Commissioner of Income-tax, Coimbatore v. Tussor Machine Tools India P. Ltd
[Citation -2020-LL-0617-46]

Citation 2020-LL-0617-46
Appellant Name Commissioner of Income-tax, Coimbatore
Respondent Name Tussor Machine Tools India P. Ltd.
Court HIGH COURT OF MADRAS
Relevant Act Income-tax
Date of Order 17/06/2020
Assessment Year 2008-09
Judgment View Judgment
Keyword Tags international transaction • monetary limit • low tax effect • penalty
Bot Summary: Respondent APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 14.02.2013 made in ITA No.1270/Mds/2012 on the file of the Income Tax Appellate Tribunal 'B' Bench, Chennai for the assessment year 2008-09. This appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 is directed against the order dated 14.02.2013 made in ITA No.1270/Mds/2012 on the file of the Income Tax Appellate Tribunal 'B' Bench, Chennai for the assessment year 2008-09. Whether under the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in deleting the penalty levied under Section 271 AA by applying sub- clause and of Section 271 AA. 2. Whether under the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that though the assessee has failed to report the international transactions, which it is required to do so, penalty under Section 271 AA should not be levied. Whether under the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that the penalty under Section 271 AA is not leviable since no addition was made in the assessment in respect of international transactions. 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.


TCA.No.449 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.449 of 2014 Commissioner of Income-tax, Coimbatore. ...Appellant Vs M/s.Tussor Machine Tools India P Ltd., 1/247, Avanashi Road, Muthugoundenpudur, Neelambur PO, Coimbatore-641 014. ...Respondent APPEAL under Section 260A of Income Tax Act, 1961 against order dated 14.02.2013 made in ITA No.1270/Mds/2012 on file of Income Tax Appellate Tribunal 'B' 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 For Respondent: Mr.R.Sivaraman 1/5 http://www.judis.nic.in TCA.No.449 of 2014 Judgment was delivered by T.S.Sivagnanam,J We have 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.R.Sivaraman, learned counsel for respondent assessee. 2. This appeal, filed by Revenue under Section 260A of Income Tax Act, 1961 is directed against order dated 14.02.2013 made in ITA No.1270/Mds/2012 on file of Income Tax Appellate Tribunal 'B' Bench, Chennai for assessment year 2008-09. 3. appeal was admitted on 12.08.2014 on following substantial questions of law : 1. Whether under facts and circumstances of case, Income Tax Appellate Tribunal was right in deleting penalty levied under Section 271 AA by applying sub- clause (ii) and (iii) of Section 271 AA. 2. Whether under facts and circumstances of case, Income Tax Appellate Tribunal was right in holding that though assessee furnished incorrect information to assessing officer in respect of international transaction, penalty should not be levied under Section 271 AA and 2/5 http://www.judis.nic.in TCA.No.449 of 2014 only Section 271 G should be invoked in such cases. 3. Whether under facts and circumstances of case, Income Tax Appellate Tribunal was right in law in holding that though assessee has failed to report international transactions, which it is required to do so, penalty under Section 271 AA should not be levied. 4. Whether under facts and circumstances of case, Income Tax Appellate Tribunal was right in law in holding that penalty under Section 271 AA is not leviable since no addition was made in assessment in respect of international transactions. 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 3/5 http://www.judis.nic.in TCA.No.449 of 2014 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 'B' Bench, Chennai. abr 4/5 http://www.judis.nic.in TCA.No.449 of 2014 T.S.SIVAGNANAM,J AND PUSHPA SATHYANARAYANA, J. abr TCA.No.449 of 2014 17.06.2020 5/5 http://www.judis.nic.in Commissioner of Income-tax, Coimbatore v. Tussor Machine Tools India P. Ltd
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