PRINCIPAL COMMISSIONER OF IN vs. LISTER TECHNOLOGIES PVT. LTD

T.C.A.Nos.290 to 293 of 2021 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 29.04.2021 CORAM THE HON'BLE MR. JUSTICE M.DURAISWAMY AND THE HON'BLE MRS.JUSTICE R. HEMALATHA T.C.A.Nos.290 to 293 of 2021 Principal Commissioner of Income Tax 2, No.121, Mahatma Gandhi Road, Chennai – 600 034. ... Appellant in all appeals Vs. Lister Technologies Pvt. Ltd., No.232, V.M. Street, Mylapore, Chennai – 600 004. ... Respondent in all appeals Tax Case Appeals in T.C.A.Nos.290 to 293 of 2021 preferred under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal, Madras, “B” Bench, dated 23.03.2017

I.T.A.Nos.3311/Mds/2016,

3313/Mds/2016, 3315/Mds/2016 and 3312/Mds/2016, respectively for the Assessment Years 2005-06, 2007-08, 2010-11 and 2006-07 respectively. Page 1/6 https://www.mhc.tn.gov.in/judis/ T.C.A.Nos.290 to 293 of 2021 For Appellant : Mr.Karthik Ranganathan Senior Standing Counsel in all appeals C O M M O N J U D G M E N T (Judgment was delivered by M.DURAISWAMY, J.) We have heard Mr.Karthik Ranganathan, learned Senior Standing Counsel for the appellant/Revenue. 2.The above appeals, filed by the Revenue under Section 260A of the Income Tax Act, 1961 (for short, the Act), are directed against the order dated 23.03.2017 made in I.T.A.Nos.3311/Mds/2016, 3313/Mds/2016, 3315/Mds/2016 and 3312/Mds/2016, on the file of the Income Tax Appellate Tribunal, Madras, “B” Bench (for brevity, the Tribunal) for the Assessment Years 2005-06, 2007-08, 2010-11 and 2006-07 respectively. 3.The appellant/Revenue has raised the following substantial questions of law in the above appeals : Page 2/6 https://www.mhc.tn.gov.in/judis/ T.C.A.Nos.290 to 293 of 2021 “1.Whether on the facts and circumstances of the case and in law, the Tribunal was right and justified in holding that deduction u/s.10A should be first excluded from the profits of the year before set off of brought forward unabsorbed depreciation pertaining to the said unit? 2.Whether on the facts and circumstances of the case and in law, the Tribunal erred in not following the decision in CIT vs. Himatasingike Seide Ltd (Kar) 286 ITR 255 which was upheld in 100 DTR 37 (SC)? 3.Whether on the facts and circumstances of the case and in law, the Tribunal was correct and justified in ignoring the binding decision of co-ordinate bench in S R A Systems Ltd vs. ACIT (ITA No.147/Mds/2012 - order dated 21.02.2014 and CIT vs. Chettinad Quartz Products Ltd (ITA No.51/Mds/2014) on the same legal issue as against the principle of biding precedent laid down by the jurisdictional High Court in CIT vs. L G Ramamurthy and others (110 ITR 453) and Apex Court in CIT vs. Sterling Foods (237 ITR 579)?” Page 3/6 https://www.mhc.tn.gov.in/judis/ T.C.A.Nos.290 to 293 of 2021 4.The learned Senior Standing Counsel for the appellant submits that the above appeals are not pursued by the Revenue on account of the Low Tax Effect in terms of Circular No.17/2019 dated 08.08.2019 issued by the Central Board of Direct Taxes. By the said Circular, the monetary limit for filing or pursuing an appeal before the High Court has been increased to Rs.1 crore. It is further submitted that the tax effect in these cases is less than the threshold limit. 5.In the light of the said submissions, the above Tax Case Appeals are dismissed as withdrawn on account of the Low Tax Effect. The substantial questions of law framed are left open. In the event the tax effect in these cases 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 above appeals to be heard and decided on merits. No costs. [M.D., J.] [R.H., J.] 29.04.2021 mkn (2/2) Page 4/6 https://www.mhc.tn.gov.in/judis/ T.C.A.Nos.290 to 293 of 2021

Index : Yes/No Internet : Yes

To 1.The Income Tax Appellate Tribunal, Madras, “B” Bench. 2.The Principal Commissioner of Income Tax 2, No.121, Mahatma Gandhi Road, Chennai – 600 034. Page 5/6 https://www.mhc.tn.gov.in/judis/ T.C.A.Nos.290 to 293 of 2021 M.DURAISWAMY, J. and R. HEMALATHA, J. mkn T.C.A.Nos.290 to 293 of 2021 29.04.2021 (2/2) Page 6/6 https://www.mhc.tn.gov.in/judis/