Commissioner of Income-tax, Central II, Chennai v. M. Rameshchand
[Citation -2019-LL-0905-72]

Citation 2019-LL-0905-72
Appellant Name Commissioner of Income-tax, Central II, Chennai
Respondent Name M. Rameshchand
Court HIGH COURT OF MADRAS
Relevant Act Income-tax
Date of Order 05/09/2019
Judgment View Judgment
Keyword Tags purchase of gold • monetary limit • tax effect • unaccounted jewellery
Bot Summary: JUDGMENT This Tax Case Appeal has been filed by the Revenue, calling in question the correctness of the order passed by the Income Tax Appellate 2/4 Judgment dt. 189/2010 Commissioner of Income Tax v. Shri M.Rameshchand the Central Board of Direct Taxes vide Circular No.17/2019, dated 8th August,2019, wherein, it is stipulated that appeals shall not be filed/pursued by the Department before the High Court in cases where the tax effect does not exceed Rs.1,00,00,000/-. In the instant case, the tax effect is said to be less than the monetary limit imposed and the Appeal filed by the Revenue is dismissed, as not pressed, keeping open the substantial questions of law for determination in appropriate cases. 4/4 Judgment dt.05.09.2019 in T.C.A.No.


IN HIGH COURT OF JUDICATURE AT MADRAS DATED CORAM HON'BLE DR.JUSTICE VINEET KOTHARI AND HON'BLE MR.JUSTICE C.SARAVANAN Tax Case Appeal No.189 of 2010 Commissioner of Income Tax, Central II, Chennai. Appellant Vs. Shri M.Rameshchand Respondent Appeal under Section 260-A of Income Tax Act, 1961, against order of Income Tax Appellate Tribunal, Chennai 'C' Bench, dated 31.07.2009, made in IT(SS) A.No.213/Mds/2006. For Appellant : Mr.T.R.Senthilkumar, Senior Standing Counsel, assisted by Mrs.K.G.Usharani For Respondent : Mr.A.S.Sivaraman, for Mr.S.Sridhar. JUDGMENT (By DR.VINEET KOTHARI,J.) This Tax Case Appeal has been filed by Revenue, calling in question correctness of order passed by Income Tax Appellate 2/4 Judgment dt. 05.09.2019 in T.C.A.No.189/2010 [Commissioner of Income Tax v. Shri M.Rameshchand] Tribunal, Chennai 'C' Bench, dated 31.07.2009, in IT(SS)A. No.213/Mds/2006, by raising following substantial questions of law : " (1) Whether on facts and in circumstances of case, Income Tax Appellate Tribunal was right in holding that out of 18814 gms of gold jewellery found at time of search, 16378 gms represented purchase from M/s.Laxmi Agency and only 2076 gms was unaccounted, without considering facts elaborately discussed in assessment order wherein it has been clearly shown that assessee's claim of purchase of gold jewellery from M/s.Laxmi Jewellery was clearly afterthought ? (2) Whether on facts and in circumstances of case, Income Tax Appellate Tribunal was right in holding that assessee's claim of purchase of gold jewellery from M/s.Laxmi Jewellery was genuine, solely based on order of Sales Tax Authorities, which in any case would not go to prove that alleged sale to assessee indeed had taken place ? 2. When matter is taken up for hearing, learned Standing Counsel for Department brought to our notice Circular instruction issued by http://www.judis.nic.in 3/4 Judgment dt.05.09.2019 in T.C.A.No.189/2010 [Commissioner of Income Tax v. Shri M.Rameshchand] Central Board of Direct Taxes vide Circular No.17/2019, dated 8th August,2019, wherein, it is stipulated that appeals shall not be filed/pursued by Department before High Court in cases where tax effect does not exceed Rs.1,00,00,000/- (Rupees One Crore). 3. In instant case, tax effect is said to be less than monetary limit imposed and, therefore, Appeal filed by Revenue is dismissed, as not pressed, keeping open substantial questions of law for determination in appropriate cases. No costs. (V.K.,J.) (C.S.N.,J.) 05.09.2019 Index : Yes/No Internet : Yes/No dixit To Income Tax Appellate Tribunal, Chennai 'C' Bench, Chennai. 4/4 Judgment dt.05.09.2019 in T.C.A.No.189/2010 [Commissioner of Income Tax v. Shri M.Rameshchand] DR.VINEET KOTHARI, J. and C.SARAVANAN, J. dixit TCA No.189 OF 2010 05.09.2019 Commissioner of Income-tax, Central II, Chennai v. M. Rameshchand
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