TCA.No.516 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.516 of 2015 Commissioner of Income Tax, Chennai ...Appellant Vs Shri Sharad Vasanji ...Respondent APPEAL under Section 260A of Income Tax Act, 1961 against order dated 20.2.2015 made in ITA.No.2779/Mds/2014 on file of Income Tax Appellate Tribunal, Chennai 'A' Bench for assessment year 2008-09. For Appellant: Mr.T.R.Senthilkumar, SSC assisted by Ms.K.G.Usharani, SC For Respondent: M/s.Pass Associates 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 learned counsel appearing for respondent 1/4 http://www.judis.nic.in TCA.No.516 of 2015 assessee. 2. This appeal, filed by Revenue under Section 260A of Income Tax Act, 1961 (for short, Act) is directed against order dated 20.2.2015 made in ITA.No.2779/Mds/2014 on file of Income Tax Appellate Tribunal, Chennai 'A' Bench (for brevity, Tribunal) for assessment year 2008-09. 3. appeal has been admitted on 20.1.2016 on following substantial questions of law : 1. Whether, on facts and circumstances of case, Tribunal was right in deleting addition of Rs.43173805/- made towards long term capital gains holding that lands were agricultural lands ? 2. Whether, on facts and circumstances of case, Tribunal was right in holding that lands were agricultural lands especially when first certificate issued by VAO clearly shows that no crops were grown on said lands? and 3. Is not finding of Tribunal perverse by relying on chitta adangal extracts issued by VAO subsequently without mentioning period, which was different from chitta adangal extracts obtained from VAO by Department at assessment stage wherein it had been 2/4 http://www.judis.nic.in TCA.No.516 of 2015 clearly stated that no crops were grown in said lands ?" 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. 16.6.2020 To Income Tax Appellate Tribunal, Chennai 'A' Bench. RS 3/4 http://www.judis.nic.in TCA.No.516 of 2015 T.S.SIVAGNANAM,J AND PUSHPA SATHYANARAYANA,J RS TCA.No.516 of 2015 16.6.2020 4/4 http://www.judis.nic.in Commissioner of Income-tax, Chennai v. Sharad Vasanji