M/S.TAMILNAD MERCANTILE BANK vs. THE ASSISTANT COMMISSIONER O

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TCA/531/2021HC Madras26 April 2022Bench: Hon`ble Mr Justice R. MAHADEVAN4 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court considered the submission and endorsement made by the learned counsel for the appellant seeking permission to withdraw the Tax Case Appeal. In view of this request, the High Court allowed the withdrawal. Consequently, the Tax Case Appeal was dismissed as withdrawn. No costs were imposed. The judgment does not record any decision on the merits of the original appeal filed before the ITAT, as the appeal was withdrawn at the High Court stage.

What were the facts?

The appeal was filed by M/s. Tamil Nadu Mercantile Bank Ltd. (the assessee) against the order of the Income Tax Appellate Tribunal, Chennai 'A' Bench, dated 30.07.2021, pertaining to the assessment year 2012-13. The respondent in the appeal is the Assistant Commissioner of Income Tax, Circle - 1, Tuticorin (the revenue). The appeal was filed under Section 260A of the Income Tax Act, 1961. The matter was listed before the High Court of Judicature at Madras for withdrawal.

What were the issues?

The High Court was to decide whether to grant permission to the appellant to withdraw the Tax Case Appeal. The appellant, through its counsel, sought permission to withdraw the appeal. The revenue was represented by its counsel, but no specific arguments were recorded in the judgment regarding opposition to the withdrawal. The core issue was the appellant's request to withdraw the appeal filed against the ITAT's order.

Which sections of the Income-tax Act were involved?

Section 260A

AI-generated summary — verify with the full judgment below

TCA.No.531 of 2021 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 26.04.2022 CORAM : THE HON'BLE MR. JUSTICE R. MAHADEVAN AND THE HON'BLE MR. JUSTICE J. SATHYA NARAYANA PRASAD T.C.A.No.531 of 2021 M/s. Tamil Nadu Mercantile Bank Ltd, Head Office:57, V.E.Road, Tuticorin, Tamil Nadu. PAN: AAACT 5558K ... Appellant Versus The Assistant Commissioner of Income Tax, Circle - 1, Tuticorin. .. Respondent Prayer : Tax Case Appeal preferred under Section 260A of Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal Chennai 'A' Bench in I.T.A.No.864/Chny/2019 dated 30.07.2021 for the Assessment Year 2012-13. For Appellant : Mr.R.Sidhar For Respondent : Mr. M. Swaminathan, SSC Ms.V. Pushpa, JSC Page 1/4 https://www.mhc.tn.gov.in/judis TCA.No.531 of 2021 JUDGMENT (Judgment of the court was delivered by R.MAHADEVAN, J.) This appeal has been filed against the order of the Income Tax Appellate Tribunal Chennai 'A' Bench in I.T.A.No.864/Chny/2019 dated 30.07.2021 for the assessment year 2012 - 13. 2.Today, this matter is listed under the caption “for withdrawal”. The learned counsel for the appellant also sought permission of this Court to withdraw this Tax Case Appeal and he has made an endorsement in the Appeal to that effect. 3. In view of the submission and endorsement made by the learned counsel for the appellant, the Tax Case Appeal is dismissed as withdrawn. No costs. (R.M.D., J.) (J.S.N.P., J.) 26.04.2022 gba/msr

Internet : Yes

Index : Yes / No Page 2/4 https://www.mhc.tn.gov.in/judis TCA.No.531 of 2021 To The Assistant Commissioner of Income Tax, Circle - 1, Tuticorin. Page 3/4 https://www.mhc.tn.gov.in/judis TCA.No.531 of 2021 R.MAHADEVAN, J. and J.SATHYA NARAYANA PRASAD, J. gba/msr T.C.A.No.531 of 2021 26.04.2022 Page 4/4 https://www.mhc.tn.gov.in/judis

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