Madras High Court
M/S.Oriental Hotels Limited vs The Assistant Commissioner Of ... on 29 April, 2021
Tax Case Appeal No.174 of 2010
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
Tax Case Appeal No.174 of 2010
M/s.Oriental Hotels Limited,
37, M.G. Road, Nungambakkam,
Chennai – 600 034. ... Appellant
Vs.
The Assistant Commissioner of Income Tax,
Company Circle – V,
Chennai. ... Respondent
Tax Case Appeal filed under Section 260A of the Income Tax Act,
1961 against the order of the Income Tax Appellate Tribunal, Madras
"B" Bench, dated 04.09.2009 passed in I.T.A.No.1923/Mds/2008.
For Appellant : Mr.R.Venkata Narayanan
for M/s.Subbaraya Aiyar Padmanabhan
For Respondent : Mr.T.Ravikumar
Senior Standing Counsel
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Tax Case Appeal No.174 of 2010
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 04.09.2009 passed by the Income Tax Appellate Tribunal, Madras
"B" Bench, ('the Tribunal' for brevity) in I.T.A.No.1923/Mds/2008 for
the assessment year 2004-05. The above appeal has been admitted on
15.03.2010 on the following Substantial Questions of Law:
"1.Whether the Appellate Tribunal was right in law
in holding that the appellant is not entitled to deduction
under Section 35D as hotel industry cannot be regarded
as an industrial undertaking without appreciating that
hotel falls within the definition of "industry"?
2.Whether the Appellate Tribunal was right in law
in denying deduction under Section 35D when the same
has been allowed in the initial assessment year 1995-96?
3.Whether on the facts and in the circumstances of
the case, the Tribunal was right in law in holding that
interest income earned on deposits, loans advanced to
subsidiary companies and inter corporate dividends which
were in the course of and for the purpose of business
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Tax Case Appeal No.174 of 2010
should be assessed as income from 'other sources' and not
under the head profits and gains of the business?
4.Whether on the facts and in the circumstances of
the case, the Tribunal was right in law in holding that the
amount received from British Airlines towards settlement
of the bills of stay of their crew should not be included in
the foreign exchange receipts of the appellant for the
purpose of computation of deduction under Section
80HHD?
5.Whether on the facts and in the circumstances of
the case, the Tribunal was right in holding that the
appellant is not entitled to set off of brought forward Long
Term Capital Loss on sale of shares which were acquired
in the course of amalgamation?”
2. We have heard Mr.R.Venkata Narayanan for M/s.Subbaraya
Aiyar Padmanabhan, learned counsel for the appellant/assessee and
Mr.T.Ravikumar, learned Senior Standing Counsel for the
respondent/Revenue.
3. It may not be necessary for this Court to decide the Substantial
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Tax Case Appeal No.174 of 2010
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
15.04.2021 and the learned counsel for the appellant seeks permission of
this Court to withdraw the appeal.
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.]
29.04.2021
mkn
Index : Yes/No
Internet : Yes
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Tax Case Appeal No.174 of 2010
To
1. Income Tax Appellate Tribunal, Madras "B" Bench
2.The Assistant Commissioner of Income Tax,
Company Circle – V,
Chennai.
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Tax Case Appeal No.174 of 2010
M. DURAISWAMY, J.
and
R. HEMALATHA, J.
mkn
Tax Case Appeal No.174 of 2010
29.04.2021
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