The Commissioner Of Income Tax,Chennai v. M/S.tamil Nadu Petroproducts Ltd

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED : 30.03.2021 CORAM THE HON'BLE MR.JUSTICE M. DURAISWAMYANDTHE HON'BLE MRS.JUSTICE T.V. THAMILSELVI Tax Case Appeal No.239 of 2015 The Commissioner of Income Tax,Chennai. ... Appellant Vs. M/s.Tamil Nadu Petroproducts Ltd.,No.9, Manali Express Road,Manali, Chennai – 600 068. ... Respondent Tax Case Appeal filed under Section 260A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, Chennai "C" Bench, dated 24.02.2012 passed inI.T.A.No.458/Mds/2010. Appeal against the order of the Commissioner of IncomeTax (Appeals) LARGE TAXPAYER UNIT, II Floor, 1775, JawarhalalNehru Inner Ring Road, Anna Nagar Western Extension, Chennai-101made in ITA No.30/09-10/LTU(A), order dated 23/11/2010,Assessment year 2002-03 Appeal against the order of the Assistant Commissioner ofIncome Tax, Large Taxpayer Unit, Chennai made in PANNo.AAACT1295M order dated 23/11/2009, Assessment year 2002-03. For Appellant : Mr.T.Ravikumar Senior Standing CounselFor Respondent : Mr.R.Venkata Narayanan for M/s.Subbaraya Aiyar JUDGMENT (Delivered by M.DURAISWAMY, J.) This appeal filed by the Revenue under Section 260A of theIncome Tax Act, 1961 ('the Act' for brevity), is directed https://hcservices.ecourts.gov.in/hcservices/ against the order dated 24.02.2012 passed by the Income TaxAppellate Tribunal, Chennai "C" Bench, ('the Tribunal' forbrevity) in I.T.A.No.458/Mds/2010 for the assessment year 2003-04. The above appeal has been admitted on 21.07.2015 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 cessation of liability underSection 41(1) takes place that too only when thedispute is ultimately settled, especially when theassessee is following mercantile system of accounting? 2.Whether the finding of the Tribunal is properby applying Section 41(1) which speaks about cessationor remission of liability while so in the present casethe issue relates to refund granted pursuant to HighCourt order on 10.06.2002? 3.Is not the finding of the Tribunal bad byholding that cessation of liability takes place underSection 41(1) when the issue relates to refund grantedby virtue of Court order?” 2. We have heard Mr.T.Ravikumar, learned Senior StandingCounsel for the appellant/Revenue and Mr.R.Venkata Narayanan forM/s.SubbarayaAiyar,learnedcounselfortherespondent/assessee. 3. It may not be necessary for this Court to decide theSubstantial Questions of Law framed for consideration on accountof certain subsequent developments. The Government of Indiaenacted the Direct Tax Vivad Se Vishwas Act, 2020 (Act 3 of2020) to provide for resolution of disputed tax and for mattersconnected therewith or incidental thereto. The Act of theParliament received the assent of the President on 17[th] March2020 and published in the Gazette of India on 17[th] March 2020. 4.Learned counsel for the respondent/assessee submittedthat the assessee had availed the Vivad Se Vishwas Scheme andthat the respondent/assessee had already been issued with Form–3 on 05.01.2021. https://hcservices.ecourts.gov.in/hcservices/ 5.Since the respondent/assessee had been issued with Form-3,nothing survives for adjudication in the above appeal.Recording the submission made by the learned counsel for therespondent/assessee, the Tax Case Appeal stands disposed of. Nocosts. Sd/-Assistant Registrar(CS III) //True Copy//Sub Assistant RegistrarMKNTo1. The Income Tax Appellate Tribunal, Chennai "C" Bench 2. The Commissioner of Income Tax, Chennai.3. The Commissioner of Income Tax (Appeals) LARGE TAXPAYER UNIT, II Floor, 1775, Jawarhalal Nehru Inner Ring Road, Anna Nagar Western Extension, Chennai-1014. The Assistant Commissioner of Income Tax, Large Taxpayer Unit, Chennai. https://hcservices.ecourts.gov.in/hcservices/ 5.Since the respondent/assessee had been issued with Form-3,nothing survives for adjudication in the above appeal.Recording the submission made by the learned counsel for therespondent/assessee, the Tax Case Appeal stands disposed of. Nocosts. Sd/-Assistant Registrar(CS III) //True Copy//Sub Assistant RegistrarMKNTo1. The Income Tax Appellate Tribunal, Chennai "C" Bench 2. The Commissioner of Income Tax, Chennai.3. The Commissioner of Income Tax (Appeals) LARGE TAXPAYER UNIT, II Floor, 1775, Jawarhalal Nehru Inner Ring Road, Anna Nagar Western Extension, Chennai-1014. The Assistant Commissioner of Income Tax, Large Taxpayer Unit, Chennai. +1cc to Mr.Subbaraya Aiyar Padmanabhan, Advocate, S.R.No.20970+1cc to Mr.T.Ravikumar, Advocate, S.R.No.20998 Tax Case Appeal No.239 of 2015SR-II(CO)TE (28/04/2021)