M/S. Tropical Agrosystem (India) ... vs The Assistant Commissioner Of ...
2022 Latest Caselaw 990 Mad

                                                                     Tax Case Appeal Nos. 1009 & 1010 of 2014

                                  IN THE HIGH COURT OF JUDICATURE AT MADRAS

                                                    DATED : 21.01.2022

                                                        CORAM :

                                  THE HONOURABLE MR. JUSTICE R. MAHADEVAN
                                                          AND
                         THE HONOURABLE MR. JUSTICE MOHAMMED SHAFFIQ

                                         Tax Case Appeal Nos. 1009 & 1010 of 2014
                                                          and
                                                    M.P. No. 1 of 2014

                  M/s. Tropical Agrosystem (India) Ltd
                  No.72, Marshalls Road
                  Egmore
                  Chennai – 600 008                                        .. Appellant in both TCAs

                                                           Vs.

                  The Assistant Commissioner of Income-tax
                  Company Circle – III (2)
                  New Block, 4th Floor
                  121, Mahatma Gandhi Road
                  Nungambakkam
                  Chennai – 600 034                                      .. Respondent in both TCAs

                            Tax Case Appeals filed under Section 260A of the Income Tax Act,
                  1961 against the common order of the Income Tax Appellate Tribunal,
                  Madras           “A”     Bench,    Chennai     dated    30.10.2014         passed       in
                  I.T.A.No.91/Mds/2012 and C.O.No.25/Mds/2012.


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                                                                   Tax Case Appeal Nos. 1009 & 1010 of 2014

                                  For Appellant     : Mr.N.Muthukumar in both TCAs
                                  For Respondent    : Mrs.V.Pushpa in both TCAs
                                                      Junior Standing Counsel

                                              COMMON JUDGMENT
                           (Judgement of the Court was delivered by R. MAHADEVAN, J.)

                            These Tax Case Appeals have been filed by the appellant / Assessee

                  challenging the order dated 30.10.2014 passed by the Income Tax Appellate

                  Tribunal,       Bench   'A',   Chennai   ('the   Tribunal',      for    brevity)      in

                  I.T.A.No.91/Mds/2012 and C.O.No.25/Mds/2012, relating to the Assessment

                  Year 2008-2009.



                            2. By order dated 29.06.2015, this court admitted the aforesaid tax

                  case appeals on the following substantial questions of law:

                  T.C.A No. 1009 of 2014
                                   “1.Whether on the facts and in the circumstances of the
                            case, the Income Tax Appellate Tribunal is right in law in
                            disallowing an amount of Rs.1,75,82,000/- claimed by the
                            appellant as cost of improvement of the property in the
                            computation of capital gains?
                                   2. Whether on the facts and in the circumstances of the
                            case the Income Tax Appellate Tribunal is right in law in
                            disallowing the claim of an amount of Rs.7 crores incurred
                            wholly and exclusively by the appellant in connection with the
                            transfer of the property in the computation of capital gains?”



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                                                                 Tax Case Appeal Nos. 1009 & 1010 of 2014

                  T.C.A No. 1010 of 2014

                                  “Whether on the facts and in the circumstances of the
                            case, the Income Tax Appellate Tribunal is right in law in
                            confirming the disallowance u/s 14A of the Income Tax Act of
                            an amount of Rs.3,42,556/-?”

                            3.When these matter were taken up for consideration, the learned

                  counsel appearing for the appellant / assessee submitted that during the

                  pendency of these tax case appeals, the assessee has availed the benefit

                  conferred under the Direct Tax Vivad Se Vishwas Act, 2020 and sought

                  permission of this Court to withdraw these tax case appeals.



                            4. Recording the submission so made by the learned counsel for the

                  appellant, permission is granted to withdraw these cases and accordingly,

                  these tax case appeals are dismissed as withdrawn. No costs. Consequently,

                  connected miscellaneous petition is closed.




                                                                    [R.M.D, J.]     [M.S.Q, J.]
                                                                            21.01.2022
                  dhk
                  Internet : Yes
                  Index : Yes / No
                                                                            R. MAHADEVAN, J.

Page 3/4 https://www.mhc.tn.gov.in/judis Tax Case Appeal Nos. 1009 & 1010 of 2014

and MOHAMMED SHAFFIQ, J.

dhk

To

1.The Income Tax Appellate Tribunal, Madras “A” Bench

2.The Assistant Commissioner of Income-tax Company Circle – III (2) New Block, 4th Floor 121, Mahatma Gandhi Road Nungambakkam Chennai – 600 034

TCA Nos.1009 & 1010 of 2014

21.01.2022

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