Madras High Court
Commissioner Of Income Tax vs M/S.Spencer & Co. Ltd on 9 March, 2021
Tax Case Appeal No.150 of 2017
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 09.03.2021
CORAM
THE HON'BLE MR.JUSTICE M. DURAISWAMY
AND
THE HON'BLE MRS.JUSTICE T.V. THAMILSELVI
Tax Case Appeal No.150 of 2017
Commissioner of Income Tax,
Chennai. ... Appellant
Vs.
M/s.Spencer & Co. Ltd.,
769, Anna Salai,
Chennai – 600 002. ... Respondent
Tax Case Appeal filed under Section 260A of the Income Tax Act,
1961 against the order of the Income Tax Appellate Tribunal, Chennai
"C" Bench, dated 17.04.2015 passed in I.T.A.No.1731/Mds/2012.
For Appellant : Mr.J.Narayanaswamy
Senior Standing Counsel
For Respondent : Mr.R.Sivaraman
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Tax Case Appeal No.150 of 2017
JUDGMENT
(Delivered by M.DURAISWAMY, J.)
This appeal filed by the Revenue under Section 260A of the
Income Tax Act, 1961 ('the Act' for brevity), is directed against the order
dated 17.04.2015 passed by the Income Tax Appellate Tribunal, Chennai
"C" Bench, ('the Tribunal' for brevity) in I.T.A.No.1731/Mds/2012 for
the assessment year 2008-09. The Revenue has raised the following
Substantial Questions of Law in the above appeal:
"1.Whether on the facts and in the circumstances of
the case, the Tribunal was right in holding that the assessee
is entitled for the claim of depreciation on the alleged
expenditure incurred in building the brand (Spencer) when
the assessee had not incurred any cost towards acquiring
the brand and when the assessee had not substantiated the
basis of the valuation/expenditure incurred for the purpose
of the said brand.
2.Whether on the facts and in the circumstances of
the case, the Tribunal was right in holding that the assessee
is entitled for deduction of the expenditure incurred towards
the licence fee paid to RPG Enterprises Ltd.
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Tax Case Appeal No.150 of 2017
3.Whether on the facts and in the circumstances of
the case, the Tribunal was right in holding that Rule 8D is
prospective in nature and is not applicable to the Asst.Year
2007-08?
4.Whether on the facts and in the circumstances of
the case, the Tribunal was right in holding that the assessee
had not incurred any expenditure towards earning the
exempt dividend income and consequently no disallowance
can be made u/s.14-A?”
2. We have heard Mr.J.Naryanaswamy, learned Senior Standing
Counsel for the appellant/Revenue and Mr.R.Sivaraman, learned counsel
for the respondent/assessee.
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
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Tax Case Appeal No.150 of 2017
17th March 2020.
4.Learned counsel for the respondent/assessee submitted that the
assessee had availed the Vivad Se Vishwas Scheme and that the
respondent/assessee had already been issued with Form–3 on
09.02.2021.
5.Since the respondent/assessee had been issued with Form-3,
nothing survives for adjudication in the above appeal. Recording the
submission made by the learned counsel for the respondent/assessee, the
Tax Case Appeal stands disposed of. No costs.
[M.D., J.] [T.V.T.S., J.]
Index : Yes/No 09.03.2021
Internet : Yes
mkn
To
1. Income Tax Appellate Tribunal, Chennai "C" Bench
2.The Commissioner of Income Tax,
Chennai.
M. DURAISWAMY, J.
and
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Tax Case Appeal No.150 of 2017
T.V. THAMILSELVI, J.
mkn
Tax Case Appeal No.150 of 2017
09.03.2021
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