Madras HC Dismisses Tax Appeals as Infructuous After Tribunal Disposed Main Appeals

CIT Vs Vellore Institute of Technology (Madras High Court) The Revenue filed appeals under Section 260A of the Income Tax Act, 1961 challenging a common order of the Income Tax Appellate Tribunal, Chennai ‘B’ Bench, relating to the assessment years 2002-03 to 2004-05. The appeals raised two substantial questions of law. The first questioned whether the Tribunal was correct in extending an interim stay beyond the statutory period of 365 days prescribed under the third proviso to Section 254(2A) of the Act. The second questioned whether the Tribunal was justified in taking up the app...