M/S. Rajkumar Exports Pvt. Ltd vs The Income Tax Officer (Osd)
2021 Latest Caselaw 24063 Mad

                                                                          Tax Case Appeal No.1413 of 2009

                                  IN THE HIGH COURT OF JUDICATURE AT MADRAS

                                                    DATED : 07.12.2021

                                                        CORAM :

                                   THE HON'BLE MR. JUSTICE R. MAHADEVAN
                                                          AND
                              THE HON'BLE MR. JUSTICE MOHAMMED SHAFFIQ

                                           Tax Case Appeal No.1413 of 2009

                  M/s. Rajkumar Exports Pvt. Ltd.,
                  (now merged with Raj Kumar Impex Pvt Ltd),
                  B 603, Keshav Durga Apartments,
                  No.1, East Avenue,
                  Keshav Perumal Puram, R.A.Puram,
                  Chennai 600 028.                                                 ...   Appellant

                                                           Vs.

                  The Income Tax Officer (OSD),
                  Company Circle V(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 “D”
                  Bench, Chennai dated 31.03.2009 passed in I.T.A.No.767/Mds/2008.
                                    For Appellant      : Mr.Padmanabhan

                                    For Respondent     : Mr.T.Ravikumar
                                                         Senior Standing Counsel


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                                                                          Tax Case Appeal No.1413 of 2009

                                                    JUDGMENT

(Judgment was delivered by R. MAHADEVAN, J.)

This Tax Case Appeal has been filed by the appellant / Assessee

challenging the order dated 31.03.2009 passed by the Income Tax Appellate

Tribunal, Bench 'D', Chennai ('the Tribunal', for brevity) in

I.T.A.No.767/Mds/2008 for the Assessment Year 2003-2004.

2.The above appeal was admitted on 09.02.2010 on the following

substantial questions of law :

“1.Whether on the facts and in the circumstances of the case, the Tribunal was right in law in upholding the order of the Commissioner of Income Tax under Section 263 of the Act?

2. Whether on the facts and in the circumstances of the case the Tribunal was right in law in upholding that the interest on Margin Money deposits for opening Letter of Credit and DEPB proceeds are not eligible for deduction u/s.801A of the Act?”

3.When the matter was taken up for consideration, the learned counsel

appearing for the appellant / assessee submitted that during the pendency of

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this tax case appeal, the assessee has availed the benefit conferred under the

Direct Tax Vivad Se Vishwas Act, 2020 and filed necessary declarations,

which were accepted and Form 5 / order for full and final settlement of tax

arrears, was also issued by the Income tax department, on 06.05.2021. The

learned counsel has also filed Form 5 dated 06.05.2021 to that effect.

4.The aforesaid submission made by the learned counsel for the

appellant/assessee has also been fairly conceded by the learned senior

standing counsel appearing for the respondent/ Revenue.

5.In view of the subsequent development, this court is of the opinion

that nothing survives for adjudication in this appeal. Recording the

submission so made by the learned counsel on either side, the Tax Case

Appeal stands disposed of. No costs.

                                                                     [R.M.D,J.]     [M.S.Q, J.]
                                                                            07.12.2021

                  msr
                  Internet : Yes
                  Index : Yes / No

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https://www.mhc.tn.gov.in/judis Tax Case Appeal No.1413 of 2009

R. MAHADEVAN, J.

and MOHAMMED SHAFFIQ, J.

msr

To

1.The Income Tax Appellate Tribunal, Madras “D” Bench

2.The Income Tax Officer (OSD), Company Circle V(3), Chennai 600 034

Tax Case Appeal No.1413 of 2009

07.12.2021 (2/2)

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