Madras High Court
M/S.Tarapore & Co vs The Assistant/Joint ... on 17 February, 2021
Tax Case Nos.144 to 147 of 2010
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 17.02.2021
CORAM
THE HON'BLE MR.JUSTICE M. DURAISWAMY
AND
THE HON'BLE MRS.JUSTICE T.V. THAMILSELVI
Tax Case Appeal Nos.144 to 147 of 2010
M/s.Tarapore & Co.
Dhun Building,
827, Anna Salai,
Chennai – 600 002. ... Appellant in all 4 TCAs
Vs.
The Assistant/Joint Commissioner of Income Tax,
Company Circle VII/Business Range VII,
Chennai – 600 034. ... Respondent in all 4 TCAs
Tax Case Appeals filed under Section 260A of the Income Tax
Act, 1961 against the order of the Income Tax Appellate Tribunal,
Madras "C" Bench, dated 14.12.2009 passed in I.T.A.Nos.1256 to 1259/
Mds/2002.
For Appellant : Mr.M.Kaushik
(in all 4 TCAs) for M/s.S.Sridhar
For Respondent : Ms.Brinda and
(in all 4 TCAs) Mr.Karthick Ranganathan,
Senior Standing Counsel
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Tax Case Nos.144 to 147 of 2010
COMMON JUDGMENT
(Delivered by M. DURAISWAMY, J)
These appeal filed by the assessee under Section 260A of the
Income Tax Act, 1961 ('the Act' for brevity), are directed against the
order dated 14.12.2009 passed by the Income Tax Appellate Tribunal,
Madras "C" Bench, Chennai ('the Tribunal' for brevity) in
I.T.A.Nos.1256 to 1259/Mds/2002 for the Assessment Years 1993-94,
1995-96, 1994-95 and 1996-97. The above appeals were admitted on
08.02.2010 on the following Substantial Questions of Law for
consideration:
“1)Whether on the facts and in the circumstances of
the case, the Tribunal was right in law in holding that the
reassessment made under Section 143 (3) read with Section
147 is valid?
2)Whether on the facts and in the circumstances of
the case, the Tribunal was right in law in holding that there
was a conversion of fixed assets into stock in trade by the
assessee and the provisions of section 45(2) was attracted?”
2. We have heard Mr.M.Kaushik, learned counsel for the
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Tax Case Nos.144 to 147 of 2010
appellant/assessee and Ms.Brinda, 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 respondent/
assessee that the assessee has already filed the requisite Forms 1 & 2 on
30.12.2020 in all the above appeals under Section 4 of the Act.
5. In the light of the fact that the assessee has already availed the
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Tax Case Nos.144 to 147 of 2010
benefit under the Act, no useful purpose would be served in keeping this
appeals pending. At the same time, safeguarding 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. Accordingly, the Tax Case Appeals
stand disposed of on the ground that the assessee has already filed the
requisite Forms 1 & 2 in all the above appeals and the Department shall
process the applications 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 this appeals 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 appeals 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 Nos.144 to 147 of 2010
6. With this observation, the Tax Case Appeals stand disposed of
with the aforementioned liberty and consequently, the Substantial
Questions of Law are left open. No costs.
[M.D., J.] [T.V.T.S., J.]
Index : Yes/No 17.02.2021
Internet : Yes
va
To
1. Income Tax Appellate Tribunal, Madras “C” Bench
2.The Assistant/Joint Commissioner of Income Tax,
Company Circle VII/Business Range VII,
Chennai – 600 034.
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Tax Case Nos.144 to 147 of 2010
M. DURAISWAMY, J.
and
T.V. THAMILSELVI, J.
va
Tax Case Appeal Nos.144 to 147 of 2010
17.02.2021
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