M/S Tamilnadu Steel Tubes Ltd v. The Assistant Commissioner

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 23.12.2021 CORAM :

THE HONOURABLE MR.JUSTICE R. MAHADEVAN AND THE HONOURABLE MR.JUSTICE MOHAMMED SHAFFIQ Tax Case Appeal No.1303 of 2009 M/s. Tamilnadu Steel Tubes Ltd., Hindustan Chamber Buildinng (IV Floor) 15, Kondi Chetty Street Chennai - 600 001 ...Appellant

Versus

The Assistant Commissioner of Income-tax Central Circle IV (2) 121, Nungambakkam High Road 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 "C" Bench, Chennai dated 12.10.2007 passed in I.T.A No.1161(Mds)/2005 against the Order of the Commissioner of Income Tax (Appeals)-I, Chennai-34 dated 11.03.2005 in ITA No.192/2002-03, G.I.No./P.A.No.48-T for the Assesment year 19971998 against the order of the Deputy Commissioner of Income Tax Company Circle-II(2), Chennai-34 in P.A.No./G.I.No.48-T for the Assesment Year 1997-1998.

For Appellant : Mr.P.R.Shankar For Respondent : Mr.M.Swaminathan Senior Standing Counsel

J U D G M E N T

(Judgment of the Court was delivered by R. MAHADEVAN, J.) This Tax Case Appeal has been filed by the appellant / Assessee challenging the order dated 12.10.2007 passed by the Income Tax Appellate Tribunal, Bench 'C', Chennai ('the Tribunal', for brevity) in I.T.(SS) No.1161(Mds)/2005 for the Assessment Year 1997-1998 by raising the following substantial question of law :

"Whether on the facts and in the circumstances of the case the Tribunal is right in law in confirming the disallowance of the depreciation on the rolls claimed by the Appellant?"

2.When the matter was taken up for consideration, the learned counsel appearing for the appellant / 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, was also issued by the Income tax department, on 05.10.2021. The learned counsel has also filed Form 5 dated 05.10.2021 to that effect.

3.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.

4.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.

Sd/- Assistant Registrar(CS-IX) // True Copy // Sub Assistant Registrar dhk To 1.The Income Tax Appellate Tribunal, Madras "C" Bench 2.The Assistant Commissioner of Income-tax Central Circle IV (2) 121, Nungambakkam High Road Chennai - 600 034.

3.The Commissioner of Income Tax, Appeals-I, Chennai-34.

4.The Deputy Commissioner of Income Tax, Company Circle-II(2), Chennai-34.

+1cc to Mr.P.R.Shankar, Advocate Sr.No.69284 T.C.A No.1303 of 2009 SMI(CO) RVM(20/01/2022)