The High Court dismissed a tax appeal filed by M/s. Addison & Co Limited as withdrawn, noting that the assessee had already issued the requisite form for a voluntary disclosure under the Direct Tax Vivad Se Vishwas Act, 2020.
Tax Case Appeal stands dismissed as withdrawn. No costs.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 01.02.2021
CORAM
THE HON'BLE MR.JUSTICE M. DURAISWAMY AND
THE HON'BLE MRS.JUSTICE T.V. THAMILSELVI
Tax Case Appeal No.716 of 2016
M/s.Addison & Co Limited, 803, Anna Salai, Chennai – 600 002. ...Appellant/Respondent Vs.
The Deputy Commissioner of Income Tax, Corporate Circle – 1(1), Chennai. ...Respondent/Appellant
Tax Case Appeal filed under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal, Madras "A" Bench, dated 04.03.2016 passed in I.T.A.No.2198/ Mds/2015 against the order passed by the Commissioner of Income Tax(Appeals)-1, Chennai-34 made in ITA NO.117/13-14/A-1 (New No.ITA.181/CIT(A)-1/2013-14) dated 09.09.2015 and against the order passed by the Deputy Commissioner of Income Tax, Company circle-1(1), Chennai, made in GIR/PAN AX-1086 AAA5199H dated 28.03.2013.
For Appellant : Mr.R.Venkatanarayanan, for M/s.Subbaraya Aiyar
For Respondent : Mr.T.Ravi Kumar,
Senior Standing Counsel
J U D G M E N T (Delivered by M.DURAISWAMY, J.)
This appeal filed by the assessee under Section 260A of the Income Tax Act, 1961 ('the Act' for brevity), is directed against the order dated 04.03.2016 passed by the Income Tax Appellate Tribunal, Madras "A" Bench, ('the Tribunal' for brevity) in I.T.A.No.2198/Mds/2015 for the assessment year 2010-11. The assessee has raised the following Substantial Questions of Law:
“1)Whether the Tribunal was right in law in holding that long term capital gains should be
assessed in the assessment year 2010-11 based on Joint Development Agreement and not in assessment year r2013-14 in which the possession was handed over, after the Developer has obtained all the necessary approval for the construction of project?
2)Whether the Tribunal was right in law in holding that pursuant the Joint Development Agreement and Power of Attorney there was a transfer within the meaning of Sec.2 (47) of the Act and hence long term capital gains u/s 45(1) shall be assessed in the assessment year 2010-11?
3)Whether under the Joint Development Agreement dated 07.09.2009 capital gains can be said to have arisen in the subject assessment year?”
va Sub Assistant Registrar To
2.The Deputy Commissioner of Income Tax, Corporate Circle – 1(1), Chennai.
+1cc to Mr.T.Ravikumar, Advocate, S.R.No.5061
+1cc to M/s.Subbaraya Aiyar, Advocate, S.R.No.5070
Tax Case Appeal No.716 of 2016
bs(CO) rv(10/02/2021)
2 provisions across 2 enactments
M/s. Addison & Co Limited
The Deputy Commissioner of Income Tax, Corporate Circle – 1(1), Chennai
M. DURAISWAMY
T.V. THAMILSELVI
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
