TCA.No.219 of 2014 In High Court of Judicature at Madras Dated : 15.6.2020 Coram : Honourable Mr.Justice T.S.SIVAGNANAM and Honourable Mrs.Justice PUSHPA SATHYANARAYANA Tax Case Appeal No.219 of 2014 Commissioner of Income Tax, Central Circle I, Coimbatore ...Appellant Vs M/s.Kumbakonam Silver Shop, Salem ...Respondent APPEAL under Section 260A of Income Tax Act, 1961 against order dated 29.8.2013 made in ITA.No.1361/Mds/2013 on file of Income Tax Appellate Tribunal, Chennai 'C' Bench for assessment year 2009-10. For Appellant: Mr.T.R.Senthilkumar, SSC assisted by Ms.K.G.Usharani, SC For Respondent: Mr.A.S.Sriraman 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 appellant Revenue and Mr.A.S.Sriraman, learned counsel appearing for 1/4 http://www.judis.nic.in TCA.No.219 of 2014 respondent. 2. This appeal, filed by Revenue under Section 260A of Income Tax Act, 1961 (for short, Act) is directed against order dated 29.8.2013 made in ITA.No.1361/Mds/2013 on file of Income Tax Appellate Tribunal, Chennai 'C' Bench (for brevity, Tribunal) for assessment year 2009-10. 3. appeal has been admitted on 09.7.2014 on following substantial questions of law : i. Whether, on facts and in circumstances of case, Income Tax Appellate Tribunal was right in directing Assessing Officer to treat cash seized to be first given credit as advance tax payment and then recompute interest under Section 234 for assessment year 2009-10 ? and 2. Whether, on facts and in circumstances of case, Income Tax Appellate Tribunal was right in holding that Explanation 2 to Section 132B of Act introduced with effect from 01.6.2013 is not clarificatory in nature and it takes effect only from 1st June 2013 and not retrospectively ? 2/4 http://www.judis.nic.in TCA.No.219 of 2014 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. 5. In light of said submissions, above tax case appeal is dismissed on account of low tax effect. substantial questions of law framed are 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. 15.6.2020 To Income Tax Appellate Tribunal, Chennai 'C' Bench. RS 3/4 http://www.judis.nic.in TCA.No.219 of 2014 T.S.SIVAGNANAM,J AND PUSHPA SATHYANARAYANA,J RS TCA.No.219 of 2014 15.6.2020 4/4 http://www.judis.nic.in Commissioner of Income-tax, Central Circle I, Coimbatore v. Kumbakonam Silver Shop