Sri Chandrakumar v. The Assistant Commissioner Of Income Tax, Company Circle, Tirupur

IN THE HIGH COURT OF JUDICATURE AT Chennai DATED: 18.02.2021 CORAM THE HON'BLE MR.JUSTICE M. DURAISWAMYANDTHE HON'BLE MRS.JUSTICE T.V. THAMILSELVI Tax Case Appeal No.895 of 2010 Sri Chandrakumar ...Appellantv. The Assistant Commissioner of Income Tax,Company Circle,Tirupur. ...Respondent Tax Case Appeal filed under Section 260A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, “A” Bench, Chennai dated 20.11.2009 passed inITA.No.1341/Mds/2009 for the Assessment Year 2005-06. Appeal against the O/o the Commissioner of Income Tax(Appeals)-II, Coimbatore, and made in I.T.A.No.69C/08-09 orderdated 16/06/2009 and against O/o the Assistant Commissioner ofIncome-Tax Department Tiruppur, and made in PAN No. /C-809 order dated 28/11/2008 for the Assessment year2005-06. For Appellant : Mr.Shreekumar for Mr. R. Sivaraman For Respondent : Mr.T.R. Senthil Kumar Senior Standing Counsel J U D G M E N T (Judgment was 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 20.11.2009 passed by the Income TaxAppellate Tribunal, Chennai 'A' Bench, Chennai ('the Tribunal'for brevity) in ITA.No.1341/Mds/2009 for the Assessment Year2005-06. https://hcservices.ecourts.gov.in/hcservices/ 2. The appeal was admitted on 02.12.2008 on the followingSubstantial Question of Law: " Whether on the facts and the circumstancesof the case, the bar stipulated under section 71(2A) was only in respect of business loss under thehead "profit and gains of business or profession"and the same is not precluded from claiming set offon unabsorbed depreciation against income fromsalary having regard to the provision of section 32(2) of the Act?" 3. We have heard Mr.Shreekumar, learned counsel for theappellant and Mr.T.R. Senthil Kumar, learned Senior StandingCounsel for the respondent. 4. It may not be necessary for this Court to decide theSubstantial Questions of Law framed for consideration onaccount of certain subsequent developments. The Government ofIndia enacted the Direct Tax Vivad Se Vishwas Act, 2020 (Act 3of 2020) to provide for resolution of disputed tax and formatters connected therewith or incidental thereto. The Act ofthe Parliament received the assent of the President on 17[th] March2020 and published in the Gazette of India on 17[th] March 2020. 5. We are informed by the learned counsel for theappellant/assessee that the assessee has already filed therequisite Forms 1 and 2 on 30.01.2021 under Section 4 of theAct. 6. In the light of the fact that the assessee has alreadyavailed the benefit under the Act, no useful purpose would beserved in keeping this appeal pending. At the same time,safeguarding the interest of the assessee in the event theorder to be passed by the Department under the Act is not infavour of the assessee. Accordingly, the Tax Case Appeal standsdisposed of on the ground that the assessee has already filedrequisite Forms 1 and 2 and the Department shall process theapplication at the earliest in accordance with the said Act andcommunicate the decision to the assessee at the earliest. Asobserved, the assessee is given liberty to restore this appealin the event the ultimate decision to be taken on thedeclaration filed by the assessee under Section 4 of the saidAct is not in favour of the assessee. If such a prayer is made,the Registry shall entertain the prayer without insisting uponany application to be filed for condonation of delay inrestoration of the appeal and on such request made by the assessee by filing a Miscellaneous Petition for Restoration, theRegistry shall place such petition before the Division Bench fororders. assessee by filing a Miscellaneous Petition for Restoration, theRegistry shall place such petition before the Division Bench fororders. 7. With these observations, the Tax Case Appeal standsdisposed of with the aforementioned liberty and Consequently,the Substantial Questions of Law are left open. No costs. Sd/- Assistant Registrar(CS VIII)//True Copy// Sub Assistant RegistrarRj To 1. The Income Tax Appellate Tribunal, Chennai 'A' Bench, Chennai. 2. The Commissioner of Income Tax, (Appeals)-11, Coimbatore.3. The Assistant Commissioner of Income Tax, Company Circle, Tirupur.Tax Case Appeal No.895 of 2010RR(CO)KKV/17/03/2021