1 IN HIGH COURT OF JUDICATURE AT MADRAS DATED 30.3.2015 CORAM HONOURABLE MR.JUSTICE S.VAIDYANATHAN W.P.No.8542 of 2015 and MP.No.1 of 2015 M.Guruprakash Hotels Represented by its Partner Mr.R.Mahamandra Ruban Having Office at No.71a, Usman Road T.Nagar, Chennai -600 017 ...Petitioner Vs. Assistant Commissioner of Income Tax Circle I, Room No.309, 3rd Floor, New Block, 121, M.G.Road, Aayakar Bhavan Chennai -600 034 Respondent Prayer:- Writ Petition filed under Article 226 of Constitution of India to issue Writ of certiorarified mandamus to call for records of impugned order issued by Respondent in its proceedings vide PAN: AAAFG3082G/2011-12 dated 20.03.2015 dismissing objections of Petitioner to re-opening of its income tax assessment for assessment year 2011-12 under Section 147 of Income Tax Act 1961 quash same and consequently forbearing Respondent or any of its 2 subordinates agents or any other person claiming under Respondent from re-assessing Petitioner's income tax for assessment year 2011-12 under Section 147 of Income Tax Act 1961. For Petitioner :Mrs. Suhrith Parthasarathy For Respondents :Mr.Pramod Kumar Chopda ORDER When matter is taken up for hearing, Mr.Promod Kumar Chopda, learned standing counsel appearing for respondent, has produced letter dated 27.3.2014 in NCC- 1/AAAFG3082G/AY2011-12 of respondent, wherein, in paragraph 4, it is stated as follows:- Meanwhile, it is noticed that jurisdictional High Court decision in case of CIT vs.Dr.D.L.Ramachandra Rao (1999) 236 ITR 51 (Mad) has held that there is no need to assess long term capital gains as short capital gains on land though land and building are sold as single unit. In view of 3 above in case if assessee produces evidence that sale consideration relates to land and building and on land no deprecation was claimed and allowed, capital gain arising out of sale value of land will be treated as long term capital gain only. However, capital gain arising out of sale value of building will be treated as short term capital gain. 2. Recording aforesaid statement of respondent, writ petition is disposed of. No costs. Consequently, connected miscellaneous petition is closed. petitioner shall participate in proceedings and it is also open to respondent to pass appropriate orders in accordance with law. ga 30.3.2015 Index: Yes/No Internet: Yes 4 S.VAIDYANATHAN,J., ga To Assistant Commissioner of Income Tax Circle I, Room No.309, 3rd Floor, New Block, 121, M.G.Road, Aayakar Bhavan Chennai -600 034 W.P.No.8542 of 2015 30.3.2015 M. Guruprakash Hotels v. Assistant Commissioner of Income-tax, Circle I, Chennai