Madras High Court
Commissioner Of Income Tax vs M/S. Seshasayee Paper And Boards on 11 August, 2022
T.C.A.Nos.392, 395 and 396 of 2008
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 11.08.2022
CORAM :
THE HONOURABLE MR. JUSTICE R. MAHADEVAN
and
THE HONOURABLE MR. JUSTICE J.SATHYA NARAYANA PRASAD
T.C.A.Nos.392, 395 and 396 of 2008
Commissioner of Income Tax,
Chennai. ... Appellant in all
TCAs
Versus
M/s. Seshasayee Paper and Boards,
Erode - 638 007. ... Respondent in all
TCAs
Appeals preferred under Section 260A of the Income Tax Act, 1961,
against the order dated 28.02.2007 passed by the Income Tax Appellate
Tribunal, “D” Bench, Chennai, in I.T.A.No.1185/Mds/1999,
I.T.A.No.129/Mds/2002 and I.T.A.No.1220/Mds/2003.
For Appellant : Mr.M.Swaminathan
Senior Standing Counsel
M/s.V.Pushpa,
Standing Counsel in all TCAs
For Respondent : Mr.N.Muthukumar in all TCAs
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T.C.A.Nos.392, 395 and 396 of 2008
COMMON JUDGMENT
(Judgment of the Court was delivered by R.MAHADEVAN, J.)
These tax case appeals have been filed by the appellant / Revenue,
challenging the common order dated 28.02.2007 passed by the Income Tax
Appellate Tribunal, “D” Bench, Chennai, I.T.A.No.1185/Mds/1999,
I.T.A.No.129/Mds/2002 and I.T.A.No.1220/Mds/2003, relating to the
respective assessment years 1995-96, 1998-99 and 1995-96.
2.By order dated 30.06.2008, this court admitted the aforesaid tax case
appeals on the following substantial questions of law:
“(i) Whether in the facts and circumstances of the case, the
Tribunal was right in allowing a deduction of the amounts spent
on replacement of machinery/renewal of machinery, which gave
an enduring benefit to the assessee as revenue expenditure?
(ii) Whether in the facts and circumstances of the case, the
Tribunal was right in holding that the assessee is entitled to
depreciation on the amount paid on the sale and lease back
transaction?"
3. When the matters were taken up for consideration, the learned counsel
appearing for the respondent / assessee submitted that during the pendency of
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T.C.A.Nos.392, 395 and 396 of 2008
these tax case appeals, the assessee has availed the benefit conferred under the
Direct Tax Vivad Se Vishwas Act, 2020 and filed necessary declarations, which
were accepted and Form 5 / order for full and final settlement of tax arrears,
was also issued by the Income tax department, on 24.11.2021. The learned
counsel has also filed Form 5 dated 24.11.2021 to that effect.
4. The aforesaid submission made by the learned counsel for the
respondent/assessee has also been fairly conceded by the learned standing
counsel appearing for the appellant/ Revenue.
5. In view of the subsequent development, this court is of the opinion that
nothing survives for adjudication in these appeals. Recording the submission so
made by the learned counsel on either side, these Tax Case Appeals stand
disposed of. No costs.
[R.M.D., J.] [J.S.N.P., J.]
11.08.2022
Internet : Yes
Index : Yes / No
av
R. MAHADEVAN, J.
and
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T.C.A.Nos.392, 395 and 396 of 2008
J.SATHYA NARAYANA PRASAD, J.
av
To
1. The Income Tax Appellate Tribunal,
“D” Bench, Chennai.
2. Commissioner of Income Tax,
Chennai.
3. The Joint Commissioner of Income Tax,
Special Range, Salem.
4. The Deputy Commissioner of Income Tax,
Central Circle 11(1),
Chennai.
T.C.A.Nos.392, 395 and 396 of 2008
11.08.2022
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