Commissioner Of Income Tax, Chennai v. M/S.spencer And Company Ltd., Spencer Plaza, 769, Anna Salai, Chennai – 600 032

IN THE HIGH COURT OF JUDICATURE AT MADRAS THE HON'BLE MR.JUSTICE M. DURAISWAMYANDTHE HON'BLE MRS.JUSTICE T.V. THAMILSELVI Commissioner of Income Tax,Chennai. ...AppellantVs. M/s.Spencer and Company Ltd.,Spencer Plaza,769, Anna Salai,Chennai – 600 032. ...Respondent Tax Case Appeal filed under Section 260A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, Chennai "B" Bench, dated 20.04.2012 passed inI.T.A.No.440/Mds/2011 against the order of the Commissioner ofIncome Tax, Chennai III, Chennai dated 10.02.2011 C.No.3033/III/2/2010-2011 PAN. assessed by ACIT CompanyCircle VI(4), Chennai for the Assessment year 2002-2003. For Appellant : Mr.J.Narayanaswamy Senior Standing CounselFor Respondent : Mr.R.Venkata Narayanan for M/s.Subbaraya Aiyar This appeal filed by the Revenue under Section 260A of theIncome Tax Act, 1961 ('the Act' for brevity), is directedagainst the order dated 20.04.2012 passed by the Income TaxAppellate Tribunal, Chennai "B" Bench, ('the Tribunal' forbrevity) in I.T.A.No.440/Mds/2011 for the assessment year 2002-03. The above appeal has been admitted on 04.01.2013 on thefollowing Substantial Questions of Law: https://hcservices.ecourts.gov.in/hcservices/ "1.Whether on the facts and in thecircumstances of the case, the Income TaxAppellate Tribunal was right in holding that thesum of Rs.2899.68 lakhs transferred by theassessee to its general reserve on amalgamation isnot taxable under Section 28(iv) of the Income TaxAct, 1961 ?2. Whether on the facts and in thecircumstances of the case, the Income TaxAppellate Tribunal was right in cancelling theorder of the Commissioner of Income Tax underSection 263 of the Act ?” 2. We have heard Mr.J.Narayanaswamy, learned Senior StandingCounsel for the appellant/Revenue and Mr.R.Venkata Narayanan forM/s.SubbarayaAiyar,learnedcounselfortherespondent/assessee. 3. It may not be necessary for this Court to decide theSubstantial Questions of Law framed for consideration on accountof certain subsequent developments. The Government of Indiaenacted the Direct Tax Vivad Se Vishwas Act, 2020 (Act 3 of2020) to provide for resolution of disputed tax and for mattersconnected therewith or incidental thereto. The Act of theParliament received the assent of the President on 17[th] March2020 and published in the Gazette of India on 17[th] March 2020. 4.Learned counsel for the respondent/assessee submittedthat the assessee had availed the Vivad Se Vishwas Scheme andthat the respondent/assessee had already been issued with Form–3 on 09.02.2021. 5.Since the respondent/assessee had been issued with Form-3,nothing survives for adjudication in the above appeal.Recording the submission made by the learned counsel for therespondent/assessee, the Tax Case Appeal stands disposed of. Nocosts. -s/d- Assistant Registrar(CS-IV) True Copy mkn Sub-Assistant Registrar To 1. Income Tax Appellate Tribunal, Chennai "B" Bench 2. The Commissioner of Income Tax, Chennai. Chennai. 3. The Additional Commissioner of Income Tax Chennai Chennai +1 Cc to M/s. Subbaraya Aiyar, Advocate sr 11602. Tax Case Appeal No.474 of 2012 AD(CO)SP(16/03/2021)