Madras High Court
M/S.R.V.Steels Pvt. Ltd vs The Assistant Commissioner Of ... on 31 August, 2021
Tax Case Appeal No.442 of 2021
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 31.08.2021
CORAM :
THE HON'BLE MR. JUSTICE T.S. SIVAGNANAM
AND
THE HON'BLE MR. JUSTICE SATHI KUMAR SUKUMARA KURUP
Tax Case Appeal No.442 of 2021
M/s.R.V.Steels Pvt. Ltd.,
108, Mahatma Gandhi Raod,
Nungumbakkam,
Chennai – 600 034. ... Appellant
Vs.
The Assistant Commissioner of Income Tax,
Central Circle III(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 "A"
Bench, dated 13.08.2018 passed in I.T.A.No.2201/Chny/2017.
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Tax Case Appeal No.442 of 2021
For Appellant : Mr.R.Sivaraman
For Respondent : Mr.T.R.Senthil Kumar
Senior Standing Counsel
and M/s.K.G.Usha Rani
Standing Counsel
JUDGMENT
(Judgment was delivered by T.S. SIVAGNANAM, 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
13.08.2018 passed by the Income Tax Appellate Tribunal, Madras "A"
Bench, ('the Tribunal' for brevity) in I.T.A.No.2201/Chny/2017 for the
assessment year 2007-08. The appellant/assessee has raised the following
substantial questions of law in this appeal :
“1.Whether, on the facts and in the circumstances of this
case, the Income Tax Appellate Tribunal was justified in
upholding the addition under Section 41(1) of the Income Tax
Act, 1961?
2.Whether on the facts and circumstances of the case,
the Income Tax Appellate Tribunal was right in law in failing
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Tax Case Appeal No.442 of 2021
to identify that the additions amounting to Rs.25,32,827/- and
Rs.31,75,900/- forms part of the opening balance and fall
u/s.41(1) of the Income Tax Act, 1961?”
2. We have heard Mr.R.Sivaraman, learned counsel appearing for the
appellant/assessee and Mr.T.R.Senthil Kumar, learned Senior Standing
Counsel and M/s.K.G.Usha Rani, 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 has availed the benefit of Vivad Se Vishwas Scheme and
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Tax Case Appeal No.442 of 2021
the assessee had already been issued with Form-3 on 22.04.2021.
5. In the light of the fact that the assessee has already availed the
benefit under the Act, no useful purpose would be served in keeping the
appeal pending. At the same time, the interest of the assessee in the event the
order to be passed by the Department under the Act is not in favour of the
assessee, is to be safeguarded. Accordingly, the Tax Case Appeal stands
disposed of on the ground that the assessee has already been issued with
Form-3 and the Department shall process the application at the earliest in
accordance with the said Act and communicate the decision to the assessee
at the earliest. As observed, the assessee is given liberty to restore the appeal
in the event the ultimate decision to be taken on the declaration filed by the
assessee under Section 4 of the said Act is not in favour of the assessee. If
such a prayer is made, the Registry shall entertain the prayer without
insisting upon any application to be filed for condonation of delay in
restoration of the appeal and on such request made by the assessee by filing a
Miscellaneous Petition for Restoration, the Registry shall place such petition
before the Division Bench for orders.
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Tax Case Appeal No.442 of 2021
6. With this observation, this Tax Case Appeal stands disposed of with
the aforementioned liberty, and consequently, the Substantial Questions of
Law are left open. No costs.
(T.S.S., J.) (S.S.K., J.)
31.08.2021
mkn
Internet : Yes
Index : Yes / No
To
1. Income Tax Appellate Tribunal, Madras "A" Bench
2.The Assistant Commissioner of Income Tax,
Central Circle III(3),
Chennai – 600 034.
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Tax Case Appeal No.442 of 2021
T.S. SIVAGNANAM, J.
and
SATHI KUMAR SUKUMARA KURUP, J.
mkn
Tax Case Appeal No.442 of 2021
31.08.2021
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