The Above Appeal Was Admitted On 05.10.2009 On Thefollowing Substantial Questions Of Law v. Commissioner Of Income Tax(113 Itr 84), Pandian Chemicals Ltd. Vs. Commissionerof Income Tax (262 Itr 278) And Commissioner Of Income- Tax Vs. Sterling Foods (2

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED : 30.11.2021 CORAM : THE HON'BLE MR. JUSTICE R. MAHADEVANAND THE HON'BLE MR. JUSTICE MOHAMMED SHAFFIQ T.C.A.No.904 of 2009 Commissioner of Income Tax III,Chennai.... Appellant/RespondentVs. M/s. Rajkumar Exports Pvt. Ltd.,B 603, Keshav Dugar Apartments,1, East Avenue,Kesava Perumal Puram,R.A.Puram, Chennai – 600 028. ... Respondent/Appellant Tax Case Appeal filed under Section 260A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, Chennai "B" Bench, dated 09.04.2009 passed inI.T.A.No.198/Mds/2008 for the Assessment Year 2003-04, againstthe order of the Commissioner of Income Tax (Appeals)-V,Chennai-34, vide ITA No.63/2006-07 dated 15.11.2007, for theAssessment Year 2003-04, made against the Assessment Order ofIncome Tax Officer (OSD), Company Circle-V(3), Chennai, dated31.03.2006, vide PAN No./GIR No.AAACR35784 for the AssessmentYear 2003-04. For Appellant : Mr.T.RavikumarSenior Standing CounselMs.R.Hemalatha, JSC For Respondent : Mr.R.Venkata Narayananfor M/s.Subbaraya Aiyar (Judgment was delivered by R.MAHADEVAN, J.) This tax case appeal has been filed by the appellant /Revenue, challenging the order dated 09.04.2009 passed by theIncome Tax Appellate Tribunal 'B' Bench Chennai ('the Tribunal', https://hcservices.ecourts.gov.in/hcservices/ for brevity) in I.T.A.No.198 /Mds/2008 for the Assessment Year2003-04. 2.The above appeal was admitted on 05.10.2009 on thefollowing substantial questions of law : "1. Whether on the facts and in the circumstancesof the case, the Income Tax Appellate Tribunal wasright in holding that the assessee was entitled fordeduction under section 80IA on the disallowance madeunder section 40A(3) even though such disallowancecould not be considered as income 'derived' from theeligible industrial undertaking, in the light of thedecisions of Supreme Court in Cambay Electric SupplyIndustrial Co. Ltd. vs. Commissioner of Income Tax(113 ITR 84), Pandian Chemicals Ltd. vs. Commissionerof Income Tax (262 ITR 278) and Commissioner of Income- tax vs. Sterling Foods (237 ITR 579)? 2. Whether on the facts and in the circumstancesof the case, the Income Tax Appellate Tribunal wasright in holding that while computing the deductionunder Section 80HHC, the deduction allowed underSection 80IA need not be reduced from the businessprofits, ignoring the provisions of Section 80IA(9)?" 3.When the matter was taken up for consideration, thelearned counsel appearing for the respondent / assesseesubmitted that during the pendency of this tax case appeal, theassessee has availed the benefit conferred under the Direct TaxVivad Se Vishwas Act, 2020 and filed necessary declarations,which were accepted and Form 5 / order for full and finalsettlement of tax arrears, was also issued by the Income taxdepartment, on 06.05.2021. The learned counsel has also filedForm 5 dated 06.05.2021 to that effect. 4.The aforesaid submission made by the learned counsel forthe respondent/assessee has also been fairly conceded by thelearned senior standing counsel appearing for the appellant/Revenue. 5.In view of the subsequent development, this court is of https://hcservices.ecourts.gov.in/hcservices/ the opinion that nothing survives for adjudication in thisappeal. Recording the submission so made by the learned counselon either side, the Tax Case Appeal stands disposed of. Nocosts. Sd/- Assistant Registrar(CS-V) //True Copy// avTo Sub Assistant Registrar 1. The Income Tax Appellate Tribunal, Chennai 'B' Bench.2. The Commissioner of Income Tax (Appeals)-V Chennai.3. The Commissioner of Income Tax III, Chennai.4. The Income Tax Officer (OSD), Company Circle-V(3), Chennai. +1cc to Mr.T.Ravi Kumar, Advocate, S.R.No.62133+1cc to Mr.Subbaraya Aiyar, Advocate, S.R.No.62514 T.C.A.No.904 of 2009 AK-II(CO)SU(27/12/2021)