Commissioner of Income-tax, Central Circle II (2), Chennai v. Annai Builders Real Estate Pvt. Ltd
[Citation -2020-LL-0617-47]

Citation 2020-LL-0617-47
Appellant Name Commissioner of Income-tax, Central Circle II (2), Chennai
Respondent Name Annai Builders Real Estate Pvt. Ltd.
Court HIGH COURT OF MADRAS
Relevant Act Income-tax
Date of Order 17/06/2020
Assessment Year 2007-08
Judgment View Judgment
Keyword Tags monetary limit • low tax effect • penalty
Bot Summary: PAN: AADCA6643H ...Respondent APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 30.08.2013 made in I.T.A.No. 271/Mds/2013 on the file of the Income Tax Appellate Tribunal 'B' Bench, Chennai for the assessment year 2007-08. This appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 is directed against the order dated 30.08.2013 made in I.T.A.No. Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in deleting the penalty levied u/s 271(1)(c) in respect of the additional income offered for assessment in response to notice u/s 153A ignoring the explanation 5A to Section 271(1)(c) 2. 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.462 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.462 of 2014 Commissioner of Income Tax, Central Circle II (2), Chennai-34. ...Appellant Vs M/s.Annai Builders Real Estate Pvt. Ltd., No.76, Medavakkam Main Road, Madipakkam, Chennai-600 091. PAN: AADCA6643H ...Respondent APPEAL under Section 260A of Income Tax Act, 1961 against order dated 30.08.2013 made in I.T.A.No.271/Mds/2013 on file of Income Tax Appellate Tribunal 'B' Bench, Chennai for assessment year 2007-08. For Appellant: Mr.T.R.Senthil Kumar, Senior Standing Counsel : assisted by Ms.K.G.Usha Rani, Junior Standing Counsel For Respondent: Mr.A.S.Sriraman 1/4 http://www.judis.nic.in TCA.No.462 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.A.S.Sriraman, learned counsel for respondent assessee. 2. This appeal, filed by Revenue under Section 260A of Income Tax Act, 1961 is directed against order dated 30.08.2013 made in I.T.A.No.271/Mds/2013 on file of Income Tax Appellate Tribunal 'B' Bench, Chennai for assessment year 2007-08. 3. appeal was admitted on 16.09.2014 on following substantial questions of law : 1. Whether on facts and in circumstances of case, Income Tax Appellate Tribunal was right in deleting penalty levied u/s 271(1)(c) in respect of additional income offered for assessment in response to notice u/s 153A ignoring explanation 5A to Section 271(1)(c)? 2. Whether on facts and in circumstances of case, Income Tax Appellate Tribunal was right in deleting penalty u/s 271(1)(c) on ground that assessee has surrendered income voluntarily in good faith? 2/4 http://www.judis.nic.in TCA.No.462 of 2014 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. (T.S.S., J.) (P.S.N., J.) 17.06.2020 Internet: Yes To Income Tax Appellate Tribunal 'B' Bench, Chennai. abr 3/4 http://www.judis.nic.in TCA.No.462 of 2014 T.S.SIVAGNANAM,J AND PUSHPA SATHYANARAYANA, J. abr TCA.No.462 of 2014 17.06.2020 4/4 http://www.judis.nic.in Commissioner of Income-tax, Central Circle II (2), Chennai v. Annai Builders Real Estate Pvt. Ltd
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