Madras High Court
Shri J.Srinivasan vs The Assistant Commissioner Of on 2 September, 2021
TCA.No.448 of 2021
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 02.9.2021
CORAM
THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAM
and
THE HONOURABLE MR.JUSTICE SATHI KUMAR SUKUMARA KURUP
Tax Case Appeal No.448 of 2021
Shri J.Srinivasan ...Appellant
Vs
The Assistant Commissioner of
Income Tax, Company Circle I(2),
Chennai. ...Respondent
APPEAL under Section 260A of the Income Tax Act, 1961 against
the order dated 13.11.2017 passed by the Income Tax Appellate
Tribunal, 'C' Bench, Chennai made in CO.68/Mds/2014 in I.T.A.No.
1602/Mds/2012 for the assessment year 2007-08.
For Appellant : Mr.R.Sivaraman
For Respondent : Mr.M.Swaminathan, SSC assisted by
Ms.V.Pushpa, JSC
Judgment was delivered by T.S.SIVAGNANAM,J
This appeal has been filed by the assessee under Section 260A of
https://www.mhc.tn.gov.in/judis/
TCA.No.448 of 2021
the Income Tax Act, 1961 ('the Act' for brevity) challenging the order
dated 13.11.2017 made in CO.68/Mds/2014 in I.T.A.No.1602/Mds/
2012 on the file of the Income Tax Appellate Tribunal, Chennai, 'C'
Bench ('the Tribunal' for brevity) for the assessment year 2007-08.
2. The assessee has filed this appeal by raising the following
substantial question of law:
“Whether on the facts and circumstances
of the case, the order of the ITAT that the
additional compensation (received by BDCL
and shared with Murughasan on account of
triplicate aggrement) received on behalf of
Murughasan not to be treated as income from
other sources in the hands of Appellant and
Assessable only in the hands of Murughasan
and is to be treated as exempt income arising
out of sale of agricultural land ?”
3. We have heard Mr.R.Sivaraman, learned counsel for the
appellant/assessee and Mr.M.Swaminathan, learned Senior Standing
Counsel assisted by Ms.V.Pushpa, learned Junior Standing Counsel
accepting notice for the respondent/Revenue.
4. The learned counsel appearing for the assessee submits that
the assessee already filed the declaration/undertaking under the Vivad
https://www.mhc.tn.gov.in/judis/
TCA.No.448 of 2021
Se Vishwas Scheme on 30.1.2021 and is awaiting orders to be passed
in Form No.3.
5. In the light of the subsequent event, the Competent Authority
shall process the application/declaration in accordance with the Direct
Tax Vivad Se Vishwas Act, 2020 (Act 3 of 2020) and pass appropriate
orders as expeditiously as possible. 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
appropriate Division Bench for orders.
6. The tax case appeal stands disposed of with the
aforementioned liberty. Consequently, the substantial question of law
raised is left open. No costs.
02.9.2021
https://www.mhc.tn.gov.in/judis/
TCA.No.448 of 2021
T.S.SIVAGNANAM,J
AND
SATHI KUMAR SUKUMARA KURUP,J
mka
To
1.The Income Tax Appellate Tribunal, 'C' Bench, Chennai.
2.The Assistant Commissioner of Income Tax, Company Cirlce I(2),
Chennai
TCA.No.448 of 2021
02.9.2021
https://www.mhc.tn.gov.in/judis/
