PRINCIPAL COMMISSIONER OF IN vs. COUNCIL FOR LEATHER EXPORTS,

T.C.A.No.366 of 2021 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 15.07.2021 CORAM THE HON'BLE MR. JUSTICE M.DURAISWAMY AND THE HON'BLE MRS.JUSTICE R. HEMALATHA T.C.A.No.366 of 2021 Principal Commissioner of Income Tax (Exemptions), Corporate Circle – 2(1), Chennai – 600 034. ... Appellant Vs. M/s.Council For Leather Exports, CMDA Tower-II, 3rd Floor, Gandhi Irwin Bridge Road, Egmore, Chennai – 600 008. ... Respondent Appeal preferred under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal, Madras, “B” Bench, dated 23.04.2018 in I.TA.No.2172/Chny/2017, Assessment Year 2012-13. Page 1/5 https://www.mhc.tn.gov.in/judis/ T.C.A.No.366 of 2021 For Appellant : Mr.J.Narayanasamy Senior Standing Counsel For Respondent : Mr.Vikram Vijayaraghavan JUDGMENT (Judgment was delivered by M.DURAISWAMY, J.) We have heard Mr.J.Narayanasamy, learned Senior Standing Counsel for the appellant/Revenue and Mr.Vikram Vijayaraghavan, learned counsel for the respondent/assessee. 2.The appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 (for short, the Act) is directed against the order dated 23.04.2018 made in I.TA.No.2172/Chny/2017 on the file of the Income Tax Appellate Tribunal, Chennai, “B” Bench (for brevity, the Tribunal) for the Assessment Year 2012-13. 3.The appellant/Revenue has raised the following substantial question of law in the above appeal : Page 2/5 https://www.mhc.tn.gov.in/judis/ T.C.A.No.366 of 2021 “Whether in the facts and in the circumstances of the case and in law, the Hon'ble ITAT is justified in law in holding that the income of the assessee is exempt from tax under section 10(23C)(iv) of the Income Tax Act for the AY 2012-13?” 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 08.08.2019 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 this case is less than the threshold limit. 5.In the light of the said submissions, the above Tax Case Appeal is dismissed as withdrawn on account of the Low Tax Effect. The substantial question of law framed is left open. In the event the tax effect in this case is above the threshold limit fixed in the said Circular, liberty is granted to the Revenue to make a mention to this Court to Page 3/5 https://www.mhc.tn.gov.in/judis/ T.C.A.No.366 of 2021 restore the appeal to be heard and decided on merits. No costs. [M.D., J.] [R.H., J.] 15.07.2021 (2/2)

Index : Yes/No Internet : Yes

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To The Income Tax Appellate Tribunal, Chennai, “B” Bench Page 4/5 https://www.mhc.tn.gov.in/judis/ T.C.A.No.366 of 2021 M.DURAISWAMY, J. and R. HEMALATHA, J. mkn T.C.A.No.366 of 2021 15.07.2021 (2/2) Page 5/5 https://www.mhc.tn.gov.in/judis/