Madras High Court
M/S.I.P.Rings Ltd vs The Deputy Commissioner Of Income ... on 26 April, 2021
Tax Case Appeal No.336 of 2012
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 26.04.2021
CORAM
THE HON'BLE MR.JUSTICE M. DURAISWAMY
AND
THE HON'BLE MRS.JUSTICE R. HEMALATHA
Tax Case Appeal No.336 of 2012
M/s.I.P.Rings Ltd.,
Arjay Apex Centre,
No.24, College Road,
Chennai – 600 006. ... Appellant
Vs.
The Deputy Commissioner of Income Tax,
Company Circle – II(3),
Chennai – 600 034. ... Respondent
Tax Case Appeal filed under Section 260A of the Income Tax Act,
1961 against the order of the Income Tax Appellate Tribunal, Madras
"C" Bench, dated 09.09.2011 passed in I.T.A.No.1546/Mds/2010.
For Appellant : Mr.R.Venkata Narayanan
for M/s.Subbaraya Aiyar Padmanabhan
For Respondent : Mr.Karthik Ranganathan
Senior Standing Counsel
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Tax Case Appeal No.336 of 2012
JUDGMENT
(Delivered by M.DURAISWAMY, J.)
This appeal filed by the assessee under Section 260A of the
Income Tax Act, 1961 ('the Act' for brevity), is directed against the order
dated 09.09.2011 passed by the Income Tax Appellate Tribunal, Madras
"C" Bench, ('the Tribunal' for brevity) in I.T.A.No.1546/Mds/2010 for
the assessment year 2001-02. The above appeal has been admitted on
19.10.2012 on the following Substantial Questions of Law:
"1.Whether on the facts and in the circumstances of
the case, the Tribunal was right in holding that the
reopening of assessment is justified and proper?
2.Whether on the facts and in the circumstances of
the case, the reopening of assessment beyond four years
from the end of assessment year is not barred by limitation
under proviso to Section 147 of the Act?
3.Whether on the facts and in the circumstances of
the case, the reopening of assessment on same set of facts
would not amount to change of opinion?”
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Tax Case Appeal No.336 of 2012
2. We have heard Mr.R.Venkata Narayanan for M/s.Subbaraya
Aiyar Padmanabhan, learned counsel for the appellant/assessee and
Mr.Karthik Ranganathan, learned Senior Standing Counsel for the
respondent/Revenue.
3. It may not be necessary for this Court to decide the Substantial
Questions of Law framed for consideration on account of certain
subsequent developments. The Government of India enacted the Direct
Tax Vivad Se Vishwas Act, 2020 (Act 3 of 2020) to provide for
resolution of disputed tax and for matters connected therewith or
incidental thereto. The Act of the Parliament received the assent of the
President on 17th March 2020 and published in the Gazette of India on
17th March 2020.
4. We are informed by the learned counsel for the appellant/
assessee that the assessee had already been issued with Form-3 on
20.04.2021 and the learned counsel for the appellant seeks permission of
this Court to withdraw the appeal.
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Tax Case Appeal No.336 of 2012
5. In view of the submission made by the learned counsel for the
appellant, the Tax Case Appeal stands dismissed as withdrawn. No costs.
[M.D., J.] [R.H., J.]
26.04.2021
(2/2)
Index : Yes/No
Internet : Yes
mkn
To
1. Income Tax Appellate Tribunal, Madras "C" Bench
2.The Deputy Commissioner of Income Tax,
Company Circle – II(3),
Chennai – 600 034.
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Tax Case Appeal No.336 of 2012
M. DURAISWAMY, J.
and
R. HEMALATHA, J.
mkn
Tax Case Appeal No.336 of 2012
26.04.2021
(2/2)
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