Commissioner of Income-tax, Central Circle, Coimbatore v. G.Mohan
|Commissioner of Income-tax, Central Circle, Coimbatore
|HIGH COURT OF MADRAS
|Date of Order
|monetary limit • low tax effect
|PAN: AJCPM3554G ...Respondent APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 19.11.2013 made in I.T.A.No. 515/Mds/2013 on the file of the Income Tax Appellate Tribunal 'B' Bench, Chennai for the assessment year 2002-03. Whether on the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in allowing depreciation when the income determined on the basis of net accretion in wealth between the first year and the last year 2. Whether on the facts and circumstances of the case, the Tribunal was right in allowing depreciation when the assessee's income is taxed on a rough and ready method on approximate basis, is there any justification for granting statutory allowance 4. 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.