The Assistant Commissioner Of Income Tax,Non~Corporate Circle v. Asst.cit (2012) 340 Itr 477

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 27.01.2021 CORAM: THE HONOURABLE MR.JUSTICE C.SARAVANAN W.P.No.9534 of 2016andM.P.No.8565 of 2016 M/s.Sri Jagannatha Spinners,Rep by its Partner Mr.J.Chandrasekar,1/68, V.K.Krishna Menon Road,New Siddhapudur,Coimbatore - 641 044. ... Petitioner The Assistant Commissioner of Income Tax,Non~Corporate Circle 2, 67 A, Race Course Road,Coimbatore - 18. Prayer: Writ Petition is filed under Article 226 of theConstitution of India praying for the issuance of Writ ofCertiorarified Mandamus, to call for the records of therespondent relating to the Assessment Order dated 29.01.2016 aswell as Demand Notice dated 29.01.2016 issued to the petitionerholding PAN No. under Section 156 of the Income TaxAct, 1961 and to quash the same as arbitrary, illegal andcontrary to the law laid down by this Court with furtherdirection to the Respondent to grant appropriate relief in termsof decision reported in -Velayudhaswamy Spinning Mills Vs. Asst.CIT (2012) 340 ITR 477. For Respondent : Mr.A.P.Srinivas, Senior Standing Counsel The learned counsel for the respondent fairly submits thatthe issue is covered against the Revenue Department. Though,earlier arguments was advanced by the learned counsel for the https://hcservices.ecourts.gov.in/hcservices/ petitioner and the learned counsel for the respondent the issueis no longer res integra. 2.The impugned assessment order dated 29.01.2016 was passedpending the decision of the Hon-ble Supreme Court against thedecisions of this Court in Velayudhaswamy Spinning Mills (P) LtdVs. Assistant Commissioner of Income~Tax, 2012 21 taxmann.com 95(Madras)/[2012]340 ITR 477 (Madras)[2010] to protect interest ofthe revenue. 3.The learned counsel for the petitioner has now drawn myattention to the decision of the Hon-ble Supreme Court inAssistantCommissionerofIncome~Tax,TirupurVs.Velayudhaswamy Spinning Mills (P) Ltd [2016] 76 taxmann.com 176(SC)/[2017]244 Taxman 58 (SC) wherein the decision of this Courtin Velayudhaswamy Spinning Mills (P) Ltd Vs. AssistantCommissioner of Income~Tax, 2012 21 taxmann.com 95(Madras)/[2012]340 ITR 477 (Mad)[2010] has been upheld. 4.In view of the same, this Writ Petition stands allowed.No costs. Consequently, connected Miscellaneous Petition isclosed. Sd/- Assistant Registrar(CS VI) //True Copy// Sub Assistant Registrar jas To 1. The Assistant Commissioner of Income Tax, Non-Corporate Circle 2, 67 A, Race Course Road, Coimbatore 18. +1cc to Mr.A.P. SRINIVAS, Advocate, S.R.No.4313+1cc to Mr.P. HARIBABU, Advocate, S.R.No.4520 GSM(CO)SM/17/03/2021