T.V.Sundram Iyengar & Sons Ltd vs The Commissioner Of Income Tax
2021 Latest Caselaw 9053 Mad

                                              Tax Case Appeal No.1156 of 2015

           IN THE HIGH COURT OF JUDICATURE AT MADRAS

                        DATED : 01.04.2021

                              CORAM

            THE HON'BLE MR.JUSTICE M. DURAISWAMY
                             AND
           THE HON'BLE MRS.JUSTICE T.V. THAMILSELVI

                  Tax Case Appeal No.1156 of 2015


T.V.Sundram Iyengar & Sons Ltd.,
Madurai.                                           ...   Appellant

                                  Vs.


The Commissioner of Income Tax,
Madurai.                                            ... Respondent


      Tax Case Appeal filed under Section 260A of the Income Tax Act,

1961 against the order of the Income Tax Appellate Tribunal, Madras

"A" Bench, dated 03.07.2015 passed in I.T.A.No.2777/Mds/2014.



      For Appellant    : Mr.N.V.Balaji

      For Respondent   : Mr.M.Swaminathan
                         Senior Standing Counsel
                         and Mrs.V.Pushpa
                         Standing Counsel




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                                                   Tax Case Appeal No.1156 of 2015



                           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 03.07.2015 passed by the Income Tax Appellate Tribunal, Madras

"A" Bench, ('the Tribunal' for brevity) in I.T.A.No.2777/Mds/2014 for

the assessment year 2010-11. The above appeal has been admitted on

09.12.2015 on the following Substantial Questions of Law:

"1.Whether on the facts and in the circumstances of the case, the Tribunal, is justified in law in disallowing the foreign study expenses incurred by the assessee on six persons sponsored by it for undertaking higher studies abroad as personal expenses and not allowable under Section 37 of the Act?

2.Whether on the facts and in the circumstances of the case, the Tribunal, is justified in law in confirming the dis-allowance under Section 14A of the Act, especially when there is no finding by the Assessing Officer that there was any error in the accounts or that the assessee has actually incurred any expenses in relation to dividend income?”

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2. We have heard Mr.N.V.Balaji, learned counsel for the

appellant/assessee and Mr.M.Swaminathan, learned Senior Standing

Counsel and Mrs.V.Pushpa, learned 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

05.03.2021 and the learned counsel for the appellant seeks permission of

this Court to withdraw the appeal.

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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.]    [T.V.T.S., J.]
Index       : Yes/No                             01.04.2021
Internet    : Yes
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To

1. Income Tax Appellate Tribunal, Madras "A" Bench

2.The Commissioner of Income Tax, Madurai.

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M. DURAISWAMY, J.

and T.V. THAMILSELVI, J.

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Tax Case Appeal No.1156 of 2015

01.04.2021

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