M/S.caplin Point Laboratories Ltd v. The Deputy Commissioner Of Income-Tax, Company Circle-(3), Tambaram, Chennai – 600 045

IN THE HIGH COURT OF JUDICATURE AT MADRAS CORAM THE HON'BLE MR.JUSTICE M.DURAISWAMY M/s.Caplin Point Laboratories Ltd.,No.86, Bazullah Road,T.Nagar,Chennai – 600 017. ...AppellantVs. The Deputy Commissioner of Income-Tax,Company Circle-(3),Tambaram,Chennai – 600 045. ...Respondent Appeal filed under section 260A of the Income Tax Act, 1961against the order of the Income Tax Appellate Tribunal, Madras“D” Bench dated 30.07.2012 passed in I.T.A.No.222/Mds/2003against the order of the Commissioner of Income Tax(Appeals)-III, Chennai in ITA.No.35/2002-2003 dated 14.11.2002against the order of the Deputy Commissioner of Income Tax,Central Circle (3), Chennai-34 for the Assessment Year 1995-1996dated 31.03.1995. J U D G M E N T(Delivered by M.DURAISWAMY, J.) This appeal filed by the assessee under Section 260A of theIncome Tax Act, 1961 ('the Act' for brevity), is directedagainst the order dated 30.07.2012 passed by the Income TaxAppellate Tribunal, Madras "D" Bench, ('the Tribunal' forbrevity) in I.T.A.No.222/Mds/2003 for the Assessment Year 1995-96. The above appeal has been admitted on 26.02.2013 on the https://hcservices.ecourts.gov.in/hcservices/ following Substantial Question of Law: "Whether on the facts and in the circumstancesof the case, the Income Tax Appellate Tribunal isright in law in holding that the interest income fromshare application money is assessable as 'income fromother sources' and not as 'income from business',eligible for deduction u/s.80HH and 80I of the IncomeTax Act, as claimed?” 2. We have heard Ms.Sri Niranjani Srinivasan, learnedcounsel for the appellant/assessee and Mr.T.Ravi Kumar, learnedSenior Standing Counsel for the respondent/Revenue. 3. It may not be necessary for this Court to decide theSubstantial Question 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. 4. We are informed by the learned counsel for the appellant/assessee that the assessee had already been issued with Form-3on 12.02.2021 and the learned counsel for the appellant seekspermission of this Court to withdraw the appeal. 5. In view of the submission made by the learned counsel forthe appellant, the Tax Case Appeal stands dismissed aswithdrawn. No costs. Sd/- Assistant Registrar //True Copy// mkn Sub Assistant Registrar To 1. The Registrar, Income Tax Appellate Tribunal, Madras "D" Bench 2. The Deputy Commissioner of Income-Tax, Company Circle-(3), Tambaram, Chennai – 600 045. 3. The Commissioner of Income Tax (A)-III Chennai. +1cc to Mr.T.Ravikumar, Advocate, S.R.No.30327 +1cc to M/s.G.Baskar, Advocate, S.R.No.30018 PPA(CO)RGA(20/07/2021) Tax Case Appeal No.15 of 2013 30.06.2021