT MADRAS

                                                DATE: 15.06.2021

                                                      CORAM:

                                 THE HON'BLE MR. JUSTICE M.DURAISWAMY
                                                  AND
                                 THE HON'BLE MRS.JUSTICE R.HEMALATHA

                                               T.C.A.No733 of 2014


                      The Commissioner of Income Tax,
                      Chennai.                                             ... Appellant

                                                        v.



                      M/s. Nippo Batteris Co. Ltd.,
                      Pottipatti Plaza, 4th Floor,
                      77, N.H. Road,
                      Chennai – 600 003.                                   ... 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 18.08.2010 in ITA.No.819/Mds/2010 for the
                      Assessment Year 2000-200.1




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                                                                             T.C.A.No733 of 2014




                            For Appellant       : Mr. Karthik Ranganathan,
                                                  Senior Standing Counsel

                            For Respondent      : Mr. Venkatnarayanan


                                                    JUDGMENT

(Judgment was delivered by M. DURAISWAMY, J.)

We have heard Mr. Karthik Ranganathan, learned Senior Standing

Counsel for the appellant/Revenue and Mr. Venkatnarayanan, 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 18.08.2010 made in ITA.No.819/Mds/2010 on the file of the

Income Tax Appellate Tribunal, Chennai, "C" Bench (for brevity, the

Tribunal) for the Assessment Year 2000-2001.

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3. The above appeal was admitted on the following substantial

questions of law:

“ Whether on the facts and in the circumstances of the case and law the Income Tax Appellate Tribunal was right in law in quashing the order of the Commissioner of Income Tax passed u/s. 263 of the Income Tax Act?"

4. The learned Senior Standing Counsel appearing 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 question of law framed is left open. In the event the tax

effect in this case is above the threshold limit fixed in the said Circular,

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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.

Consequently, the connected Miscellaneous Petition is closed.

                                                                   [M.D., J.]   [R.H., J.]
                      Index : Yes/No                                       15.06.2021
                      Internet : Yes
                      Rj

                      To

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

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M. DURAISWAMY, J.

and R.HEMALATHA,J

Rj

T.C.A.No733 of 2014

15.06.2021

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