Principal Commissioner Of Income ... vs M/S. Chillara Kalyan
2023 Latest Caselaw 3494 Tel

       THE HON'BLE SRI JUSTICE P.SAM KOSHY
                        AND
 THE HON'BLE SRI JUSTICE LAXMI NARAYANA ALISHETTY

                    I.T.T.A. No. 351 of 2019

JUDGMENT:(per Hon'ble Sri Justice P.SAM KOSHY)


     Heard Sri J.V. Prasad, learned Senior Standing Counsel

appearing for the appellant and Sri Challa Gunaranjan, learned

counsel appearing for the respondent.

2. The challenge in the present appeal is primarily

questioning the order of the ITAT in affirming the order of CIT

(appeals) in accepting the subsisting liability on the Assessee, so

far as return of Rs.7.00 crores is concerned, even when the

Assessee did not in fact return the amount. The said amount of

Rs.7.00 crores was a payment to be made in terms of the

arbitration award, which has been affirmed even in appeal by

the High Court and which now has also been settled before the

Hon'ble Supreme Court in S.L.A.Nos.28604 and 28605 of 2018,

decided on 10.04.2022.

3. In view of the fact that the Assessee has been ordered to

pay Rs.7.00 crores to the developer and the same has already

been paid by the Assessee and the proof of payment is also

brought on record, hence, the finding of the ITAT does not

warrant any interference. Therefore, nothing remains in the

matter for adjudication. Accordingly, the appeal is closed. There

shall be no order as to costs.

Consequently, miscellaneous petitions pending, if any,

shall stand closed.

___________________ P.SAM KOSHY, J

___________________________________________ LAXMI NARAYANA ALISHETTY, J

1st November, 2023 vsl/bms

THE HON'BLE SRI JUSTICE P.SAM KOSHY AND THE HON'BLE SRI JUSTICE LAXMI NARAYANA ALISHETTY

I.T.T.A. No. 351 of 2019 (per the Hon'ble Sri Justice P.SAM KOSHY)

1st November, 2023

vsl/bms