Madras High Court
Sri Chandrakumar vs The Assistant Commissioner Of ... on 18 February, 2021
Tax Case Appeal No.895 of 2010
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.895 of 2010
Sri Chandrakumar ... Appellant
v.
The Assistant Commissioner of Income Tax,
Company Circle,
Tirupur. ... Respondent
Tax Case Appeal filed under Section 260A of the Income Tax Act,
1961 against the order of the Income Tax Appellate Tribunal, “A” Bench,
Chennai dated 20.11.2009 passed in ITA.No.1341/Mds/2009 for the
Assessment Year 2005-06.
For Appellant : Mr.Shreekumar
for Mr. R. Sivaraman
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Tax Case Appeal No.895 of 2010
For Respondent : Mr.T.R. Senthil Kumar
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
20.11.2009 passed by the Income Tax Appellate Tribunal, Chennai 'A'
Bench, Chennai ('the Tribunal' for brevity) in ITA.No.1341/Mds/2009 for
the Assessment Year 2005-06.
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 bar stipulated under section 71(2A) was only in
respect of business loss under the head "profit and gains of
business or profession" and the same is not precluded from
claiming set off on unabsorbed depreciation against income
from salary having regard to the provision of section 32(2)
of the Act?"
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Tax Case Appeal No.895 of 2010
3. We have heard Mr.Shreekumar, learned counsel for the appellant
and Mr.T.R. Senthil Kumar, 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.
4. We are informed by the learned counsel for the appellant/assessee
that the assessee has already filed the requisite Forms 1 and 2 on
30.01.2021 under Section 4 of the Act.
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Tax Case Appeal No.895 of 2010
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 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
Forms 1 and 2 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.895 of 2010
6. 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 Assistant Commissioner of Income Tax,
Company Circle,
Tirupur.
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Tax Case Appeal No.895 of 2010
M. DURAISWAMY, J.
and
T.V. THAMILSELVI, J.
Rj
Tax Case Appeal No.895 of 2010
18.02.2021
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