T.v.sundram Iyengar & Sons Ltd.,Madurai v. The Commissioner Of Income Tax,Madurai

IN THE HIGH COURT OF JUDICATURE AT MADRASDATED : 01.04.2021 CORAM THE HON'BLE MR.JUSTICE M. DURAISWAMYANDTHE HON'BLE MRS.JUSTICE T.V. THAMILSELVITax Case Appeal No.1156 of 2015 T.V.Sundram Iyengar & Sons Ltd.,Madurai. ...Appellant Vs. The Commissioner of Income Tax,Madurai. ... Respondent Tax Case Appeal filed under Section 260A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, Madras "A" Bench, dated 03.07.2015 passed inI.T.A.No.2777/Mds/2014, against the order of the Commissioner ofIncomeTax(Appeals)-I,Madurai,dated18.09.2014inITA.No.0069/2013-14, PAN.No. for the Assessment Year2010-2011, against the order of the Deputy Commissioner ofIncome Tax, Circle-I(1), Madurai dated 29.03.2013 inPAN.No.AABCT0159K for the Assessment Year 2010-2011. For Appellant : Mr.N.V.BalajiFor Respondent : Mr.M.Swaminathan Senior Standing Counsel and Mrs.V.Pushpa Standing Counsel This appeal filed by the assessee under Section 260A of theIncome Tax Act, 1961 ('the Act' for brevity), is directedagainst the order dated 03.07.2015 passed by the Income TaxAppellate Tribunal, Madras "A" Bench, ('the Tribunal' forbrevity) in I.T.A.No.2777/Mds/2014 for the assessment year2010-11. The above appeal has been admitted on 09.12.2015 on thefollowing Substantial Questions of Law: https://hcservices.ecourts.gov.in/hcservices/ "1.Whether on the facts and in the circumstancesof the case, the Tribunal, is justified in law indisallowing the foreign study expenses incurred bythe assessee on six persons sponsored by it forundertaking higher studies abroad as personalexpenses and not allowable under Section 37 of theAct? 2.Whether on the facts and in the circumstancesof the case, the Tribunal, is justified in law inconfirming the dis-allowance under Section 14A of theAct, especially when there is no finding by theAssessing Officer that there was any error in theaccounts or that the assessee has actually incurredany expenses in relation to dividend income?” 2. We have heard Mr.N.V.Balaji, learned counsel for theappellant/assessee and Mr.M.Swaminathan, learned Senior StandingCounsel and Mrs.V.Pushpa, learned Standing Counsel for therespondent/Revenue. 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. We are informed by the learned counsel for the appellant/assessee that the assessee had already been issued with Form-3on 05.03.2021 and the learned counsel for the appellant seekspermission of this Court to withdraw the appeal. 5. In view of the submission made by the learned counsel forthe appellant, the Tax Case Appeal stands dismissed aswithdrawn. No costs. Sd/- Assistant Registrar //True Copy// Sub Assistant Registrar mkn To 1.Income Tax Appellate Tribunal, Madras "A" Bench 2.The Commissioner of Income Tax, Madurai. Madurai. 3.The Deputy Commissioner of Income Tax, Circle-I(1), Madurai. Circle-I(1), Madurai. 4.The Commissioner of Income Tax(Appeals)-I, Madurai. Madurai. +1cc to Mr.M.Swaminathan, Advocate Sr.21546 Tax Case Appeal No.1156 of 2015SMI(CO)KM(29/04/2021)