Commissioner of Income-tax, Chennai v. Baghmar Finance Ltd - 2019-LL-0819-122

Citation	2019-LL-0819-122
Appellant Name	Commissioner of Income-tax, Chennai
Respondent Name	Baghmar Finance Ltd.
Court	HIGH COURT OF MADRAS
Relevant Act	Income-tax
Date of Order	19/08/2019
Assessment Year	2006-07
Judgment	View Judgment
Keyword Tags	low tax effect • monetary limit • depreciation on wind mill
Bot Summary:	Respondent APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 23.4.2010 made in ITA.No. 1368/Mds/2009 on the file of the Income Tax Appellate Tribunal, Chennai 'A' Bench for the assessment year 2006-07. This appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 is directed against the order dated 23.4.2010 made in ITA.No. 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. It is further submitted that the tax effect in this case is less than the threshold limit. In the light of the said submissions, the above tax case appeal is dismissed on account of the low tax effect. 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.

TCA.No.971 of 2010 In High Court of Judicature at Madras Dated : 19.8.2019 Coram : Honourable Mr.Justice T.S.SIVAGNANAM and Honourable Mrs.Justice V.BHAVANI SUBBAROYAN Tax Case Appeal No.971 of 2010 Commissioner of Income Tax, Chennai ...Appellant Vs M/s.Baghmar Finance Ltd., Chennai-79. ...Respondent APPEAL under Section 260A of Income Tax Act, 1961 against order dated 23.4.2010 made in ITA.No.1368/Mds/2009 on file of Income Tax Appellate Tribunal, Chennai 'A' Bench for assessment year 2006-07. For Appellant: Mrs.R.Hemalatha, SSC For Respondent: Mr.A.S.Sriraman Judgment was delivered by T.S.Sivagnanam,J We have heard Mrs.R.Hemalatha, learned Senior Standing Counsel appearing for appellant Revenue and Mr.A.S.Sriraman, learned counsel for respondent assessee. 1/4 http://www.judis.nic.in TCA.No.971 of 2010 2. This appeal, filed by Revenue under Section 260A of Income Tax Act, 1961 is directed against order dated 23.4.2010 made in ITA.No. 1368/Mds/2009 on file of Income Tax Appellate Tribunal, Chennai 'A' Bench for assessment year 2006-07. 3. appeal was admitted on 25.10.2010 on following substantial question of law : Whether, on facts and circumstances of case, Tribunal was right in holding that assessee company is owner of asset and is entitled to depreciation on windmill at Rs.3,22,42,546/- ? 4. learned Senior Standing Counsel for appellant submits that above appeal is not pursued by Revenue on account of low tax effect in terms of Circular No.17/2019 dated 08.8.2019 issued by Central Board of Direct Taxes. By said Circular, monetary limit for filing or pursuing appeal before High Court has been increased to Rs.1 Crore. It is further submitted that tax effect in this case is less than threshold limit. 2/4 http://www.judis.nic.in TCA.No.971 of 2010 5. In light of said submissions, above tax case appeal is dismissed on account of low tax effect. substantial question of law framed is left open. In event tax effect is above threshold limit fixed in said circular, liberty is granted to Revenue to make mention to this Court to restore appeal to be heard and decided on merits. No costs. 19.8.2019 Internet: Yes To Income Tax Appellate Tribunal, Chennai 'A' Bench. RS 3/4 http://www.judis.nic.in TCA.No.971 of 2010 T.S.SIVAGNANAM,J AND V.BHAVANI SUBBAROYAN,J RS TCA.No.971 of 2010 19.8.2019 4/4 http://www.judis.nic.in Commissioner of Income-tax, Chennai v. Baghmar Finance Ltd

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