In Both Appeals v. The Assistant Commissioner Of Income Tax, Company Circle-I(3), Chennai

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 30.04.2021 CORAM THE HON'BLE MR.JUSTICE M. DURAISWAMYANDTHE HON'BLE MRS.JUSTICE R. HEMALATHA Tax Case Appeal Nos.171 and 172 of 2013 Dr. M A M Ramaswamy,Chettinad House,Raja Annamalaipuram,Chennai – 600 028. ... Appellant in both appealsVs. The Assistant Commissioner of Income Tax,Company Circle-I(3),Chennai. ... Respondentin both appeals Tax Case Appeals in T.C.A.Nos.171 and 172 of 2013 filedunder Section 260A of the Income Tax Act, 1961 against the orderof the Income Tax Appellate Tribunal, Chennai "B" Bench, dated18.09.2012 passed in I.T.A.Nos.1991/Mds/2010 and 1992/Mds/2010respectively. against the appellate order passed by the Commissioner ofIncome Tax (A)-III dated 28/09/2010 made in ITA No.291/07-08/A-III, for the Assessment Year 2005-2006, against the Assessmentorder passed by the Additional Commissioner of Income TaxCompany Range-1, Chennai, dated 29/11/2007 made in CL NO./PANo.AAJPR4449M/3783R for the Assessment Year 2005-2006. against the appellate order passed by the Commissioner ofIncome Tax (A)-III, Chennai, dated 29/09/2010 made in ITANo.596/09-10/A-III for the Assessment Year 2006-07 and againstthe Assessment order passed by the Assistant Commissioner ofIncome Tax Company Circle -I(3), Chennai-34, dated 31/12/2009made in GIR/PAN. for the Assessment Year 2006-2007 https://hcservices.ecourts.gov.in/hcservices/ C O M M O N J U D G M E N T(Delivered by M.DURAISWAMY, J.) The above appeals filed by the assessee under Section 260Aof the Income Tax Act, 1961 ('the Act' for brevity), aredirected against the order dated 18.09.2012 passed by the IncomeTax Appellate Tribunal, Chennai "B" Bench, ('the Tribunal' forbrevity) in I.T.A.Nos.1991/Mds/2010 and 1992/Mds/2010 for theassessment years 2005-06 and 2006-07 respectively. The aboveappeals were admitted on 19.04.2013 on the following substantialquestions of law : 2.Whether the Appellate Tribunal is correct inlaw in rejecting the claim of deduction under Section80IB(10) of the Act comprised of the profits earnedfrom the sale of eligible flats constructed in thehousing project even after overruling impliedly theother findings of the respondent relating to thefurther conditions prescribed in the said section?” 2. We have heard Mr.M.Kaushik for Mr.S.Sridhar, learnedcounsel for the appellant/ assessee and Mr.T.R.Senthil Kumar,learned Senior Standing Counsel and Mrs.K.G.Usha Rani, learnedStanding Counsel for the respondent/Revenue. 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 of https://hcservices.ecourts.gov.in/hcservices/ 2020) 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. We are informed by the learned counsel for the appellant/assessee that the assessee had already been issued with Form-3on 04.03.2021 and the learned counsel for the appellant seekspermission of this Court to withdraw the above appeals. 5. In view of the submission made by the learned counsel forthe appellant/assessee, the above Tax Case Appeals standdismissed as withdrawn. No costs. Sd/- Assistant Registrar(CCC) //True Copy// Sub Assistant RegistrarmknTo 1. The Income Tax Appellate Tribunal, Chennai "B" Bench, Chennai. 2.The Assistant Commissioner of Income Tax, Company Circle-I(3), Chennai.3.The Commissioner of Income Tax (A)-III, Chennai. 4.The Additional Commissioner of Income Tax, Company Range-1, Chennai. +1cc to Mr.T.R.Senthilkumar, Advocate Sr.26520 T.C.A. Nos.171 and 172 of 2013 ev[co]srg 09/07/2021 https://hcservices.ecourts.gov.in/hcservices/