M/S. Tube Investments Of India Limited'dare House' v. The Deputy Commissioner Of Income Taxlarge Taxpayer Unitchennai - 600 101

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 07.12.2021 CORAM : THE HON'BLE MR.JUSTICE R. MAHADEVANANDTHE HON'BLE MR.JUSTICE MOHAMMED SHAFFIQ Tax Case Appeal No.90 of 2012 M/s. Tube Investments of India Limited'Dare House'No.234, N.S.C. Bose RoadChennai - 600 001 ..Appellant Versus The Deputy Commissioner of Income TaxLarge Taxpayer UnitChennai - 600 101 ..Respondent Tax Case Appeal filed under Section 260A of the Income TaxAct, 1961 against the order dated 09.09.2011 passed in ITANo.1757/Mds/2010 on the file of Income Tax Appellate Tribunal,Chennai 'D' Bench against the order of the Commissioner ofIncome Tax Large Tax Payer (Appeals) 1775, Jawaharlal NehruInner Ring Road, Anna Nagar, Western Extension, Chennai –600 101dated 19.08.2010 made in ITA.No.12/9-10/LTU(A) PAN.AAACT1249Hfor the Assessment year 1998-99 and against the order of theCommissioner of Income Tax (Appeals) VIII, 121, Mahatma GandhiRoad, Chennai–600 0034 dated 30.03.2007 ITA.No.139/2006-07/Tr.16/A.VIII, PAN. for the Assessment year 1998-99 andagainst the order of the Assistant Commissioner of Income Tax,Company Circle III (2), Chennai–34 dated 28.03.2006PAN.No.(GIR.No.32001-T Ward/Circle Range Company Circle -III (2)Chennai–34 for the Assessment year 1998-99. For Appellant : Mr. K. VaitheeswaranFor Respondent : Mr. T. RavikumarSenior Standing Counsel J U D G M E N T (Judgment of the Court was delivered by R. MAHADEVAN, J) This Tax Case Appeal has been filed by the appellant /Revenue challenging the order dated 09.09.2011 passed by theIncome Tax Appellate Tribunal, Bench 'D', Chennai ('theTribunal', for brevity) in I.T.A.No.1757/mds/2010 for theAssessment Year 1998-1999. 2. The above appeal was admitted on 03.04.2012 on thefollowing substantial questions of law : “1.Whether the Tribunal erred in law in holdingthat the penalty order dated 17.06.2009 passed by theAssessing Officer under Section 271 (1) (c) was nothit by the proviso to Section 275 (1) (a) of the Actand was within limitation as prescribed in the saidsection? 2. Whether on the facts and circumstances ofthe case, the Tribunal erred in law in holding that,satisfaction, as required for initiating penaltyproceedings under Section 271 (1) (c) of the Act wasrecorded by the assessing officer in the assessmentorder? 3. When the appeal is taken up for consideration, thelearned counsel appearing for the appellant/assessee submittedthat during the pendency of this tax case appeal, the assesseehas filed the requisite Forms 1 and 2 under Section 4 of theDirect Tax Vivad Se Vishwas Act, 2020, which were accepted andForm 3 was issued to the assessee on 30.08.2021 by the IncomeTax Department. The learned counsel has also filed a memo tothat effect. The aforesaid submission made by the learnedcounsel for the appellant/assessee has also been fairly concededby the learned Senior Standing Counsel appearing for therespondent/Revenue. 4. 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 assessee werealso accepted and Form 3 was also issued to them by the IncomeTax Department. In view of such development, it is unnecessaryfor this court to decide the substantial questions of law arisenin this tax case appeal. 5. Therefore, recording the submissions so made by thelearned counsel on either side, this appeal stands disposed of, https://hcservices.ecourts.gov.in/hcservices/ directing the department to process the application at theearliest in accordance with the Act and communicate the decisionto the assessee at the earliest. No costs. 5. Therefore, recording the submissions so made by thelearned counsel on either side, this appeal stands disposed of, https://hcservices.ecourts.gov.in/hcservices/ directing the department to process the application at theearliest in accordance with the Act and communicate the decisionto the assessee at the earliest. No costs. Sd/- Assistant Registrar(CS III)//True Copy// Sub Assistant Registrar rsh To1. The Income Tax Appellate Tribunal, Madras “D” Bench 2. The Deputy Commissioner of Income Tax Large Taxpayer Unit Chennai - 600 1013. The Assistant Commissioner of Income Tax, Company Circle III (2), Chennai – 34. AD(CO)RGA(05/01/2022) TCA No. 90 of 2012