M/S.i.p.rings Ltd.,Arjay Apex Centre v. The Deputy Commissioner Of Income Tax,Company Circle – Ii(3),Chennai – 600 034

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 26.04.2021 THE HON'BLE MR.JUSTICE M. DURAISWAMYANDTHE HON'BLE MRS.JUSTICE R. HEMALATHA Tax Case Appeal No.336 of 2012 M/s.I.P.Rings Ltd.,Arjay Apex Centre,No.24, College Road,Chennai – 600 006. ...Appellant/Respondent Vs. The Deputy Commissioner of Income Tax,Company Circle – II(3),Chennai – 600 034. ... Respondent/Appellant Tax Case Appeal filed under Section 260A of the IncomeTax Act, 1961 against the order of the Income Tax AppellateTribunal, Madras "C" Bench, dated 09.09.2011 passed inI.T.A.No.1546/Mds/2010. Preferred against the Order of the Commissioner of IncomeTax (Appeals)-III, Chennai dated 28.06.2010 in ITA.No. 180/07-08/A.III filed against the Assessment Order dated 17.09.2007on the file of the Assistant Commissioner of Income Tax,Company Circle II (3), Chennai. For Appellant : Mr.R.Venkata Narayanan for M/s.Subbaraya Aiyar Padmanabhan For Respondent : Mr.Karthik Ranganathan Senior Standing CounselJ U D G M E N T(Delivered by M.DURAISWAMY, J.) This appeal filed by the assessee under Section 260A ofthe Income Tax Act, 1961 ('the Act' for brevity), is directedagainst the order dated 09.09.2011 passed by the Income TaxAppellate Tribunal, Madras "C" Bench, ('the Tribunal' forbrevity) in I.T.A.No.1546/Mds/2010 for the assessment year2001-02. The above appeal has been admitted on 19.10.2012 onthe following Substantial Questions of Law: https://hcservices.ecourts.gov.in/hcservices/ in holding that the reopening of assessment isjustified and proper? 2.Whether on the facts and in thecircumstances of the case, the reopening ofassessment beyond four years from the end ofassessment year is not barred by limitation underproviso to Section 147 of the Act?3.Whether on the facts and in thecircumstances of the case, the reopening ofassessment on same set of facts would not amount tochange of opinion?” 2. We have heard Mr.R.Venkata Narayanan for M/s.SubbarayaAiyar Padmanabhan, learned counsel for the appellant/assesseeand Mr.Karthik Ranganathan, learned Senior Standing Counselfor the respondent/Revenue. 3. It may not be necessary for this Court to decide theSubstantial Questions of Law framed for consideration onaccount of certain subsequent developments. The Government ofIndia enacted the Direct Tax Vivad Se Vishwas Act, 2020 (Act 3of 2020) to provide for resolution of disputed tax and formatters connected therewith or incidental thereto. The Act ofthe Parliament received the assent of the President on 17[th]March 2020 and published in the Gazette of India on 17[th] March2020. 4. We are informed by the learned counsel for theappellant/ assessee that the assessee had already been issuedwith Form-3 on 20.04.2021 and the learned counsel for theappellant seeks permission of this Court to withdraw theappeal. 5. In view of the submission made by the learned counselfor the appellant, the Tax Case Appeal stands dismissed aswithdrawn. No costs. Sd/- Assistant Registrar (CS-VIII) //True Copy// mkn Sub Assistant Registrar To 1. Income Tax Appellate Tribunal, Madras "C" Bench 2.The Deputy Commissioner of Income Tax, Company Circle – II(3), Chennai – 600 034. https://hcservices.ecourts.gov.in/hcservices/ 3.The Commissioner of Income Tax Appeals – III, Chennai. Chennai. 4.The Assistant Commissioner of Income Tax, Company Circle II (3), Chennai – 34. Company Circle II (3), Chennai – 34. Tax Case Appeal No.336 of 2012 RSI(CO)GN(05/07/2021)