Madras High Court
M/S.Goldmine Investments vs The Deputy Commissioner Of Income ... on 18 February, 2021
Tax Case Appeal No.235 of 2011
IN THE HIGH COURT OF JUDICATURE AT Chennai
DATED: 18.02.2021
CORAM
THE HON'BLE MR.JUSTICE M. DURAISWAMY
AND
THE HON'BLE MRS.JUSTICE T.V. THAMILSELVI
Tax Case Appeal No.235 of 2011
M/s.Goldmine Investments,
No.2, Doraisamy Road,
T.Nagar, Chennai - 600 017. ... Appellant
v.
The Deputy Commissioner of Income Tax,
Business Circle-1 ,
121, Nungambakkam High Road,
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, Chennai 'A'
Bench, Chennai, dated 19.01.2011 passed in I.T.A.No.2040/Mds/2007 for
the Assessment Year 1996-97. .
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Tax Case Appeal No.235 of 2011
For Appellant : Ms.Sriniranjani Srinivasan
For Respondent : Mr.T. Ravikumar
Senior Standing Counsel
JUDGMENT
(Judgment was 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
19.01.2011 passed by the Income Tax Appellate Tribunal, Chennai 'A'
Bench, Chennai ('the Tribunal' for brevity) in I.T.A.No.2040/Mds/2007
for the Assessment Year 1996-97.
2. The appeal was admitted on 02.12.2008 on the following
Substantial Question of Law:
" Whether on the facts and the circumstances of the
case, the Income Tax Appellate Tribunal is right in law in
conforming the penalty of Rs.62,32,794/- under section
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Tax Case Appeal No.235 of 2011
271(1)(c) of the Income Tax Act, relating to the addition of
Rs.1,55,81,985/- ?"
3. We have heard Ms.Sriniranjani Srinivasan, learned counsel for the
appellant and Mr.T. Ravikumar, learned Senior Standing Counsel for the
respondent.
4. 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.
5. We are informed by the learned counsel for the appellant/assessee
that the assessee has already filed the requisite Form 1 on 20.10.2020
under Section 4 of the Act.
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Tax Case Appeal No.235 of 2011
6. 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 this
appeal 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 Appeal stands
disposed of on the ground that the assessee has already filed requisite
Form 1 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 this
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.235 of 2011
7. With these observations, the Tax Case Appeal stands 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.)
18.02.2021
Index : Yes/No
Internet : Yes
Rj
To
1. The Income Tax Appellate Tribunal,
Chennai 'A' Bench, Chennai,
2. The Deputy Commissioner of Income Tax,
Business Circle-1 ,
121, Nungambakkam High Road,
Chennai - 600 034.
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Tax Case Appeal No.235 of 2011
M. DURAISWAMY, J.
and
T.V. THAMILSELVI, J.
Rj
Tax Case Appeal No.235 of 2011
18.02.2021
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