COMMISSIONER OF INCOME TAX Vs. ELGI EQUIPMENTS LTD

JUDGEMENT

(1.) This appeal filed by the Department under Section 260A of the Income Tax Act, 1961 ('the Act' for brevity), is directed against the order dated 27.07.2005 passed by the Income Tax Appellate Tribunal, Madras "D" Bench, Chennai ('the Tribunal' for brevity) in I.T.A.No.1917/Mds/2000 for the Assessment Year 1996-97. The Department has raised the following Substantial Question of Law for consideration:

(2.) We have heard Mr.T.R.Senthil Kumar, learned senior standing counsel for the appellant/ Revenue and Mr.N.V.Balaji, learned Counsel for the respondent/assessee.

(3.) It may not be necessary for this Court to decide the Substantial Question of Law framed for consideration on account of certain subsequent developments. The Government of India enacted the Direct Tax Vivad Se Vishwas Act, 2020 (Act 3 of 2020) to provide for resolution of disputed tax and for matters connected therewith or incidental thereto. The Act of the Parliament received the assent of the President on 17th March 2020 and published in the Gazette of India on 17th March 2020.