Commissioner Of Income Tax v. Sarita Bhandari
In the High Court of Judicature at Madras Dated : 17.06.2020 Coram :
The Honourable Mr.Justice T.S.SIVAGNANAM and The Honourable Mrs.Justice PUSHPA SATHYANARAYANA Tax Case Appeal No.277 of 2014 Commissioner of Income Tax, Central Circle, Chennai.
...Appellant/Appellant -vsSarita Bhandari, 20, Erulappan Street, Chennai-600 079.
PAN AADPB92 61D
...Respondent/Respondent
APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 30.09.2010 made in I.T.A.No.591/Mds/2010 on the file of the Income Tax Appellate Tribunal 'D' Bench, Chennai, for the assessment year 2003-04, against the order of the Commissioner of Income Tax(Appeals)-II, Chennai, dated 25/01/10 made in ITA No.398/06-07, against the Assistant Commissioner of Income Tax, Central Circle-II(2) Chennai, dated 28/12/2006 made in PAN.No.AADPB9261D for the Assessment year 2003-2004. For Appellant:Mr.T.R.Senthil Kumar, Senior Standing Counsel assisted by Ms.K.G.Usha Rani, Junior Standing Counsel For Respondent:Mr.R.Sivakumar Judgment was delivered by T.S.Sivagnanam,J.
We have heard Mr.T.R.Senthil Kumar, learned Senior Standing Counsel assisted by Ms.K.G.Usha Rani, learned Junior Standing Counsel appearing for the appellant - Revenue and Mr.R.Sivakumar, learned counsel for the respondent - assessee.
2. This appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 is directed against the order dated 30.09.2010, made in I.T.A.No.591/Mds/2010 on the file of the Income Tax Appellate Tribunal 'D' Bench, Chennai, for the assessment year 2003-04.
3. The appeal was admitted on 18.08.2014, on the following substantial questions of law :
"1. Whether on the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in deleting the addition of Rs.69,60,700/- made on account of unexplained receipt from sale of diamond?
2. Whether on the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in holding that the addition made by Assessing Officer as unexplained receipts pertaining to sale of diamond under Section 68 of the Income Tax Act is not proper?"
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 08.8.2019 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 make a mention to this Court to restore the appeal to be heard and decided on merits. No costs.
Sd/- Assistant Registrar(CCC) //True Copy// Sub Assistant Registrar abr To 1.The Income Tax Appellate Tribunal 'D' Bench, Chennai.
2.The Commissioner of Income-Tax(Appeals)-II, 46,Mahatma Gandhi Raod, Nungambakka, Chennai-600 034.
3.The Assistant Commissioner of Income Tax, Central Circle-II(2), Chennai.
TCA.No.277 of 2014 VG-II(CO) CB(25/09/2020)