TCA.No.815 of 2016 In High Court of Judicature at Madras Dated : 16.6.2020 Coram : Honourable Mr.Justice T.S.SIVAGNANAM and Honourable Mrs.Justice PUSHPA SATHYANARAYANA Tax Case Appeal No.815 of 2016 Commissioner of Income Tax, Chennai ...Appellant Vs M/s.Biomed Hitech Industries Ltd., Chennai-110 ...Respondent APPEAL under Section 260A of Income Tax Act, 1961 against order dated 25.5.2016 made in ITA.No.1155/Mds/2014 on file of Income Tax Appellate Tribunal, Chennai 'D' Bench for assessment year 2007-08. For Appellant: Mr.T.Ravikumar, SSC & Mrs.R.Hemalatha, SSC For Respondent: Mr.M.P.Senthilkumar Judgment was delivered by T.S.Sivagnanam,J We have heard Mr.T.Ravikumar and Mrs.R.Hemalatha learned Senior Standing Counsel appearing for appellant Revenue and Mr.M.P. Senthilkumar, learned counsel appearing for respondent - assessee. 1/4 http://www.judis.nic.in TCA.No.815 of 2016 2. This appeal, filed by Revenue under Section 260A of Income Tax Act, 1961 (for short, Act) is directed against order dated 25.5.2016 made in ITA.No.1155/Mds/2014 on file of Income Tax Appellate Tribunal, Chennai 'D' Bench (for brevity, Tribunal) for assessment year 2007-08. 3. appeal has been admitted on 29.11.2016 on following substantial questions of law : i. Whether, on facts and circumstances of case, Tribunal was right in holding that disallowance of claim of CENVAT credit is not mistake apparent from record which could be rectified under Section 154 ? and ii. Is not finding of Tribunal bad by holding that rectification under Section 154 is not proper especially when disallowing claim of CENVAT credit has no bearing on revenue recognized and expenditure claimed does not relate to relevant year and therefore, would be patently inadmissible expenditure ? 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 2/4 http://www.judis.nic.in TCA.No.815 of 2016 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. 16.6.2020 To Income Tax Appellate Tribunal, Chennai 'D' Bench. RS 3/4 http://www.judis.nic.in TCA.No.815 of 2016 T.S.SIVAGNANAM,J AND PUSHPA SATHYANARAYANA,J RS TCA.No.815 of 2016 16.6.2020 4/4 http://www.judis.nic.in Commissioner of Income-tax, Chennai v. Biomed Hitech Industries Ltd