ITTA/2/2000 of COMMR. OF INCOME TAX VIZAG Vs A.HARINARAYANA on 30 December 2011

HONOURABLE THE CHIEF JUSTICE SHRI MADAN B.LOKURANDHONOURABLE SHRI JUSTICE SANJAY KUMAR

INCOME TAX TRIBUNAL APPEAL NO.2 OF 2000

Dt: 30-12-2011.

Between:

COMMISSIONER OF INCOME TAXVISAKHAPATNAM .. APPELLANT

AND

SRI A.HARINARAYANAC/O SBI,PALAKONDA,SRIKAKULAM DISTRICT .. RESPONDENT

HONOURABLE THE CHIEF JUSTICE SHRI MADAN B.LOKURANDHONOURABLE SHRI JUSTICE SANJAY KUMAR

INCOME TAX TRIBUNAL APPEAL NO.2 OF 2000

JUDGMENT : (PER HON’BLE THE CHIEF JUSTICE SHRI Madan B.Lokur)

The Revenue has filed this appeal under section 260A of theIncome Tax Act, 1961 (for short ‘the Act’) raising a substantial questionof law - whether the Income Tax Appellate Tribunal (for short ‘theTribunal’) was correct in holding that for claiming rebate under Section88 of the Act, the contributions, payments and investments made as perthat Section need not have come from out of the income chargeable toIncome Tax.

2. The substantial question of law has arisen out ofI.T.A.No.1801/Hyd/93, decided on 20.4.1999 by the Tribunal. Therelevant assessment years are 1991-92 and 1992-93.

3. The assessee has made investments of Rs.42,000/- and 28,000/- inNational Saving Certificates for two consecutive years. Learnedcounsel for the Revenue informs us that the tax effect in this case is lessthan Rs.10,000/- for each of the assessment years.

4. It is pointed out that in terms of Circular No.1903, dated 28.10.1993issued by the CBDT the tax limit for filing an appeal to the High Court isRs.50,000/-.

5. In view of the insignificant quantum of tax, we decline to answer thequestion raised.

6. Accordingly, this appeal stands disposed of.

Dt: 30-12-2011.

( MADAN B.LOKUR, CJ )

( SANJAY KUMAR, J )

TNB