THE COMMISSIONER OF vs. M/S. A.V. THOMAS LEATHERS

T.C.A.Nos.755 of 2016 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 11.08.2022 CORAM : THE HONOURABLE MR. JUSTICE R. MAHADEVAN and THE HONOURABLE MR. JUSTICE J.SATHYA NARAYANA PRASAD T.C.A.Nos.755 of 2016 Commissioner of Income Tax, Chennai. ... Appellant

Versus M/s. A.V.Thomas Leathers and allied Products Ltd., 22, Marshalls Road, Egmore, Chennai - 600 008. PAN: AAACA 6246K ... Respondent

Appeal preferred under Section 260A of the Income Tax Act, 1961, against the order dated 05.02.2016 passed by the Income Tax Appellate Tribunal, “A” Bench, Chennai, in I.T.A.No.2067/Mds/2015. For Appellant : Mr.T.Ravikumar Senior Standing Counsel For Respondent : R.Sivaraman Page 1/4 https://www.mhc.tn.gov.in/judis T.C.A.Nos.755 of 2016 JUDGMENT (Judgment of this Court was delivered by R.MAHADEVAN, J.) This tax case appeal has been filed by the appellant / Revenue, challenging the order dated 05.02.2016 passed by the Income Tax Appellate Tribunal, Chennai 'A' Bench, in I.T.A.No.2067/Mds/2015, relating to the assessment year 2012-2013. 2.By order dated 26.10.2016, this court admitted the aforesaid tax case appeal on the following substantial question of law: "Whether on the facts and in the circumstances of the case, the Tribunal was correct in holding that the receipts on sale of agricultural land has to be reduced from the book profits for the purpose of computing income under section 115JB of the Income tax Act?" 3.When the matter was taken up for consideration, the learned counsel appearing for the respondent / assessee submitted that during the pendency of this tax case appeal, the assessee has availed the benefit conferred under the Direct Tax Vivad Se Vishwas Act, 2020 and filed necessary declarations, which were accepted and Form 5 / order for full and final settlement of tax arrears, Page 2/4 https://www.mhc.tn.gov.in/judis T.C.A.Nos.755 of 2016 was also issued by the Income tax department, on 16.03.2021. 4.The aforesaid submission made by the learned counsel for the respondent/assessee has also been fairly conceded by the learned standing counsel appearing for the appellant/ Revenue. 5.In view of the subsequent development, this court is of the opinion that nothing survives for adjudication in this appeal. Recording the submission so made by the learned counsel on either side, the Tax Case Appeal stands disposed of. No costs. [R.M.D., J.] [J.S.N.P., J.] 11.08.2022

Internet : Yes

Index : Yes / No av To 1. The Income Tax Appellate Tribunal, “A” Bench, Chennai. 2. The Commissioner of Income Tax, Chennai. 3. The Deputy Commissioner of Income Tax, Corporate Circle 1(1), Chennai-34. Page 3/4 https://www.mhc.tn.gov.in/judis T.C.A.Nos.755 of 2016 4. The Commissioner of Income Tax (Appeals)-1, Chennai.

R. MAHADEVAN,

and J.SATHYA NARAYANA PRASAD

, J.

av T.C.A.No.775 of 2016 11.08.2022 Page 4/4 https://www.mhc.tn.gov.in/judis