M/S.ootacamund Club,Club Road, P.o.box v. Income Tax Officer,Ward I (1),Ootacamund

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED : 05.03.2021 CORAM THE HON'BLE MR.JUSTICE M. DURAISWAMYANDTHE HON'BLE MRS.JUSTICE T.V. THAMILSELVI Tax Case Appeal No.194 of 2017 M/s.Ootacamund Club,Club Road, P.O.Box No.19,Ootacamund – 643 001. ... Appellant Vs. Income Tax Officer,Ward I (1),Ootacamund. ... Respondent Tax Case Appeal filed under Section 260A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, Chennai "A" Bench, dated 05.08.2015 passed inI.T.A.No.1529/Mds/2013. Preferred against the order passed by the Commissioner ofIncome Tax (A)-I, Coimbatore dated 15/05/2013 made in ITANo.119/12-13 preferred against the order passed by the IncomeTax Officer, Ward -I(1), Ooty dated 29/01/2013 under section 143(3)of the Income Tax Act. For Appellant : Mr.R.Sivaraman For Respondent : Mr.T.R.Senthil Kumar Senior Standing Counsel assisted by Mrs.K.G.Usha Rani Standing CounselJ 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 05.08.2015 passed by the Income TaxAppellate Tribunal, Madras "A" Bench, ('the Tribunal' forbrevity) in I.T.A.No.1529/Mds/2013 for the assessment year https://hcservices.ecourts.gov.in/hcservices/ 2010-11. The above appeal has been admitted on 12.04.2017 on thefollowing Substantial Questions of Law: “1.Whether having regard to the judgment of theSupreme Court in State of West Bengal Vs. CalcuttaClub Limited reported in (2016) 96 VST 20, theprinciple of mutuality is attracted between a Cluband its members and if so, whether the Tribunal wasright in law in ignoring the principles of mutualityin the facts of the present case ? 2.Whether on the facts and circumstances of thecase, the Appellate Tribunal was right in law inholding that interest received from bank and otherfinancial institutions of Rs.9,77,960/- on account offixed deposit shall fall outside the purview of“principle of mutuality” and therefore, the said sumshall be taxable as income?” 2. We have heard Mr.R.Sivaraman, learned counsel for theappellant/assessee and Mr.T.R.Senthil Kumar, learned SeniorStanding Counsel and Mrs.K.G.Usha Rani, learned StandingCounsel, for the respondent/Revenue. 3. It may not be necessary for this Court to decide theSubstantial Questions 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 22.01.2021 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// Sub Assistant Registrar mkn To 1. Income Tax Appellate Tribunal, Madras "A" Bench 2.The Income Tax Officer, Ward I (1), Ootacamund. Ward I (1), Ootacamund. 3. The Commissioner of Income Tax (Appeals)-I, Coimbatore.Coimbatore. +1 cc to M/s.T.R.Senthil Kumar, Advocate Sr.No. 14117 PM(CO) RMP(29/03/2021) Tax Case Appeal No.194 of 2017