Madras High Court
Commissioner Of Income Tax vs Icici Bank Ltd on 13 December, 2021
Tax Case Appeal No.877 of 2009
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 13.12.2021
CORAM :
THE HON'BLE MR. JUSTICE R. MAHADEVAN
AND
THE HON'BLE MR. JUSTICE MOHAMMED SHAFFIQ
Tax Case Appeal No.877 of 2009
Commissioner of Income Tax
Chennai. ... Appellant
Vs.
ICICI Bank Ltd.
(Erstwhile Bank of Madura Ltd.)
192, Anna Salai
Chennai – 600 002. ... 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, Chennai dated 18.03.2009 passed in I.T.A.No.596/Mds/2005.
For Appellant : Mr. T.Ravikumar
Senior Standing Counsel
For Respondent : Mr.R.Vijayakumar
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Tax Case Appeal No.877 of 2009
JUDGMENT
(Judgment was delivered by R. MAHADEVAN, J.)
This Tax Case Appeal has been filed by the appellant / Revenue
challenging the order dated 18.03.2009 passed by the Income Tax Appellate
Tribunal, Bench 'A', Chennai ('the Tribunal', for brevity) in I.T.A.
No. 596/Mds/2005 for the Assessment Year 2001-02.
2.The above appeal was admitted on 08.09.2009 on the following
substantial questions of law :-
“1.Whether on the facts and circumstances of the case,
the Tribunal was right in holding that the entire claim of bad
debt of the assessee ought to be ought to be allowed?
2.Whether in the facts and circumstances of the case,
the Tribunal was right in granting deduction in respect of bad
debts both under section 36(10(vii) and (viia)
simultaneously?”
3.When the matter was taken up for consideration, the learned counsel
appearing for the respondent / assessee submitted that during the pendency
of this tax case appeal, the assessee has filed the requisite Forms 1 and 2
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Tax Case Appeal No.877 of 2009
under Section 4 of the Direct Tax Vivad Se Vishwas Act, 2020, which were
accepted and Form 3 was issued to the assessee on 08.09.2009 by the
Income Tax Department. The learned counsel has also filed a copy of Form-3
dated 19.01.2021 to that effect.
4.The aforesaid submission made by the learned counsel for the
respondent /assessee has also been fairly conceded by the learned senior
standing counsel appearing for the appellant /Revenue.
5.This court heard the submissions made by the learned counsel on
either side, as per which, the assessee has already availed the benefit
conferred under the beneficial legislation viz., the Direct Tax Vivad Se
Vishwas Act, 2020, enacted for resolution of disputed tax and for matters
connected therewith or incidental thereto, which came into force with effect
from 17.03.2020; and the declarations submitted by the assessee were also
accepted and Form 3 was also issued to them by the Income Tax Department.
In view of such development, it is unnecessary for this court to decide the
substantial question of law arisen in this tax case appeal.
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Tax Case Appeal No.877 of 2009
6.Therefore, recording the submissions so made by the learned counsel
on either side, this appeal stands disposed of, directing the department to
process the application in accordance with the Act and communicate the
decision to the assessee at the earliest. No costs.
[R.M.D., J.] [M.S.Q., J.]
13.12.2021
Internet : Yes
Index : Yes / No
Maya
To
1.The Income Tax Appellate Tribunal
Madras “A” Bench, Chennai.
2.The Commissioner of Income Tax
Chennai.
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Tax Case Appeal No.877 of 2009
R. MAHADEVAN, J.
and
MOHAMMED SHAFFIQ, J.
Maya
T.C.A. No.877 of 2009
Dated : 13.12.2021
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