Madras High Court
M/S. India Pistons Ltd vs The Deputy Commissioner Of Income ... on 14 June, 2021
Tax Case Appeal No.296 of 2021
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 14.06.2021
CORAM
THE HON'BLE MR.JUSTICE M. DURAISWAMY
AND
THE HON'BLE MRS.JUSTICE R. HEMALATHA
Tax Case Appeal No.296 of 2021
M/s. India Pistons Ltd.,
Huzur Garden, Sembium
Chennai – 600011
PAN : AAAC11493E ... Appellant
v.
The Deputy Commissioner of Income Tax,
Corporate Circle – 2(2),
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, dated 26.09.2019 passed in I.T.A.No.2340/Mds/2017.
For Appellant : Mr.R. Venkat Narayanan
For Respondent : Mr.Karthik Ranganathan
Senior Standing Counsel
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Tax Case Appeal No.296 of 2021
JUDGMENT
(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 26.09.2019 passed by the Income Tax Appellate Tribunal, Madras
"D" Bench, ('the Tribunal' for brevity) in I.T.A.No.2340/Mds/2017 for
the assessment year 2011-2012.
2. The appellant has raised the following substantial question of
law in the above appeal:-
" Whether on the facts and in the circumstances of
the case, the Tribunal was right in confirming the
disallowance of set off of carried forward business loss
and unabsorbed deprecation of the amalgamating
company under section 72a?”
3. We have heard Mr.R. Venkat Narayanan, learned counsel for the
appellant/assessee and Mr.Karthik Ranganathan, learned Senior Standing
Counsel for the respondent/Revenue.
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
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Tax Case Appeal No.296 of 2021
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 had already been issued with Form-3 on
24.02.2021 and the learned counsel for the appellant seeks permission of
this Court to withdraw the appeal.
6. In view of the submission made by the learned counsel for the
appellant, the Tax Case Appeal stands dismissed as withdrawn. No costs.
Consequently, connected miscellaneous petitions are closed.
[M.D., J.] [R.H., J.]
14.06.2021
Index : Yes/No
Internet : Yes
Rj
To
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Tax Case Appeal No.296 of 2021
1. Income Tax Appellate Tribunal, Madras "D" Bench
2.The Deputy Commissioner of Income Tax,
Corporate Circle – 2(2),
Chennai – 600 034.
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Tax Case Appeal No.296 of 2021
M. DURAISWAMY, J.
and
R.HEMALATHA, J.
Rj
Tax Case Appeal No.296 of 2021
14.06.2021
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