Son Of Mr.s.r.srinivasan v. The Deputy Commissioner Of Income Tax,Company Circle Vi(4),Room

IN THE HIGH COURT OF JUDICATURE AT MADRAS M/s.Star Health and Allied Insurance Co.Ltd,No.1, Star Insurance Towers, New Tank Street,Valluvar Kottam High Road, Nungambakkam,Chennai – 600 034.Rep by its Chief Financial Officer,Mr.S.Ramaswamy, Son of Mr.S.R.Srinivasan ... Petitioner Vs. The Deputy Commissioner of Income Tax,Company Circle VI(4),Room No.705, 7[th] Floor, Vanaparathy Block,121, Mahatma Gandhi Road,Chennai – 600 034.... Respondent Prayer: Writ Petition is filed under Article 226 of theConstitution of India praying for the issuance of Writ ofCertiorari, to call for the records in Misc/Co.Cir.VI (4)/2014-15 dated 31.10.2014 on the file of the Respondent, relating toAssessment Year 2009-10, quash the same. For Respondent : Mr.A.P.Srinivas, Senior Standing Counsel In this Writ Petition, the petitioner has challenged theorder in reply to objection to reopening of Assessment videimpugned order dated 31.10.2014 bearing reference No.Misc/Co.CirVI(4)/2014-15 under Section 147 of the Income Tax Act, 1961.This order was passed in light of the decision of the Hon'bleSupreme Court in the case of GKN Driveshafts (India) Ltd Vs. ITO259 ITR 19. https://hcservices.ecourts.gov.in/hcservices/ 2.The petitioner had earlier challenged the scrutinyAssessment Order dated 27.12.2011 for the Assessment Year 2009-10 on the file of the respondent, herein, in W.P.No.3582 of2012. By an order dated 17.02.2020, this Court had passed thefollowing order:- ''Both the counsel fairly submitsthat the issue at the moment is squarelycovered against the Revenue in terms ofthe Division Bench of the Delhi High Courtin the case of Oriental Insurance Co.LtdVs.DCIT (2018) 407 ITR 658 (Del) which hasbeen followed by this Court. 2.The learned counsel for the Revenuefurther submits that the Revenue haspreferred SLP before the Hon'ble SupremeCourt against the above decision of thefollowing three SLPs.3.Since the issue is at the momentscovered in favor of the petitioner, andconsidering the fact that the issue isalso pending before the Hon'ble SupremeCourt, I am inclined to set aside theimpugned order and remit the case back tothe respondent to pass a fresh order. Therespondent is directed to await for thefinal decision of the Hon'ble SupremeCourt in the three mentioned appeals i.e.,C.A.No.007580/2019; C.A.No.007683 of 2019and C.A.No.007685 of 2019. 4.Accordingly, the impugned ordersare set aside and the cases are remittedback to the respondent to pass appropriateorder after the Hon'ble Supreme Courtgives its decision on the subject. 5.Accordingly, the Writ Petition stands disposed. No cost. Consequently,connected Miscellaneous Petitions areclosed.'' 3.Since for computation of book profit, the case had beenremitted back to the Assessing Officer by an order of this Courton 17.02.2020 in W.P.No.3582 of 2015, the proceedings for re-assessment do not survive for consideration for the present. 4.Accordingly, the present Writ Petition stands disposed byquashing the impugned order by remitting the case back to therespondent to pass a fresh order after the Hon'ble Supreme Courtgives its final verdict in C.A.No.007580/2019; C.A.No.007683 of2019 and C.A.No.007685 of 2019 filed by the respondent IncomeTax Department. No costs. Consequently, connected https://hcservices.ecourts.gov.in/hcservices/ Sd/- Asst.Registrar (CS VIII) jas To /true copy/Sub Asst. Registrar The Deputy Commissioner of Income Tax,Company Circle VI(4),Room No.705, 7[th] Floor, Vanaparathy Block,121, Mahatma Gandhi Road,Chennai – 600 034. +1 cc to M/s.N.Muthkumar Advocate sr4873+1 cc to M/s.A.P.Srinivas Advocate sr 5054 W.P.No.30770 of 2014and M.P.No.1 of 2014 rr(co)aa18/03/2021