The Commissioner of Income-tax, Ward IV(1), Chennai v. Nirmala Chandrasekaran
[Citation -2019-LL-0819-139]
| Citation | 2019-LL-0819-139 |
|---|---|
| Appellant Name | The Commissioner of Income-tax, Ward IV(1), Chennai |
| Respondent Name | Nirmala Chandrasekaran |
| Court | HIGH COURT OF MADRAS |
| Relevant Act | Income-tax |
| Date of Order | 19/08/2019 |
| Assessment Year | 2002-03 |
| Judgment | View Judgment |
| Keyword Tags | low tax effect • monetary limit • investment income • capital gain • rate of tax |
| Bot Summary: | 654/Mds/2006 on the file of the Income Tax Appellate Tribunal, Chennai 'B' Bench for the assessment year 2002-03. For Appellant: Mr.T.R.Senthilkumar, SSC assisted by Ms.K.G.Usharani, SC For Respondent: Mr.G.Baskar Judgment was delivered by T.S.Sivagnanam,J We have heard Mr.T.R.Senthilkumar, learned Senior Standing Counsel, assisted by Ms.K.G.Usharani, learned Standing Counsel appearing for the appellant Revenue and Mr.G.Baskar, learned counsel appearing for the respondent assessee. This appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 is directed against the order dated 14.12.2007 made in ITA. No.654/Mds/2006 on the file of the Income Tax Appellate Tribunal, Chennai 'B' Bench for the assessment year 2002-03. 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. |