M/S.ramgosri Constructions P. Ltd v. The Deputy Commissioner Of Income Tax,Company Circle – V(3),Chennai – 600 034.Tcas

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 04.02.2021 CORAM THE HON'BLE MR.JUSTICE M. DURAISWAMYANDTHE HON'BLE MRS.JUSTICE T.V. THAMILSELVI Tax Case Appeal Nos.203 & 214 of 2013 M/s.Ramgosri Constructions P. Ltd.,No.225, Mettukuppam,Okkiam, Thoraipakkam,Chennai – 600 096. ... Appellant in both TCAs Vs. The Deputy Commissioner of Income Tax,Company Circle – V(3),Chennai – 600 034.TCAs ... Respondent in both Tax Case Appeals filed under Section 260A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, Madras "C" Bench, dated 25.02.2011 passed inI.T.A.Nos.2047 & 2048/Mds/ 2010. Appeal filed against the order dated 26/08/2010 made in ITANo.134-136/08-09, 137/08-09 on the file of the Commissioner ofIncome Tax (Appeals) V Chennai-34 for the Assessment Year 2000-01, 2001-02, 2003-04, 2006-07 against the order dated25.11.2008, 11.12.2008 made in PAN/G.I.No. on the fileof the Commissioner of Income Tax Company Circle-V (3) Chennaifor the Assessment Year 2003-04, 2006-07. For Appellant : Mr.M.Kaushik for Mr.S.Sridhar For Respondent : Mr.T.Ravikumar Senior Standing Counsel C O M M O N J U D G M E N T(Delivered by M.DURAISWAMY, J.) These appeal filed by the assessee under Section 260A ofthe Income Tax Act, 1961 ('the Act' for brevity), are directedagainst the order dated 25.02.2011 passed by the Income Tax https://hcservices.ecourts.gov.in/hcservices/ Appellate Tribunal, Madras "C" Bench, ('the Tribunal' forbrevity) in I.T.A.Nos.2047 & 2048/Mds/2010 for the assessmentyears 2003-04 & 2006-07. The assessee has raised the followingSubstantial Questions of Law: “1)Whether the Appellate Tribunal is correct inlaw in accepting the appeal (s) of thedepartment/respondent exparte relating to theassessment years 2003-04 & 2006-07 without grantingreasonable opportunity of hearing while grosslyviolating the principles of natural justice? 2)Whether the Appellate Tribunal is correct inlaw in rejecting the please for claim of business losswhich loss was set off against the property incomeearned in the computation of taxable total incomerelating to the assessment year 2003-04 withoutconsidering relevant materials while overlooking thefindings of the CIT (Appeals) which resulted inperversity in the order passed by them? 3)Whether the Appellate Tribunal is correct inlaw in rejecting the plea for claim of business losswhich loss was set off against the property incomeearned in the computation of taxable total incomerelating to the assessment year 2006-07 withoutconsidering relevant materials while overlooking thefindings of the CIT (Appeals) which resulted inperversity in the order passed by them? 4)Whether the Appellate Tribunal is correct inlaw in rejecting the issues on the allowability ofexpenses in the computation of business loss which wasso presumed legally in view of the non considerationof the said issues, which issues relating to theincurring of expenses were considered and allowed bythe CIT (Appeals) in the computation of business losswhich loss was sought to be set off against propertyincome earned in the computation of taxable totalincome, resulting in perversity in the order passed bythem?” 2. We have heard Mr.M.Kaushik, learned counsel for theappellant/ assessee and Mr.T.Ravikumar, learned Senior 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 India enacted 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. 2. We have heard Mr.M.Kaushik, learned counsel for theappellant/ assessee and Mr.T.Ravikumar, learned Senior 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 India enacted 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 28.01.2021 in respect of T.C.A.No.203 of 2013 and on21.01.2021 in respect of T.C.A.No.214 of 2013 and the learnedcounsel for the appellant seeks permission of this Court towithdraw the appeals. 5. In view of the submission made by the learned counsel forthe appellant, the Tax Case Appeals stand dismissed aswithdrawn. No costs. Sd/- Assistant Registrar(CS VI) //True Copy// Sub Assistant Registrar vaTo 1.The Income Tax Appellate Tribunal, Madras "C" Bench 2.The Assistant Commissioner of Income Tax, Company Circle – V(3), Chennai – 600 034. 3.The Commissioner of Income Tax, (Appeals)V, Chennai-34. (Appeals)V, Chennai-34. +1cc to Mr.T.Ravi Kumar, Advocate Sr.6012Tax Case Appeal Nos.203 & 214 of 2013 gmr[co]srg 10/03/2021