TCA.No.919 of 2015 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.919 of 2015 Commissioner of Income Tax, Chennai ...Appellant Vs M/s.Ramaniyam Ganesh, Chennai-20 ...Respondent APPEAL under Section 260A of Income Tax Act, 1961 against order dated 26.8.2011 made in ITA.No.1778/Mds/2010 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.A.S.Sriraman 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.A.S. Sriraman, learned counsel appearing for respondent assessee. 1/4 http://www.judis.nic.in TCA.No.919 of 2015 2. This appeal, filed by Revenue under Section 260A of Income Tax Act, 1961 (for short, Act) is directed against order dated 26.8.2011 made in ITA.No.1778/Mds/2010 on file of Income Tax Appellate Tribunal, Chennai 'D' Bench (for brevity, Tribunal) for assessment year 2007-08. 3. appeal has been admitted on 07.12.2015 on following substantial questions of law : 1. Whether, on facts and in circumstances of case, Income Tax Appellate Tribunal was right in holding that assessee is entitled to deduction claimed under Section 80IB(10)? 2. Whether finding of Tribunal relating to eligible profit on account of transfer of partner's land to firm by applying provisions under Section 80IA(13) read with Section 80IB(10) is proper and relief is to be allowed ? And 3. Whether legal fiction in Section 45(3) can be extended to provisions of Section 80IB(10) and relief granted to assessee ?" 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 2/4 http://www.judis.nic.in TCA.No.919 of 2015 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. 16.6.2020 To Income Tax Appellate Tribunal, Chennai 'D' Bench. RS 3/4 http://www.judis.nic.in TCA.No.919 of 2015 T.S.SIVAGNANAM,J AND PUSHPA SATHYANARAYANA,J RS TCA.No.919 of 2015 16.6.2020 4/4 http://www.judis.nic.in Commissioner of Income-tax, Chennai v. Ramaniyam Ganesh