M/S.dugar Housing Development Finance India Limited (Formerly Known As M/S.j.paq Solutions Ltd.), Chennai-8 v. The Assistant Commissioner Of Income Tax, Company Circle Ii(3), Chennai-34

In the High Court of Judicature at Madras Dated : 25.7.2019 Coram : The Honourable Mr.Justice T.S.SIVAGNANAM and The Honourable Mrs.Justice V.BHAVANI SUBBAROYAN Tax Case Appeal No.252 of 2016 M/s.Dugar Housing DevelopmentFinance India Limited (formerlyknown as M/s.J.Paq SolutionsLtd.), Chennai-8 ...Appellant/Appellant VsThe Assistant Commissioner of IncomeTax, Company Circle II(3), Chennai-34...Respondent/RespondentPrayer: APPEAL filed under Section 260A of the Income Tax Act, 1961to set aside the order dated 22.3.2012 made in ITA.No.2208/(Mds)/2007 on the file of the Income Tax Appellate Tribunal,Chennai 'A' Bench for the assessment year 1999-2000, andpreferred against the order of the Commissioner of Income Tax(Appeals-XII), Chennai-34, dated 18.06.2007, made inITA.No.141/05-06, for the assessment year 1999-2000 and againstthe order of the Assistant commissioner of Income Tax, CompanycircleII(3),Chennai-34dt.31.03.2005,madeinGI.No./I.A.No.608/J/AAACJ9857B, for the assessment year 1999-2000. Judgment was delivered by T.S.Sivagnanam,JWe have heard Mr.V.S.Jayakumar, learned counsel for theappellant and Mr.Karthik Ranganathan, learned Senior StandingCounsel for the Revenue. 2. This appeal, filed by the assessee, under Section 260A ofthe Income Tax Act, 1961 (for short, the Act), is directedagainst the order dated 22.3.2012 made in ITA.No.2208/(Mds)/2007on the file of the Income Tax Appellate Tribunal, Chennai 'A'Bench for the assessment year 1999-2000. https://hcservices.ecourts.gov.in/hcservices/ 3. The appeal was admitted on 05.4.2016 on the followingsubstantial questions of law :“(i) Whether the Tribunal was right inholding that the amount claimed by theassessee in respect of interest charged tothe profit and loss account in its entiretyis not allowable in view of interpretationof Section 145 of the Income Tax Act, 1961 ?(ii) Whether the Tribunal was right inholding that the method of accountingemployed by the assessee was inconsistentwith past assessment year wise or projectwise ? and(iii) Whether the Tribunal was right inholding that the change in method ofaccounting made by the appellant was notacceptable and so the interest expenditurecannot be allowed as a period cost and thesame is not legally sustainable ?”4. Learned counsel for the appellant has given a letter dated20.6.2019 to the Registry seeking to post this matter forwithdrawal. Hence, the matter is listed today under the caption'for withdrawal'. Today, when the case is called, a similarrequest is made. An endorsement is also made in the bundle tothat effect. 5. Hence, the above tax case appeal is dismissed aswithdrawn. The substantial questions of law are left open. Nocosts. Sd/- Assistant Registrar(Insp.Cell)//True Copy// Sub Assistant Registrar To https://hcservices.ecourts.gov.in/hcservices/