Ramesh Babu v. The Joint Commissioner Of Income Tax,Central Circle Ii (4),Chennai – 600 034

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 22.01.2021 CORAM THE HON'BLE MR.JUSTICE M. DURAISWAMYANDTHE HON'BLE MRS.JUSTICE T.V. THAMILSELVI Tax Case Appeal No.423 of 2009 Ramesh Babu ...Appellant Vs. The Joint Commissioner of Income Tax,Central Circle II (4),Chennai – 600 034. ... Respondent Tax Case Appeal filed under Section 260A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, “B” Bench, Chennai dated 24.04.2008 passed in I.T.(SS).A.No.51/Mds/07,. Appeal filed against the order of the Commissioner ofIncome Tax (Appeals)-II, Chennai 46, Mahatma Gandhi Salai,Nungambakkam Chennai-34, dated 21/12/2006 CIT /(A)/CHE/22/06-07.G.I.No.P.A.No.AAFPB2872E and against the Joint Commissioner ofIncome Tax Central Circle-II(4) Chennai-600 034 dated 29/03/2006PAN No/G.I.No.24706-R/AAFPB 2872 E for the Assessment Year 1997-98 to 2002-03 and 01/04/2002 to 15/11/2002. For Respondent : Mr.T.R.Senthil Kumar, Senior Standing Counsel This appeal filed by the assessee under Section 260A of theIncome Tax Act, 1961 ('the Act' for brevity), is directedagainst the order dated 24.04.2008 passed by the Income TaxAppellate Tribunal, “B” Bench, Chennai ('the Tribunal' forbrevity) in I.T.(SS).A.No.51/Mds/07 for the Block AssessmentPeriod 01.04.1996 to 15.11.2002. The appeal was admitted on29.06.2009 on the following Substantial Questions of Law: https://hcservices.ecourts.gov.in/hcservices/ “ 1) Whether on the facts and in thecircumstances of the case, the Income Tax AppellateTribunal was right in law in not holding that the cashpayment made by the appellant for purchase of propertyat Shanthi Colony was to be assessed as undisclosedincome within the meaning of Section 158B (b) of theIncome Tax Act, 1961? 2)Whether on the facts and circumstances of thecase, the Income Tax Appellate Tribunal was right inlaw in relying on erroneous entry made in the books ofaccounts of the appellant, which was not found at thetime of search and treating the payment of case asundisclosedincomewithoutappreciatingthecorroborative evidences and explanations offered bythe appellant to explain the sources for theinvestment made by the appellant?” 2. We have heard Mr.G.Baskar, learned counsel for theappellant/ assessee and Mr.T.R.Senthil Kumar, learned SeniorStanding Counsel 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 has already been issued with Form – 3on 19.01.2021 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(CS VI) //True Copy// Sub Assistant Registrar va To 1. Income Tax Appellate Tribunal, Chennai “B” Bench. 2.The Joint Commissioner of Income Tax, Central Circle II (4), Chennai – 600 034. 3.The Commissioner of Income Tax, Chennai-34. +1cc to Mr.G.Baskar, Advocate Sr.3867+1cc to Mr.T.R.Senthilkumar, Advocate Sr.3657 Tax Case Appeal No.423 of 2009 ad[co]srg 09/02/2021