V. Sivakumar v. The Income-tax Officer, International Taxation 2(2), Chennai
[Citation -2020-LL-1118-24]

Citation 2020-LL-1118-24
Appellant Name V. Sivakumar
Respondent Name The Income-tax Officer, International Taxation 2(2), Chennai
Court HIGH COURT OF MADRAS
Relevant Act Income-tax
Date of Order 18/11/2020
Assessment Year 2007-08
Judgment View Judgment
Keyword Tags substantial question of law • vivad se vishwas scheme • condonation of delay • total investment


TCA.No.251 of 2019 IN HIGH COURT OF JUDICATURE AT MADRAS DATED : 18.11.2020 CORAM HONOURABLE MR.JUSTICE T.S.SIVAGNANAM and HONOURABLE MRS.JUSTICE PUSHPA SATHYANARAYANA Tax Case Appeal No.251 of 2019 V.Sivakumar ...Appellant Vs Income Tax Officer, International Taxation 2(2), 121, M.G.Road, Chennai-34. ...Respondent APPEAL under Section 260A of Income Tax Act, 1961 against order dated 22.5.2015 passed by Income Tax Appellate Tribunal, Madras 'D' Bench, Chennai made in I.T.A.No.3074/Mds/2014 for assessment year 2007-08. For Appellant: Mr.R.Sivaraman For Respondent: Mr.Karthik Ranganathan, SC Judgment was delivered by T.S.SIVAGNANAM,J This appeal has been filed by assessee under Section 260A of Income Tax Act, 1961 ('the Act' for brevity) challenging order 1/4 http://www.judis.nic.in TCA.No.251 of 2019 dated 22.5.2015 made in I.T.A.No.3074/Mds/2014 on file of Income Tax Appellate Tribunal, Chennai, 'D' Bench ('the Tribunal' for brevity) for assessment year 2007-08. 2. assessee preferred this appeal by raising following substantial question of law: Whether, on facts and circumstances of case, Tribunal was correct in law in restricting exemption under Section 54F of Income Tax Act, 1961 to 1/3rd of total investment made in purchased property especially when it was proved that investment to extent of Rs.65,75,698/- was paid out of sole funds of appellant ? 3. We have heard Mr.R.Sivaraman, learned counsel appearing on behalf of appellant/assessee and Mr.Karthik Ranganathan, learned Standing Counsel appearing for respondent/Revenue. 4. learned counsel on behalf of appellant/assessee submits that appellant/assessee already filed declaration/ undertaking under Vivad Se Vishwas Scheme on 04.9.2020 and is awaiting orders to be passed in Form No.3. 5. In light of subsequent event, Competent Authority shall process application/declaration in accordance with Direct 2/4 http://www.judis.nic.in TCA.No.251 of 2019 Tax Vivad Se Vishwas Act, 2020 (Act 3 of 2020) and pass appropriate orders as expeditiously as possible. assessee is given liberty to restore this appeal in event ultimate decision to be taken on declaration to be filed by assessee under Section 4 of said Act is not in favour of assessee. If such prayer is made, Registry shall entertain prayer without insisting upon any application to be filed for condonation of delay in restoration of appeal and on such request made by assessee by filing miscellaneous petition for restoration, Registry shall place such petition before appropriate Division Bench for orders. 6. tax case appeal stands disposed of with aforementioned liberty and Consequently, substantial question of law is left open. No costs. 18.11.2020 To 1.The Income Tax Appellate Tribunal, 'D' Bench, Chennai. 2.The Income Tax Officer, International Taxation 2(2), Chennai-34. RS 3/4 http://www.judis.nic.in TCA.No.251 of 2019 T.S.SIVAGNANAM,J AND PUSHPA SATHYANARAYANA,J RS TCA.No.251 of 2019 18.11.2020 4/4 http://www.judis.nic.in V. Sivakumar v. Income-tax Officer, International Taxation 2(2), Chennai
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