K. Padma v. Asst. Commissioner Of Income Tax Central Circle - 1 (2

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED : 15.06.2021 CORAM THE HON'BLE MR.JUSTICE M. DURAISWAMYANDTHE HON'BLE MRS.JUSTICE R. HEMALATHATax Case Appeal Nos.504 & 505 of 2015 K. Padma ... Appellant in both the TCAsv. Asst. Commissioner of Income TaxCentral Circle - 1 (2). Chennai - 600 034. ... Respondent in both the TCAs COMMON PRAYER: Tax Case Appeals filed under Section 260A of theIncome Tax Act, 1961 against the orders of the Income TaxAppellate Tribunal, Madras "A" Bench, dated 12.12.2013 passed inI.T.A.Nos.1998 & 1999/Mds/2012. Against the order of thecommissioner of Income Tax(A)-I, Chennai-34 dated 14.08.2012 inITA No. 79 and 80/11-12 for the Assessment year 2004-05 2008-09against the proceedings of the Assistant commissioner of IncomeTax,Centralcircle-II(2),Chennai-34inPAN:AACPP2749R/Penalty/2004-052008-09,dated30.06.2011respectively. For Respondent in both the TCAs : Mrs.V. Pushpa Senior Counsel (Delivered by M.DURAISWAMY, J.) These appeals are filed by the assessee under Section260A of the Income Tax Act, 1961 ('the Act' for brevity), aredirected against the order dated 12.12.2013 passed by theIncome Tax Appellate Tribunal, Madras "A" Bench, ('the Tribunal'for brevity) in I.T.A.Nos.1998 & 1999/Mds/2012 for theassessment years 2004-2005 and 2008-2009. 2. The appeal was admitted on the following substantialquestions of law:- https://hcservices.ecourts.gov.in/hcservices/ " Whether on the facts and in the circumstancesof the case, the Tribunal is right in restoring thepenalty under Sec.271(1) (c ), when the swornstatements recorded clearly show that the income wasearned by the appellant's father and invested in thename of the appellant? 2. Whether on the facts and in the circumstancesof the case, the Tribunal is right in restoring thepenalty under S.271(1) (c ), when the additions hadbeen made only on the basis of the offer made by theappellant's father in good faith and to avoidlitigation? 3. Whether Explanation 5A to Sec.271(1) (c ) isapplicable to a situation where there was no findingby the Department that the assessee was the owner ofany money bullion, jewellery or valuable investmentetc., not disclosed to the department; but additionswere made only on the basis of offer by theassessee's father?” 3. We have heard Mrs.Sri Niranjani, learned counselfor the appellant/assessee and Mrs.V.Pushpa, learnedSenior Counsel for the respondent/Revenue. 4. 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. 5. We are informed by the learned counsel for the appellant/assessee that the assessee had already been issued with Form-3on 10.12.2020 and the learned counsel for the appellant seekspermission of this Court to withdraw the appeal. 6. In view of the submission made by the learned counsel forthe appellant, the Tax Case Appeal stands dismissed aswithdrawn. No costs. Consequently, connected miscellaneouspetitions are closed. Sd/- Assistant Registrar //True Copy// Sub Assistant Registrar To 1. The Registrar Income Tax Appellate Tribunal, Madras "A" Bench 2. The Commissioner of Income Tax (Appeals)-I,46, Mahatma Gandhi Road, Nungambakkam,Chennai-60034.3.Asst. Commissioner of Income Tax Central Circle - 1 (2). Chennai - 600 034.+1cc to M/s.S.Sriniranjani, Advocate, S.R.No.27923+1cc to Mr.M.Swaminathan, Advocate, S.R.No.27819Tax Case Appeal Nos.504 & 505 of 2015 PPA(CO)SB(14/07/2021)