COMMISSIONER OF INCOME TAX vs. M/S. PRECOT MERIDIAN LTD

T.C.A.No.152 of 2016 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 29.08.2022 CORAM : THE HONOURABLE MR. JUSTICE R. MAHADEVAN AND THE HONOURABLE MR. JUSTICE MOHAMMED SHAFFIQ T.C.A.No.152 of 2016 The Commissioner of Income Tax, No.63, Race Course Road, Coimbatore. ... Appellant

Versus M/s. Precot Meridian Ltd., 'Suprem' P.B.No.7161, Green Fields, Puliakulam, Coimbatore - 641 045. PAN: AAB CP 3038 K ... Respondent Appeal preferred under Section 260A of the Income Tax Act, 1961, against the order dated 15.05.2015 passed by the Income Tax Appellate Tribunal, “C” Bench, Chennai, in I.T.A.No.1856/Mds/2014. For Appellant : Mr.M.Swaminathan Senior Standing Counsel Mrs.V.Pushpa, Standing Counsel For Respondent : Mr.S.Sridhar Page 1/5 https://www.mhc.tn.gov.in/judis T.C.A.No.152 of 2016 JUDGMENT (Judgment of the Court was delivered by R.MAHADEVAN, J.) This tax case appeal has been filed by the appellant / Revenue, challenging the order dated 15.05.2015 passed by the Income Tax Appellate Tribunal, “C” Bench, Chennai, in I.T.A.No.1856/Mds/2014, relating to the assessment year 1995-96. 2.By order dated 09.03.2016, this court admitted the aforesaid tax case appeal on the following substantial questions of law: “(i) Whether on the facts and circumstances of the case, the Appellate Tribunal was correct in holding that the period specified under Section 220(1) has to be taken into consideration from the date of passing of the fresh assessment order and not the original assessment order? and (ii) Whether on the facts and circumstances of the case, the Appellate Tribunal is correct in not considering the CBDT's circular No.334 wherein it was stated that the assessment made originally by the Income Tax Officer is either varied or even set aside by one Appellate Authority, but on further appeal, the original order of the Page 2/5 https://www.mhc.tn.gov.in/judis T.C.A.No.152 of 2016 Income Tax officer is restored either in part or wholly, the interest payable under Section 220(2) will be computed with reference to the due date reckoned from the original demand notice and with reference to the tax finally determined?" 3.When the matter was taken up for consideration, the learned standing counsel appearing for the appellant / Revenue submitted that during the pendency of this tax case appeal, 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 25.11.2021 The learned Senior Standing Counsel has also filed Form 5 dated 25.11.2021 to that effect. 4. The aforesaid submission made by the learned counsel for the appellant/Revenue has also been fairly conceded by the learned counsel appearing for the respondent/ assessee. Page 3/5 https://www.mhc.tn.gov.in/judis T.C.A.No.152 of 2016 5. In view of the subsequent development, this court is of the opinion that nothing survives for adjudication in this appeal. Recording the submission so made by the learned counsel on either side, the Tax Case Appeal stands disposed of. No costs. (R.M.D., J.) (M.S.Q., J.) 29.08.2022

Internet : Yes

Index : Yes / No Page 4/5 https://www.mhc.tn.gov.in/judis T.C.A.No.152 of 2016 R. MAHADEVAN, J. and MOHAMMED SHAFFIQ, J. av To 1. The Income Tax Appellate Tribunal, “C” Bench, Chennai. 2. The Commissioner of Income Tax, No.63, Race Course Road, Coimbatore. 3. The Assistant Commissioner of Income Tax, Company Circle-I(2), Coimbatore. 4. The Commissioner of Income Tax (Appeals) - 1, Coimbatore. T.C.A.No.152 of 2016 29.08.2022 (1/2) Page 5/5 https://www.mhc.tn.gov.in/judis