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TMI Blog2020 (10) TMI 1158X X X X Extracts X X X X X X X X Extracts X X X X ..... safeguarding the interest of the assessee in the event the order to be passed by the Department under the Act is not in favour of the assessee. Accordingly, the Tax Case Appeal stands disposed of on the ground that the assessee has already filed a declaration and remitted the tax and the Department shall process the application at the earliest in accordance with the said Act and communicate the decision to the assessee at the earliest. As observed, the assessee is given liberty to restore this appeal in the event the ultimate decision to be taken on the declaration filed by the assessee under Section 4 of the said Act is not in favour of the assessee. - T.C.A. No. 73 of 2018 - - - Dated:- 13-10-2020 - THE HONOURABLE MR.JUSTICE T.S.SI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment was made within the meaning of Section 2(22)(e) of the Income Tax Act, 1961 by the company to such a shareholder? 2. We have heard Mr.Suhrith Parthasarathy, learned counsel appearing for the appellant and Mr.T.Ravikumar, learned Senior Standing counsel and M/s.R.Hemalatha, learned Senior Standing counsel for the respondents. 3. It may not be necessary for this Court to decide the Substantial Questions 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 Presiden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 4 of the Act and the particulars to be furnished are also mentioned in the Sub Sections of Section 4. Section 5 of the Act deals with the time and manner of the payment and Section 6 deals with Immunity from initiation of proceedings in respect of offence and imposition of penalty in certain cases. Section 9 of the Act deals with cases, where the Act 3 of 2020 will not be applicable. 6. We are informed by the learned counsel for the appellant/assessee that the assessee has already filed the declaration under Section 4 of the Act on 25.09.2020 and has also remitted the tax in terms of the computation to be done under the said Act and they are awaiting the orders from the Department. 7. In the light of the fact that the assessee h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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