T.V. SUNDRAM IYENGAR & SONS vs. THE COMMISSIONER OF INCOME

Tax Case Appeal Nos.331 and 800 of 2015 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 17.12.2021 CORAM : THE HON'BLE MR. JUSTICE R. MAHADEVAN AND THE HON'BLE MR. JUSTICE MOHAMMED SHAFFIQ Tax Case Appeal Nos. 331 and 800 of 2015 T.C.A. No. 331 of 2015:- T.V.Sundram Iyengar & Sons Ltd Madurai.

... Appellant Vs.

The Commissioner of Income Tax Madurai. ... 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, Chennai dated 26.09.2014 passed in I.T.A.No.687/Chny/2014 for the assessment year 2006-07. For Appellant : Mr. N.V.Balaji For Respondent : Mrs. V.Pushpa Junior Standing Counsel Page 1/6 https://www.mhc.tn.gov.in/judis Tax Case Appeal Nos.331 and 800 of 2015 T.C.A. No. 800 of 2015:- T.V.Sundram Iyengar & Sons Ltd 7-B, West Veli Street Madurai.

... Appellant Vs.

The Commissioner of Income Tax Madurai. ... 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, Chennai dated 04.03.2015 passed in M.P. 1//Chn/2015 in I.T.A.No.687/2014 for the assessment year 2006-07. For Appellant : Mr. N.V.Balaji For Respondent : Mrs. V.Pushpa Junior Standing Counsel C O M M O N J U D G M E N T (Judgment was delivered by R. MAHADEVAN, J.) These Tax Case Appeals have been filed by the appellant / Assessee challenging the order 26.09.2014 passed in I.T.A.No.687/Chny/2014 for the Page 2/6 https://www.mhc.tn.gov.in/judis Tax Case Appeal Nos.331 and 800 of 2015 assessment year 2006-07 as well as the order dated 04.03.2015 passed in M.P. 1//Chn/2015 in I.T.A.No.687/2014 in respect of the same assessment year i.e., 2006-07 passed by the Income Tax Appellate Tribunal, Bench 'A', Chennai ('the Tribunal', for brevity). 2.By orders dated 24.08.2015, this court admitted the tax case appeals on the following substantial questions of law: TCA.No.331 of 2015:- “1.Whether, on the facts and in the circumstances of the case, the Tribunal is justified, in law, in confirming the appeal and in holding that the reassessment for invoking section 50C of the Act was valid ? 2. Whether, on the fact and in the circumstances of the case, the Tribunal is right, in law, in upholding the reassessment based on the Audit objection and in ignoring the decision of the Supreme Court in the case of Indian & Eastern News Paper Society v. CIT reported in 119 ITR 996 (SC)? 3. Whether, on the facts and in the circumstances of the case, the Tribunal is right, in law, in confirming the reassessment, for applying section 50C of the Act, based on Collectors valuation report, without dealing with grounds number three and four raised by the assessee? Page 3/6 https://www.mhc.tn.gov.in/judis Tax Case Appeal Nos.331 and 800 of 2015 TCA.No.800 of 2015:- “Whether, on the facts and in the circumstances of the case, the Tribunal, having fairly extracted the miscellaneous petition filed by the assessee, is justified, in law, in not dealing with the facts given therein and in holding that it would amount to review of the order of the Tribunal?” 3.When the matters 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 filed the requisite Forms 1 and 2 under Section 4 (1) of the Direct Tax Vivad Se Vishwas Act, 2020, which were accepted and Form 3 was issued to the assessee on 18.03.2021 by the Income Tax Department. The learned counsel has also filed a memo along with a copy of Form-3 to that effect. 4.The aforesaid submission made by the learned counsel for the appellant / assessee has also been fairly conceded by the learned senior standing counsel appearing for the respondent / Revenue. Page 4/6 https://www.mhc.tn.gov.in/judis Tax Case Appeal Nos.331 and 800 of 2015 5.This court heard the submissions made by the learned counsel on either side, as per which, the assessee has already availed the benefit conferred under the beneficial legislation viz., the Direct Tax Vivad Se Vishwas Act, 2020, enacted for resolution of disputed tax and for matters connected therewith or incidental thereto, which came into force with effect from 17.03.2020; and the declarations submitted by them were also accepted and Form 3 was also issued to the assessee by the Income Tax Department. In view of such development, it is unnecessary for this court to decide the substantial questions of law arisen in these tax case appeals.

6.Therefore, recording the submissions so made by the learned counsel on either side, these appeals stand disposed of, directing the department to process the applications at the earliest in accordance with the Act and communicate the decision to the assessee at the earliest. No costs. [R.M.D,J.] [M.S.Q, J.] 17.12.2021

Page 5/6 https://www.mhc.tn.gov.in/judis Tax Case Appeal Nos.331 and 800 of 2015 Index : Yes / No Internet : Yes

R. MAHADEVAN, J. and MOHAMMED SHAFFIQ, J. Maya To 1.The Income Tax Appellate Tribunal Chennai “A” Bench 2.The Commissioner of Income Tax Madurai. Tax Case Appeal Nos. 331 & 800 of 2015

Dated : 17.12.2021 Page 6/6 https://www.mhc.tn.gov.in/judis