M/S R.V. STEELS PVT LTD vs. THE ASSISTANT COMMISSIONER O

Tax Case Appeal No.442 of 2021 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 31.08.2021 CORAM : THE HON'BLE MR. JUSTICE T.S. SIVAGNANAM AND THE HON'BLE MR. JUSTICE SATHI KUMAR SUKUMARA KURUP Tax Case Appeal No.442 of 2021 M/s.R.V.Steels Pvt. Ltd., 108, Mahatma Gandhi Raod, Nungumbakkam, Chennai – 600 034.

... Appellant Vs.

The Assistant Commissioner of Income Tax, Central Circle III(3), Chennai – 600 034. ... 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 13.08.2018 passed in I.T.A.No.2201/Chny/2017. Page 1/6 https://www.mhc.tn.gov.in/judis/ Tax Case Appeal No.442 of 2021 For Appellant : Mr.R.Sivaraman For Respondent : Mr.T.R.Senthil Kumar

Senior Standing Counsel and M/s.K.G.Usha Rani Standing Counsel

J U D G M E N T (Judgment was delivered by T.S. SIVAGNANAM, J.) This appeal filed by the assessee under Section 260A of the Income Tax Act, 1961 ('the Act' for brevity), is directed against the order dated 13.08.2018 passed by the Income Tax Appellate Tribunal, Madras "A" Bench, ('the Tribunal' for brevity) in I.T.A.No.2201/Chny/2017 for the assessment year 2007-08. The appellant/assessee has raised the following substantial questions of law in this appeal : “1.Whether, on the facts and in the circumstances of this case, the Income Tax Appellate Tribunal was justified in upholding the addition under Section 41(1) of the Income Tax Act, 1961? 2.Whether on the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in law in failing Page 2/6 https://www.mhc.tn.gov.in/judis/ Tax Case Appeal No.442 of 2021 to identify that the additions amounting to Rs.25,32,827/- and Rs.31,75,900/- forms part of the opening balance and fall u/s.41(1) of the Income Tax Act, 1961?” 2. We have heard Mr.R.Sivaraman, learned counsel appearing for the appellant/assessee and Mr.T.R.Senthil Kumar, learned Senior Standing Counsel and M/s.K.G.Usha Rani, learned 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 availed the benefit of Vivad Se Vishwas Scheme and Page 3/6 https://www.mhc.tn.gov.in/judis/ Tax Case Appeal No.442 of 2021 the assessee had already been issued with Form-3 on 22.04.2021. 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, 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, is to be safeguarded. Accordingly, the Tax Case Appeal stands disposed of on the ground that the assessee has already been issued with Form-3 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.442 of 2021 6. With this observation, this Tax Case Appeal stands disposed of with the aforementioned liberty, and consequently, the Substantial Questions of Law are left open. No costs. (T.S.S., J.) (S.S.K., J.) 31.08.2021

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Internet : Yes

Index : Yes / No To 1. Income Tax Appellate Tribunal, Madras "A" Bench 2.The Assistant Commissioner of Income Tax, Central Circle III(3), Chennai – 600 034. Page 5/6 https://www.mhc.tn.gov.in/judis/ Tax Case Appeal No.442 of 2021 T.S. SIVAGNANAM, J. and SATHI KUMAR SUKUMARA KURUP, J. mkn Tax Case Appeal No.442 of 2021

31.08.2021 Page 6/6 https://www.mhc.tn.gov.in/judis/