M/S.tarapore & Co.dhun Building,827, Anna Salai,Chennai – 600 002 v. The Assistant/Joint Commissioner Of Income Tax,Company Circle Vii/Business Range Vii,Chennai – 600 034

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 17.02.2021 CORAM THE HON'BLE MR.JUSTICE M. DURAISWAMYANDTHE HON'BLE MRS.JUSTICE T.V. THAMILSELVI Tax Case Appeal Nos.144 to 147 of 2010 M/s.Tarapore & Co.Dhun Building,827, Anna Salai,Chennai – 600 002....Appellant in all 4 TCAs Vs. The Assistant/Joint Commissioner of Income Tax,Company Circle VII/Business Range VII,Chennai – 600 034. ...Respondent in all 4 TCAs Tax Case Appeals filed under Section 260A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, Madras "C" Bench,Chennai dated 14.12.2009 passed inI.T.A.Nos.1256 to 1259/ Mds/2002 against the order of theCommissioner of Income Tax(Appeals)-IX, Chennai, dated01/03/2002, made in IT/Appeal No.381/1997-98, 137/1997-98,100/1998-99 and 309/1998-99 for the assessment year 1993-94,1994-95, 1996-97 against the order of the Deputy Commissioner ofIncome Tax Special Range IX, Chennai, dated 21/05/97 and2813/1996 made in u/sec 143 r/w sec 147 of the Income Tax Actfor the assessment year 1993-94. Against the order of the Deputy Commissioner of Income TaxSpecial Range IX, Chennai dated 21/03/97, 31/03/98 and16/11/1998 for the assessment year 1994-95, 1995-96, 1996-97.For Appellant : Mr.M.Kaushik(in all 4 TCAs)for M/s.S.Sridhar For Respondent : Ms.Brinda and(in all 4 TCAs)Mr.Karthick Ranganathan, Senior Standing Counsel https://hcservices.ecourts.gov.in/hcservices/ These appeal filed by the assessee under Section 260A ofthe Income Tax Act, 1961 ('the Act' for brevity), are directedagainst the order dated 14.12.2009 passed by the Income TaxAppellate Tribunal, Madras "C" Bench, Chennai ('the Tribunal'for brevity) in I.T.A.Nos.1256 to 1259/Mds/2002 for theAssessment Years 1993-94, 1995-96, 1994-95 and 1996-97. Theabove appeals were admitted on 08.02.2010 on the followingSubstantial Questions of Law for consideration: “1)Whether on the facts and in the circumstancesof the case, the Tribunal was right in law in holdingthat the reassessment made under Section 143 (3) readwith Section 147 is valid? 2)Whether on the facts and in the circumstancesof the case, the Tribunal was right in law in holdingthat there was a conversion of fixed assets into stockin trade by the assessee and the provisions of section45(2) was attracted?” 2. We have heard Mr.M.Kaushik, learned counsel for theappellant/assessee and Ms.Brinda, learned Standing Counsel forthe 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 respondent/assessee that the assessee has already filed the requisite Forms1 & 2 on 30.12.2020 in all the above appeals under Section 4 ofthe Act. 5. In the light of the fact that the assessee has alreadyavailed the benefit under the Act, no useful purpose would beserved in keeping this appeals pending. At the same time,safeguarding the interest of the assessee in the event the orderto be passed by the Department under the Act is not in favour of https://hcservices.ecourts.gov.in/hcservices/ 4.We are informed by the learned counsel for the respondent/assessee that the assessee has already filed the requisite Forms1 & 2 on 30.12.2020 in all the above appeals under Section 4 ofthe Act. 5. In the light of the fact that the assessee has alreadyavailed the benefit under the Act, no useful purpose would beserved in keeping this appeals pending. At the same time,safeguarding the interest of the assessee in the event the orderto be passed by the Department under the Act is not in favour of https://hcservices.ecourts.gov.in/hcservices/ the assessee. Accordingly, the Tax Case Appeals stand disposedof on the ground that the assessee has already filed therequisite Forms 1 & 2 in all the above appeals and theDepartment shall process the applications at the earliest inaccordance with the said Act and communicate the decision to theassessee at the earliest. As observed, the assessee is givenliberty to restore this appeals in the event the ultimatedecision to be taken on the declaration filed by the assesseeunder Section 4 of the said Act is not in favour of theassessee. If such a prayer is made, the Registry shall entertainthe prayer without insisting upon any application to be filedfor condonation of delay in restoration of the appeals and onsuch request made by the assessee by filing a MiscellaneousPetition for Restoration, the Registry shall place such petitionbefore the Division Bench for orders. 6. With this observation, the Tax Case Appeals standdisposed of with the aforementioned liberty and consequently,the Substantial Questions of Law are left open. No costs. Sd/- Assistant Registrar(CS VII) //True Copy// Sub Assistant Registrar vaTo 1. Income Tax Appellate Tribunal, Madras “C” Bench 2.The Assistant/Joint Commissioner of Income Tax,Company Circle VII/Business Range VII,Chennai – 600 034. 3.The Commissioner of Income Tax(Appeals) IX, Chennai. 4.The Deputy Commissioner of Income Tax,Special Range IX, Chennai. GP(CO)KKV/11/03/2021KKV/19/03/2021