Madras High Court
M/S.Sherdan Games Park & vs The Assistant Commissioner Of ... on 1 March, 2021
Tax Case Appeal No.398 of 2014
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 01.03.2021
CORAM
THE HON'BLE MR.JUSTICE M. DURAISWAMY
AND
THE HON'BLE MRS.JUSTICE T.V. THAMILSELVI
Tax Case Appeal No.398 of 2014
and
M.P.Nos.1 and 2 of 2014
M/s.Sherdan Games Park &
Holidays (P) Ltd.,
22, II Line Beach, First Floor,
Chennai – 600 001. ... Appellant
Vs.
The Assistant Commissioner of Income Tax,
Company Circle – VI(2),
New Block, 7th Floor, Aayakar Bhavan,
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, Madras
"A" Bench, dated 09.01.2014 passed in I.T.A.No.772/Mds/2011.
For Appellant : Mr.T.Promodkumar
For Respondent : Mr.J.Narayanaswamy
Senior Standing Counsel
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Tax Case Appeal No.398 of 2014
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 09.01.2014 passed by the Income Tax Appellate Tribunal, Madras
"A" Bench, ('the Tribunal' for brevity) in I.T.A.No.772/Mds/2011 for the
assessment year 2006-07. The above appeal has been admitted on
23.07.2014 on the following Substantial Questions of Law:
“1.Whether on the facts and in the circumstances of
the case, the Income Tax Appellate Tribunal was right in
holding that the land in question is non-agricultural and
the income from sale thereof is liable to tax as Long Term
Capital Gains?
2.Whether the findings of the Tribunal are perverse
on facts?”
2. We have heard Mr.T.Promodkumar, learned counsel for the
appellant/assessee and Mr.J.Narayanaswamy, learned Senior Standing
Counsel for the respondent/Revenue.
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Tax Case Appeal No.398 of 2014
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 appellant/
assessee that the assessee had already been issued with Form-3 on
09.12.2020 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.
Connected Miscellaneous Petitions are closed.
[M.D., J.] [T.V.T.S., J.]
01.03.2021
mkn
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Tax Case Appeal No.398 of 2014
Index : Yes/No
Internet : Yes
To
1. Income Tax Appellate Tribunal, Madras "A" Bench
2.The Assistant Commissioner of Income Tax,
Company Circle – VI(2),
New Block, 7th Floor, Aayakar Bhavan,
121, Nungambakkam High Road,
Chennai – 600 034.
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Tax Case Appeal No.398 of 2014
M. DURAISWAMY, J.
and
T.V. THAMILSELVI, J.
mkn
Tax Case Appeal No.398 of 2014
01.03.2021
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