THE COMMISSIONER OF INCOME TAX vs. M/S SIVA VENTURES LTD

TCA/228/2015HC Madras19 August 2024Bench: Honourable Mr Justice R. SURESH KUMAR4 pages

AI SummaryWithdrawn

What did the High Court hold?

The High Court recorded the submission made by the Revenue's counsel regarding the liquidation of the respondent company and the appointment of an official liquidator. Based on this submission, the Court disposed of the Tax Case Appeal. The disposal was made with liberty granted to the official liquidator to agitate the issue at a later point in time, should the Revenue decide to proceed further. No order as to costs was made. The specific merits of the appeal or the Tribunal's order were not adjudicated upon.

What were the facts?

The Revenue, the Commissioner of Income Tax, Chennai, filed a Tax Case Appeal under Section 260A of the Income Tax Act, 1961, against an order of the Income Tax Appellate Tribunal ('D' Bench, Chennai) dated May 6, 2014, pertaining to Assessment Year 2007-08. The appeal was filed against M/s. Siva Ventures Limited. The respondent company was stated to be under liquidation, with an official liquidator appointed. The Revenue's counsel submitted that the appeal could not be pursued further until the liquidation process was completed.

What were the issues?

1. Whether the Tax Case Appeal filed by the Revenue can be pursued further while the respondent company is under liquidation and an official liquidator has been appointed? (Question of law) The Revenue, through its Senior Standing Counsel, argued that the appeal could not be persuaded further due to the liquidation of the respondent company and the appointment of a liquidator. No arguments were recorded for the respondent as there was no appearance.

Which sections of the Income-tax Act were involved?

Section 260A

AI-generated summary — verify with the full judgment below

T.C.A.No.228 of 2015 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 19.08.2024 CORAM THE HONOURABLE MR.JUSTICE R.SURESH KUMAR and THE HONOURABLE MR.JUSTICE C.SARAVANAN T.C.A.No.228 of 2015 The Commissioner of Income Tax, Chennai. ... Appellant -Vs- M/s.Siva Ventures Limited, Sterling Tower, 327, Anna Salai, Teynampet, Chennai - 600 006.

... Respondent PRAYER : Tax Case Appeal filed under Section 260 A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal 'D' Bench, Chennai dated 06.05.2014 in I.T.A.No.418/Mds/2014 for the assessment year 2007-08. For Appellant : Mr.J.Narayanaswamy Senior Standing Counsel for Mr.T.Ravikumar For Respondent : No appearance 1/4 https://www.mhc.tn.gov.in/judis T.C.A.No.228 of 2015 J U D G M E N T (Judgment of the Court was delivered by R.SURESH KUMAR, J) Mr.J.Narayanaswamy, learned Senior Standing Counsel appearing for the appellant / Revenue submits that, the respondent Company is under liquidation and liquidator has already been appointed, unless the liquidation process takes place, this tax appeal cannot be pursuaded further. 2. Recording the said submission, this Tax Case Appeal is disposed of with a liberty to the official liquidator to agitate the issue at a later point of time, in case, the Revenue proceeds further. However, there shall be no order as to costs. (R.S.K., J.) (C.S.N., J.) 19.08.2024 NCC : Yes / No Index : Yes / No Speaking Order : Yes / No vji 2/4 https://www.mhc.tn.gov.in/judis T.C.A.No.228 of 2015 To 1. The Commissioner of Income Tax, Chennai. 2. The Income Tax Appellate Tribunal 'D' Bench, Chennai. 3/4 https://www.mhc.tn.gov.in/judis T.C.A.No.228 of 2015 R.SURESH KUMAR, J. and C.SARAVANAN, J. vji T.C.A.No.228 of 2015 19.08.2024 4/4 https://www.mhc.tn.gov.in/judis

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