Legal Heirs Of Late P.k.mohammed v. The Assistant Commissioner Of Income Tax, Non-Corporate Circle 7(1

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED: 15.02.2021 CORAM : The Honourable Mr.Justice T.S.SIVAGNANAMandThe Honourable Ms.Justice R.N.MANJULA Tax Case Appeal No.241 of 2020 1. Smt.Nafeesa Beevi2. Ms.Saleena Basheer3. Ms.Sajeena Legal heirs of late P.K.Mohammed...AppellantsVs The Assistant Commissioner of Income Tax,Non-Corporate Circle 7(1), Chennai - 600 034....Respondent APPEAL under Section 260A of the Income Tax Act, 1961 againstthe order dated 30.05.2019 made in ITA.No.3169/Chny/2018 on thefile of the Income Tax Appellate Tribunal, 'C' Bench, Chennaifor the assessment year 2013-14. Appeal filed against the orderdated 23.08.2018 made in ITA.No.121/CIT(A)-7/16-17 on the fileof the Commissioner of Income Tax(Appeals)-7, Chennai-34 for theassessment year 2013-14 against the order dated 31.03.2016 madein PAN/GIR No. made in Assistant Commissioner ofIncome Tax Non-Corporate Circle 7(1), Chennai for the assessmentyear 2013-14. For Appellants:Mr.V.S.Jayakumar For Respondent:Mr.R.Karthik Ranganathan Senior Standing Counsel This appeal filed under Section 260A of the Income TaxAct, 1961 ('the Act' for brevity) is directed against the orderdated 30.05.2019 made in ITA.No.3169/Chny/2018 on the file ofthe Income Tax Appellate Tribunal, 'C' Bench, Chennai ('theTribunal' for brevity) for the assessment year 2010-11. https://hcservices.ecourts.gov.in/hcservices/ 2. The appeal was admitted on 28.08.2020 on the followingsubstantial questions of law: "1. Whether, on the facts and in thecircumstances of the case, the Tribunal iscorrect in law in holding that the claim of theappellant that he is not liable to tax is notjustified? 2. Whether the Tribunal is right in law inholding that the profit arising on account ofsale of property is to be taxed as 'income fromprofits and gains' ignoring the earlier order ofthe CIT(A), who has held that the profit shouldbe considered under the head 'capital gain'? 3. Whether the Tribunal is correct in law inholding that the computation made by theappellant is not sustainable in law? and 4. Whether the order of the Tribunal isright in law and is perverse when it concludedthat the expenditure claimed is not to beallowed under the head 'income from profit andgains' and not considering the head of income'as capital gains' and allowing the expenses, inthe alternative?" 3. We have heard Mr.V.S.Jayakumar, learned counselappearing for the appellants/assessee and Mr.R.KarthikRanganathan, learned Senior Standing Counsel appearing for therespondent/Revenue. 4. The learned counsel for the appellants/assesseesubmits that the appellants have already filed thedeclaration/undertaking under the Vivad Se Vishwas Scheme on27.12.2020 and is awaiting orders to be passed in Form No.3. 5. In the light of the subsequent event, the CompetentAuthority shall process the application/declaration inaccordance with the Direct Tax Vivad Se Vishwas Act, 2020 (Act 3of 2020) and pass appropriate orders as expeditiously aspossible. The appellants are given liberty to restore thisappeal in the event the ultimate decision to be taken on thedeclaration filed by the assessee under Section 4 of the saidAct is not in favour of the assessee. If such a prayer is made,the Registry shall entertain the prayer without insisting uponany application to be filed for condonation of delay inrestoration of the appeal and on such request made by theassessee by filing a miscellaneous petition for restoration, theRegistry shall place such petition before the appropriateDivision Bench for orders. 6. The tax case appeal stands disposed of with theaforementioned liberty and consequently, the substantialquestions of law framed are left open. No costs. Sd/- Assistant Registrar(CS-VI) //True Copy// Sub Assistant Registrar hvk 6. The tax case appeal stands disposed of with theaforementioned liberty and consequently, the substantialquestions of law framed are left open. No costs. Sd/- Assistant Registrar(CS-VI) //True Copy// Sub Assistant Registrar hvk To1.The Income Tax Appellate Tribunal, 'C' Bench, Chennai.2.The Assistant Commissioner of Income Tax, Non-Corporate Circle 7(1), Chennai - 600 034.3.The Commissioner of Income-Tax(Appeals)-7 Nungambakkam, Chennai-34.+1cc to Mr.V.S.Jayakumar, Advocate SR.8628TCA.No.241 of 2020GMR(CO)CB(10/03/2021)