Principal Commissioner Of Income Tax-2 v. M/S. Indian Bank

C.M.P.Nos.5111 & 5114 of 2022 in TCA.Nos.615 & 616 of 2016 R.MAHADEVAN, J, & MOHAMMED SHAFFIQ, J.

By order dated 24.08.2021, this Court, taking note of the submission made by the learned counsel for the appellant / Revenue that the tax effect in these appeals were less than the threshold limit fixed in the Circular No.17/2019, dated 08.08.2019 issued by Central Board of Direct Taxes, has dismissed the aforesaid appeals viz., T.C.A.Nos.615 and 616 of 2016 with liberty to the appellant / Revenue to restore the appeals to be heard and decided on merits, in the event of the tax effect being above the threshold limit fixed in the said Circular.

2.Heard the learned counsel for the petitioner /appellant/ Revenue, who submitted that as per the records, the tax effect in these appeals relating to the assessment years 2006-07 & 2008-09 are respectively Rs.11,43,43,544/- and Rs.85,47,22,990/- which are above the threshold limit. Therefore, in exercise of the liberty granted to the appellant, the 1/3

learned counsel prayed that the appeals may be restored on the file of this Court.

3.Learned counsel appearing for the respondent/assessee has no objection for restoration of the appeals.

4.Having regard to the submissions made by the learned counsel on either side and also considering the fact that the appellant has already been granted liberty at the time of dismissal of the appeals, these petitions are ordered as prayed for. Consequently, T.C.A.Nos.615 and 616 of 2016 are restored to file.

[R.M.D.,J.] [M.S.Q.,J.] 19.07.2022 msr 2/3

R.MAHADEVAN, J, & MOHAMMED SHAFFIQ, J.

msr C.M.P.Nos.5111 & 5114 of 2022 in TCA.Nos.615 & 616 of 2016 19.07.2022 3/3