Madras High Court
M/S.Caplin Point Laboratories ... vs The Deputy Commissioner Of ... on 30 June, 2021
Tax Case Appeal No.15 of 2013
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 30.06.2021
CORAM
THE HON'BLE MR.JUSTICE M. DURAISWAMY
AND
THE HON'BLE MRS.JUSTICE R. HEMALATHA
Tax Case Appeal No.15 of 2013
M/s.Caplin Point Laboratories Ltd.,
No.86, Bazullah Road,
T.Nagar,
Chennai – 600 017. ... Appellant
Vs.
The Deputy Commissioner of Income-Tax,
Company Circle-(3),
Tambaram,
Chennai – 600 045. ... 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 30.07.2012 passed in I.T.A.No.222/Mds/2003.
For Appellant : Ms.Sri Niranjani Srinivasan
For Respondent : Mr.T.Ravi Kumar
Senior Standing Counsel
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Tax Case Appeal No.15 of 2013
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 30.07.2012 passed by the Income Tax Appellate Tribunal, Madras
"D" Bench, ('the Tribunal' for brevity) in I.T.A.No.222/Mds/2003 for the
Assessment Year 1995-96. The above appeal has been admitted on
26.02.2013 on the following Substantial Question of Law:
"Whether on the facts and in the circumstances of
the case, the Income Tax Appellate Tribunal is right in law
in holding that the interest income from share application
money is assessable as 'income from other sources' and
not as 'income from business', eligible for deduction
u/s.80HH and 80I of the Income Tax Act, as claimed?”
2. We have heard Ms.Sri Niranjani Srinivasan, learned counsel for
the appellant/assessee and Mr.T.Ravi Kumar, learned Senior Standing
Counsel for the respondent/Revenue.
3. It may not be necessary for this Court to decide the Substantial
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Tax Case Appeal No.15 of 2013
Question 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 had already been issued with Form-3 on
12.02.2021 and the learned counsel for the appellant seeks permission of
this Court to withdraw the appeal.
5. In view of the submission made by the learned counsel for the
appellant, the Tax Case Appeal stands dismissed as withdrawn. No costs.
[M.D., J.] [R.H., J.]
30.06.2021
mkn
Index : Yes/No
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Tax Case Appeal No.15 of 2013
Internet : Yes
To
1. Income Tax Appellate Tribunal, Madras "D" Bench
2.The Deputy Commissioner of Income-Tax,
Company Circle-(3),
Tambaram,
Chennai – 600 045.
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Tax Case Appeal No.15 of 2013
M. DURAISWAMY, J.
and
R. HEMALATHA, J.
mkn
Tax Case Appeal No.15 of 2013
30.06.2021
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