The Commissioner Of Income Tax, Chennai v. M/S.venbro Investments & Financial Services Limited, “Gnanananda”

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 25.02.2021 CORAM THE HON'BLE MR.JUSTICE M. DURAISWAMYANDTHE HON'BLE MRS.JUSTICE T.V. THAMILSELVI Tax Case Appeal Nos.662 to 669 of 2013 The Commissioner of Income Tax,Chennai.... Appellant in all 8 TCAsVs. M/s.Venbro Investments & Financial Services Limited,“Gnanananda” No.52, Dr.Ranga Road,Mylapore, Chennai – 600 004. ... Respondent in all 8 TCAs T.C.A.No.662 to 665 of 2013 filed under Section 260A ofthe Income Tax Act, 1961 against the order of the Income TaxAppellate Tribunal, Madras "D" Bench, dated 03.12.2012 passedin I.T.A.Nos.1784 to 1787/Mds/2012. T.C.A.No.666 to 669 of 2013 filed under Section 260A ofthe Income Tax Act, 1961 against the order of the Income TaxAppellate Tribunal, Madras "D" Bench, dated 03.12.2012 passedin CO.Nos.180 to 183 of 2012 in I.T.A.Nos.1784 to1787/Mds/2012. And against the order of the Commissioner of Income Tax(Appeals)-III, Chennai – 34 dated 22/06/2012 and made inITA.No. 359, 358, 357 & 356/09-10/A-III. Against the order of the Deputy commissioner of IncomeTax Company Circle III (4), Chennai, dated 30/12/2009 underSection 143 (3) r/w section 147 rws 144A of the Income Tax Actfor the assessment Year 2004-05, 2005-06, 2006-07, 2007-08. For Appellant : Mr.M.Swaminathan,(in all 8 TCAs) Senior Standing Counsel and Ms.V.Pushpa, Standing CounselFor Respondent : Mr.N.Devanathan(in all 8 TCAs) The appeals in T.C.A.Nos.662 to 665 of 2013 filed by theDepartment under Section 260A of the Income Tax Act, 1961https://hcservices.ecourts.gov.in/hcservices/('the Act' for brevity), are directed against the order dated 03.12.2012 passed by the Income Tax Appellate Tribunal, Madras"D" Bench, ('the Tribunal' for brevity) in I.T.A.Nos.1784 to1787/Mds/2012 for the assessment years 2004-05, 2005-06, 2006-07, 2007-08. The appeals in T.C.A.Nos.666 to 669 of 2013 filedby the Department under Section 260A of the Income Tax Act,1961 are directed against the order dated 03.12.2012 passed bythe Income Tax Appellate Tribunal, Madras "D" Bench inCO.Nos.180 to 183 of 2012 in I.T.A.Nos.1784 to 1787/Mds/ 2012for the assessment years 2004-05, 2005-06, 2006-07, 2007-08. 2.On 08.07.2014, the appeals were admitted on thefollowing Substantial Questions of Law: “1)Whether on the facts and in thecircumstances of the case, the Income Tax AppellateTribunal was right in holding that the reopening ofthe assessment was bad in law? 2)Whether the Tribunal was right in allowingthe interest expenditure under Section 36(1)(iii)without reference to Section 14A of the Income TaxAct?” 3.We have heard Mr.M.Swaminathan, learned Senior Standingcounsel for the appellant/Revenue and Mr.N.Devanathan, learnedcounsel for the respondent/assessee. 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]March 2020 and published in the Gazette of India on 17[th] March2020. 5.The learned counsel for the respondent/assesseesubmitted that the respondent/assessee had availed Vivad SeVishwas Scheme and that the Department had also issued Form –3 on 07.12.2020. 6. Since the assessee has been issued with Form – 3,nothing survives for adjudication in the above appeals.Recording the submission made by the learned counsel for therespondent/assessee, the Tax Case Appeals stand disposed of.No costs. Sd/- Assistant Registrar (CS-VIII) //True Copy// Sub Assistant Registrar To 1. Income Tax Appellate Tribunal, Madras "D" Bench 2.The Commissioner of Income Tax (Appeals)-III, Chennai – 34. Chennai – 34. 3.The Deputy Commissioner of Income Tax, Company Circle III (4), Chennai. Company Circle III (4), Chennai. 5.The learned counsel for the respondent/assesseesubmitted that the respondent/assessee had availed Vivad SeVishwas Scheme and that the Department had also issued Form –3 on 07.12.2020. 6. Since the assessee has been issued with Form – 3,nothing survives for adjudication in the above appeals.Recording the submission made by the learned counsel for therespondent/assessee, the Tax Case Appeals stand disposed of.No costs. Sd/- Assistant Registrar (CS-VIII) //True Copy// Sub Assistant Registrar To 1. Income Tax Appellate Tribunal, Madras "D" Bench 2.The Commissioner of Income Tax (Appeals)-III, Chennai – 34. Chennai – 34. 3.The Deputy Commissioner of Income Tax, Company Circle III (4), Chennai. Company Circle III (4), Chennai. +1cc to Mr.M.Swaminathan, Advocate, S.R.No. 12019 Tax Case Appeal Nos.662 to 669 of 2013 GP(CO)GN(24/03/2021)