THE HON'BLE SRI JUSTICE P.SAM KOSHY
AND
THE HON'BLE SRI JUSTICE LAXMI NARAYANA ALISHETTY
I.T.T.A. No. 351 of 2019
JUDGMENT:(per Hon'ble Sri Justice P.SAM KOSHY)
Heard Sri J.V. Prasad, learned Senior Standing Counsel
appearing for the appellant and Sri Challa Gunaranjan, learned
counsel appearing for the respondent.
2. The challenge in the present appeal is primarily questioning the order of the ITAT in affirming the order of CIT (appeals) in accepting the subsisting liability on the Assessee, so far as return of Rs.7.00 crores is concerned, even when the Assessee did not in fact return the amount. The said amount of Rs.7.00 crores was a payment to be made in terms of the arbitration award, which has been affirmed even in appeal by the High Court and which now has also been settled before the Hon'ble Supreme Court in S.L.A.Nos.28604 and 28605 of 2018, decided on 10.04.2022.
3. In view of the fact that the Assessee has been ordered to pay Rs.7.00 crores to the developer and the same has already been paid by the Assessee and the proof of payment is also brought on record, hence, the finding of the ITAT does not 2 warrant any interference. Therefore, nothing remains in the matter for adjudication. Accordingly, the appeal is closed. There shall be no order as to costs.
Consequently, miscellaneous petitions pending, if any, shall stand closed.
___________________ P.SAM KOSHY, J ___________________________________________ LAXMI NARAYANA ALISHETTY, J 1st November, 2023 vsl/bms 3 132 THE HON'BLE SRI JUSTICE P.SAM KOSHY AND THE HON'BLE SRI JUSTICE LAXMI NARAYANA ALISHETTY I.T.T.A. No. 351 of 2019 (per the Hon'ble Sri Justice P.SAM KOSHY) 1st November, 2023 vsl/bms