Commissioner of Income-tax, Coimbatore v. J.V.Chowdhury
[Citation -2020-LL-0617-36]

Citation 2020-LL-0617-36
Appellant Name Commissioner of Income-tax, Coimbatore
Respondent Name J.V.Chowdhury
Court HIGH COURT OF MADRAS
Relevant Act Income-tax
Date of Order 17/06/2020
Assessment Year 2008-09
Judgment View Judgment
Keyword Tags nature of advance • deemed dividend • monetary limit • low tax effect
Bot Summary: Respondent APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 11.09.2013 made in I.T.A.No. 1975/Mds/2011 on the file of the Income Tax Appellate Tribunal 'C' Bench, Chennai, for the assessment year 2008-09. 441 of 2014 Judgment was delivered by T.S.Sivagnanam,J Heard Mr.T.R.Senthil Kumar, learned Senior Standing Counsel assisted by Ms.K.G.Usha Rani, learned Junior Standing Counsel appearing for the appellant Revenue and Mr.G.Baskar, learned counsel for the respondent assessee. This appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 is directed against the order order dated 11.09.2013 made in I.T.A.No. 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. 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.


TCA.No.441 of 2014 In High Court of Judicature at Madras Dated : 17.06.2020 Coram : Honourable Mr.Justice T.S.SIVAGNANAM and Honourable Mrs.Justice PUSHPA SATHYANARAYANA Tax Case Appeal No.441 of 2014 Commissioner of Income Tax, Coimbatore. ...Appellant Vs Shri J.V.Chowdhury, No.1, Palaniswamy Naidu Street, Avanashi Road, Coimbatore-641 018. ...Respondent APPEAL under Section 260A of Income Tax Act, 1961 against order dated 11.09.2013 made in I.T.A.No.1975/Mds/2011 on file of Income Tax Appellate Tribunal 'C' Bench, Chennai, for assessment year 2008-09. For Appellant: Mr.T.R.Senthil Kumar, Senior Standing Counsel : assisted by Ms.K.G.Usha Rani, Junior Standing Counsel Respondent: Mr.G.Baskar 1/5 http://www.judis.nic.in TCA.No.441 of 2014 Judgment was delivered by T.S.Sivagnanam,J Heard Mr.T.R.Senthil Kumar, learned Senior Standing Counsel assisted by Ms.K.G.Usha Rani, learned Junior Standing Counsel appearing for appellant Revenue and Mr.G.Baskar, learned counsel for respondent assessee. 2. This appeal, filed by Revenue under Section 260A of Income Tax Act, 1961 is directed against order order dated 11.09.2013 made in I.T.A.No.1975/Mds/2011 on file of Income Tax Appellate Tribunal 'C' Bench, Chennai, for assessment year 2008-09. 3. appeal was admitted on 26.08.2014 on following substantial questions of law : 1) Whether on facts and in circumstances of case Income Tax Appellate Tribunal was right in holding that sums received by assessee to extent of sale price of shares transferred by it in subsequent year cannot be taxed as deemed dividend in year of receipt of advance? 2) Whether on facts and in circumstances of case Income Tax Appellate Tribunal was right in holding that 2/5 http://www.judis.nic.in TCA.No.441 of 2014 sums received by assessee is not loan and, therefore, will not fall within ambit of Section 2(22) (e) of Act, though section covers any payment in nature of advance as well? 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. (T.S.S., J.) (P.S.N., J.) 17.06.2020 Internet: Yes To Income Tax Appellate Tribunal 'C' Bench, Chennai. 3/5 http://www.judis.nic.in TCA.No.441 of 2014 abr 4/5 http://www.judis.nic.in TCA.No.441 of 2014 T.S.SIVAGNANAM,J AND PUSHPA SATHYANARAYANA, J. abr TCA.No.441 of 2014 17.06.2020 5/5 http://www.judis.nic.in Commissioner of Income-tax, Coimbatore v. J.V.Chowdhury
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