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 DATED : 23.02.2021 CORAM THE HON'BLE MR.JUSTICE M. DURAISWAMYANDTHE HON'BLE MRS.JUSTICE T.V. THAMILSELVI Tax Case Appeal No.396 of 2013 Commissioner of Income TaxChennai. ... 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 IncomeTax Act, 1961 against the order of the Income Tax AppellateTribunal, Madras "B" Bench, dated 20.11.2012 passed inI.T.A.No.1747/Mds/2012 as against the order of theCommissioner of Income Tax Appeals V,121,Mahatma Gandhi road,chennai 34 dated 27.06.2012 and made in PNA.NO.AAACS 445I for Assessment Year 2002-2003 and against the commissioner ofIncome Tax company Circle-IV,7[th] floor,New Block Room No.705,121,Mahatma Gandhi Road, chennai 34 dated 09.11.2011 and madein PNA.NO.AAACS 445I for the Assessment Year 2001-2002. For Appellant : Mr.J.Narayanaswamy Senior Standing Counsel For Respondent : Mr.R.Venkata Narayanan J U D G M E N T (Delivered by M.DURAISWAMY, J.) This appeal filed by the Revenue under Section 260A ofthe Income Tax Act, 1961 ('the Act' for brevity), is directedagainst the order dated 20.11.2012 passed by the Income TaxAppellate Tribunal, Madras "B" Bench, ('the Tribunal' forbrevity) in I.T.A.No.1747/Mds/2012 for the assessment year2002-2003. The above appeal has been admitted on 19.08.2013 onthe following Substantial Question of Law: https://hcservices.ecourts.gov.in/hcservices/ “Whether on the facts and circumstances of thecase, the Tribunal was right in holding that the sumof Rs.2899.68 lakhs transferred by the assessee toits general reserve on amalgamation is not taxableunder Section 28(iv) of the Income Tax Act?” 2. We have heard Mr.J.Narayanaswamy, learned SeniorStanding Counsel for the appellant/Revenue and Mr.R.VenkataNarayanan, learned counsel for the respondent/assessee. 3. It may not be necessary for this Court to decide theSubstantial Question of Law framed for consideration onaccount of certain subsequent developments. The Government ofIndia enacted the Direct Tax Vivad Se Vishwas Act, 2020 (Act 3of 2020) to provide for resolution of disputed tax and formatters connected therewith or incidental thereto. The Act ofthe Parliament received the assent of the President on 17[th]March 2020 and published in the Gazette of India on 17[th] March2020. 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 withForm–3 on 09.02.2021. 5.Since the respondent/assessee had been issued withForm-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.No costs. Sd/- Assistant Registrar(CS) Sub Assistant Registrar //True Copy// mkn 1.The Income Tax Appellate Tribunal, Madras "B" Bench. 2.The Commissioner of Income Tax Chennai. 3.The Commissioner of Income Tax Appeals V,121,Mahatma Gandhi road, chennai 34. 4.The Commissioner of Income Tax Appeals V,121,Mahatma Gandhi road, chennai 34 +1cc to Mr.Subbraa Aiyar, Advocate SR.No. 11089Tax Case Appeal No.396 of 2013 A.SK(08.04.2021) https://hcservices.ecourts.gov.in/hcservices/