The Commissioner of Income-tax, Central Circle I, Coimbatore v. Kumbakonam Silver Shop
|The Commissioner of Income-tax, Central Circle I, Coimbatore
|Kumbakonam Silver Shop
|HIGH COURT OF MADRAS
|Date of Order
|clarificatory in nature • monetary limit • low tax effect • tax payment • advance tax • cash seized
|1361/Mds/2013 on the file of the Income Tax Appellate Tribunal, Chennai 'C' Bench for the assessment year 2009-10. This appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 is directed against the order dated 29.8.2013 made in ITA.No. The appeal has been admitted on 09.7.2014 on the following substantial questions of law : i. Whether, on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in directing the Assessing Officer to treat the cash seized to be first given credit as advance tax payment and then recompute the interest under Section 234 for the assessment year 2009-10 and 2. 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.