TCA.No.990 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.990 of 2015 Commissioner of Income Tax, Chennai ...Appellant Vs M/s.Sical Infra Assets Ltd., Chennai-1 ...Respondent APPEAL under Section 260A of Income Tax Act, 1961 against order dated 20.3.2015 made in ITA.No.1185/Mds/2014 on file of Income Tax Appellate Tribunal, Chennai 'A' Bench for assessment year 2009-10. For Appellant: Mr.J.Narayanasamy, SSC For Respondent: Mr.A.S.Sriraman Judgment was delivered by T.S.Sivagnanam,J We have heard Mr.J.Narayanasamy, learned Senior Standing Counsel appearing for appellant Revenue and Mr.A.S.Sriraman, learned counsel appearing for respondent. 1/4 http://www.judis.nic.in TCA.No.990 of 2015 2. This appeal, filed by Revenue under Section 260A of Income Tax Act, 1961 (for short, Act) is directed against order dated 20.3.2015 made in ITA.No.1185/Mds/2014 on file of Income Tax Appellate Tribunal, Chennai 'A' Bench (for brevity, Tribunal) for assessment year 2009-10. 3. appeal has been admitted on 02.11.2015 on following substantial question of law : Whether, on facts and in circumstances of case, Tribunal was right in holding that second revised return submitted by assessee which was not sent to CPC, Bangalore is valid return and can be considered by Assessing Officer for purpose of giving set off of business loss incurred during year against income from other sources ? 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. 2/4 http://www.judis.nic.in TCA.No.990 of 2015 5. In light of said submissions, above tax case appeal is dismissed on account of low tax effect. substantial question of law framed is 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.990 of 2015 T.S.SIVAGNANAM,J AND PUSHPA SATHYANARAYANA,J RS TCA.No.990 of 2015 16.6.2020 4/4 http://www.judis.nic.in Commissioner of Income-tax, Chennai v. Sical Infra Assets Ltd