M/S ALSTOM T AND D INDIA LTD vs. ASSISTANT COMMISSIONER OF I

TCA.No.899 of 2019 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 07.12.2020 CORAM THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAM and THE HONOURABLE MRS.JUSTICE V.BHAVANI SUBBAROYAN Tax Case Appeal No.899 of 2019

M/s.Alstom T & D India Ltd., Chennai-43. (cause title substituted vide order of court dated 06.3.2014 in M.P.No.1 of 2014 by CVJ & TSSJ) ...Appellant Vs The Assistant Commissioner of Income Tax, Company Circle I(1), Chennai-34. ...Respondent APPEAL under Section 260A of the Income Tax Act, 1961 against the order dated 03.11.2008 passed by the Income Tax Appellate Tribunal, Madras 'A' Bench, Chennai made in I.T.A.No.2247/Mds/2005 for the assessment year 2002-03. For Appellant: Mr.M.P.Senthilkumar For Respondent: Mr.T.Ravikumar, SSC 1/4 http://www.judis.nic.in TCA.No.899 of 2019 Judgment was delivered by

T.S.SIVAGNANAM

This appeal has been filed by the assessee under Section 260A of the Income Tax Act, 1961 ('the Act' for brevity) challenging the order dated 03.11.2008 made in I.T.A.No.2247/Mds/2005 on the file of the Income Tax Appellate Tribunal, Chennai, 'A' Bench ('the Tribunal' for brevity) for the assessment year 2002-03. 2. The assessee filed this appeal by raising the following substantial questions of law : “i. Whether, on the facs and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that the provision for contract contingencies are unascertained liability and liable to be disallowed ? and ii. Whether, on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in following the decision of the Tribunal without appreciating the distinction of facts in respect of provision for contract contingencies ?” 3. We have heard Mr.M.P.Senthilkumar, learned counsel appearing for the appellant/assessee and Mr.T.Ravikumar, learned Senior Standing Counsel appearing for the respondent/Revenue. 2/4 http://www.judis.nic.in TCA.No.899 of 2019 4. The learned counsel on behalf of the appellant/assessee submits that the assessee already filed the declaration/undertaking under the Vivad Se Vishwas Scheme on 19.11.2020 and is awaiting orders to be passed in Form No.3. 5. In the light of the subsequent event, the Competent Authority shall process the application/declaration in accordance with the Direct Tax Vivad Se Vishwas Act, 2020 (Act 3 of 2020) and pass appropriate orders as expeditiously as possible. The assessee is given liberty to restore this appeal in the event the ultimate decision to be taken on the declaration to be 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 appropriate Division Bench for orders. 6. The tax case appeal stands disposed of with the aforementioned liberty. Consequently, the substantial questions of law raised are left open. No costs. 07.12.2020 3/4 http://www.judis.nic.in TCA.No.899 of 2019 T.S.SIVAGNANAM,J AND V.BHAVANI SUBBAROYAN,J RS

To 1.The Income Tax Appellate Tribunal, 'A' Bench, Chennai. 2.The Assistant Commissioner of Income Tax, Company Circle I(1), Chennai-34. TCA.No.899 of 2019 07.12.2020 4/4 http://www.judis.nic.in