Commissioner Of Income Taxchennai v. Icici Bank Ltd.(Erstwhile Bank Of Madura Ltd.)192, Anna Salaichennai – 600 002

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 13.12.2021 CORAM : THE HON'BLE MR. JUSTICE R. MAHADEVANAND THE HON'BLE MR. JUSTICE MOHAMMED SHAFFIQ Tax Case Appeal No.877 of 2009 Commissioner of Income TaxChennai....Appellant/Appellant Vs. ICICI Bank Ltd.(Erstwhile Bank of Madura Ltd.)192, Anna SalaiChennai – 600 002....Respondent/Respondent Tax Case Appeal filed under Section 260A of the IncomeTax Act, 1961 against the order of the Income Tax AppellateTribunal, Madras “A” Bench, Chennai dated 18.03.2009 passed inI.T.A.No.596/Mds/2005 and against the O/o Commissioner ofIncome Tax (Appeals)-VIII, 121, Mahatma Gandhi Road,Chennai-34 and made in I.T.A.TR.No.133/2004-05 dated15/10/2004 and against the O/o the Assistant Commissioner ofIncome Tax, Company Circle I(2), Chennai and made in PA/GIRNo.BX2-001/AAACB2929E dated 31/03/2004 for the Assessment year2001-2002. For Appellant : Mr. T.RavikumarSenior Standing CounselFor Respondent : Mr.R.Vijayakumar This Tax Case Appeal has been filed by the appellant /Revenue challenging the order dated 18.03.2009 passed by theIncome Tax Appellate Tribunal, Bench 'A', Chennai ('theTribunal', for brevity) in I.T.A. No. 596/Mds/2005 for theAssessment Year 2001-02. 2.The above appeal was admitted on 08.09.2009 on thefollowing substantial questions of law :- “1.Whether on the facts and circumstances ofthe case, the Tribunal was right in holding thathttps://hcservices.ecourts.gov.in/hcservices/the entire claim of bad debt of the assessee ought to be ought to be allowed?2.Whether in the facts and circumstances ofthe case, the Tribunal was right in grantingdeduction in respect of bad debts both undersection 36(10(vii) and (viia) simultaneously?” 3.When the matter was taken up for consideration, thelearned counsel appearing for the respondent / assesseesubmitted that during the pendency of this tax case appeal,the assessee has filed the requisite Forms 1 and 2 underSection 4 of the Direct Tax Vivad Se Vishwas Act, 2020, whichwere accepted and Form 3 was issued to the assessee on19.01.2021 by the Income Tax Department. The learned counselhas also filed a copy of Form-3 dated 19.01.2021 to thateffect. 4.The aforesaid submission made by the learned counselfor the respondent /assessee has also been fairly conceded bythe learned senior standing counsel appearing for theappellant /Revenue. 5.This court heard the submissions made by the learnedcounsel on either side, as per which, the assessee has alreadyavailed the benefit conferred under the beneficial legislationviz., the Direct Tax Vivad Se Vishwas Act, 2020, enacted forresolution of disputed tax and for matters connected therewithor incidental thereto, which came into force with effect from17.03.2020; and the declarations submitted by the assesseewere also accepted and Form 3 was also issued to them by theIncome Tax Department. In view of such development, it isunnecessary for this court to decide the substantial questionof law arisen in this tax case appeal. 6.Therefore, recording the submissions so made by thelearned counsel on either side, this appeal stands disposedof, directing the department to process the application inaccordance with the Act and communicate the decision to theassessee at the earliest. No costs. //True Copy// Assistant Registrar (CCC) Sub Assistant Registrar Maya To 1.The Income Tax Appellate Tribunal,https://hcservices.ecourts.gov.in/hcservices/ Madras “A” Bench, Chennai.https://hcservices.ecourts.gov.in/hcservices/ Madras “A” Bench, Chennai. 2.The Commissioner of Income Tax, (Appeals) VIII, Chennai-34. 3.The Assistant Commissioner of Income Tax, Company Circle-I(2), Company Circle-I(2), Chennai. +1cc to Mr.Subbaraya Aiyar Padmanabhan, Advocate SR. No.66508 +1cc to Mr.T.Ravikumar, Senior Standing Counsel SR. No.66433 RR (CO)PR (03/01/2022) T.C.A. No.877 of 2009