SHRI G.SHANMUGANATHAN vs. THE ASSISTANT COMMISSIONER O

Tax Case Appeal No.271 of 2021 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 22.04.2021 CORAM THE HON'BLE MR.JUSTICE M. DURAISWAMY AND THE HON'BLE MR.JUSTICE KRISHNAN RAMASAMY Tax Case Appeal No.271 of 2021 Shri G. Shanmuganathan, Lakshmi House, 7/8, Palakkad Main Road, Kuniamuthur, Coimbatore – 641 008.

... Appellant Vs.

The Assistant Commissioner of Income Tax, Central Circle – I, Aayakar Bhavan, 63, Race Course Road, Coimbatore – 641 018. ... Respondent Tax Case Appeal filed under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal, Madras “A” Bench, dated 04.11.2016 passed in I.T.A.No.569/Mds/2016, Assessment Year 2009- 10. For Appellant : Mr.M.P.Senthil Kumar

For Respondent : Mr.T.R.Senthil Kumar

Senior Standing Counsel

Page 1/6 https://www.mhc.tn.gov.in/judis/ Tax Case Appeal No.271 of 2021 J U D G M E N T (Delivered by M. DURAISWAMY, J) The appeal filed by the assessee under Section 260A of the Income Tax Act, 1961 ('the Act' for brevity), is directed against the order, dated 04.11.2016, passed by the Income Tax Appellate Tribunal, Madras “A” Bench, Chennai ('the Tribunal' for brevity) in I.T.A.No.569/Mds/2016 for the Assessment Year 2009-10. The appellant/assessee has raised the following Substantial Questions of Law in the above appeal: "1.Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was perverse in vacating the findings of the Commissioner of Income Tax (Appeals) and confirming the order of Assessing Officer? 2.Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in holding that the transaction of sale of agricultural land would be treated as “Adventure in the nature of Trade”? 3.Whether on the facts and in the circumstances of the case, the land sold by the Appellant was agricultural land as per the evidence placed on record and sale of the same could not be treated as Adventure in the nature of Trade, to treat it as “Income Page 2/6 https://www.mhc.tn.gov.in/judis/ Tax Case Appeal No.271 of 2021 from Business”?” 2. We have heard Mr.M.P.Senthil Kumar, learned counsel for the appellant/ assessee and Mr.T.R.Senthil Kumar, learned Senior Standing Counsel for the respondent/Revenue. 3. It may not be necessary for this Court to decide the Substantial Questions of Law framed for consideration on account of certain subsequent developments. The Government of India enacted the Direct Tax Vivad Se Vishwas Act, 2020 (Act 3 of 2020) to provide for resolution of disputed tax and for matters connected therewith or incidental thereto. The Act of the Parliament received the assent of the President on 17th March 2020 and published in the Gazette of India on 17th March 2020. 4. We are informed by the learned counsel for the appellant/assessee that the assessee has already filed the requisite Forms 1 & 2 on 31.03.2021 under Section 4 of the Act. Page 3/6 https://www.mhc.tn.gov.in/judis/ Tax Case Appeal No.271 of 2021 5. In the light of the fact that the assessee has already availed the benefit under the Act, no useful purpose would be served in keeping the appeal pending. At the same time, safeguarding the interest of the assessee in the event the order to be passed by the Department under the Act is not in favour of the assessee. Accordingly, the Tax Case Appeal stands disposed of on the ground that the assessee has already filed the requisite Forms 1 & 2 and the Department shall process the application at the earliest in accordance with the said Act and communicate the decision to the assessee at the earliest. As observed, the assessee is given liberty to restore the appeal in the event the ultimate decision to be taken on the declaration filed by the assessee under Section 4 of the said Act is not in favour of the assessee. If such a prayer is made, the Registry shall entertain the prayer without insisting upon any application to be filed for condonation of delay in restoration of the appeal and on such request made by the assessee by filing a Miscellaneous Petition for Restoration, the Registry shall place such petition before the Division Bench for orders. Page 4/6 https://www.mhc.tn.gov.in/judis/ Tax Case Appeal No.271 of 2021 6. With this observation, the Tax Case Appeal stands disposed of with the aforementioned liberty and consequently, the Substantial Questions of Law are left open. No costs. [M.D., J.] [K.R., J.] 22.04.2021

Index : Yes/No Internet : Yes mkn To 1.The Income Tax Appellate Tribunal, Madras “A” Bench 2.The Assistant Commissioner of Income Tax, Central Circle – I, Aayakar Bhavan, 63, Race Course Road, Coimbatore – 641 018. Page 5/6 https://www.mhc.tn.gov.in/judis/ Tax Case Appeal No.271 of 2021 M. DURAISWAMY, J. and KRISHNAN RAMASAMY, J. mkn Tax Case Appeal No.271 of 2021

22.04.2021 Page 6/6 https://www.mhc.tn.gov.in/judis/