TC NO. 1150 of 2008 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 10-02-2025 CORAM THE HONOURABLE MR JUSTICE S. S. SUNDAR AND THE HONOURABLE MR JUSTICE C. SARAVANAN TC NO. 1150 of 2008 The Commissioner Of Income Tax, Chennai. Appellant(s) Vs M/s.R.K.Swamy Bbdo Pvt Ltd No.604, Anna Salai, Chennai-6. Respondent(s) For Appellant(s): Mr.J.Narayanasamy, Sr Standing Counsel For Respondent(s): Mr.A.S.Sriraman For M/s.S.Sridhar For Sole Respondent JUDGMENT S.S.SUNDAR, J. AND C.SARAVANAN, J. In the present case, the following substantial questions of law have been framed by this Court: 1.Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the amounts not received from the customers for placing https://www.mhc.tn.gov.in/judis their advertisements in the press and electronic media could be treated as a bad debt under section 36(2)(i) of the Income Tax, even though such amount was not offered as income during any previous year? 2.Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the amounts not received from the customers for placing their advertisements in the press and electronic media could be treated as a trading loss under Section 37 of the Act? 3.Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the amount paid to the former managing director as a non complete fee is a revenue expenditure? 2. Now, it is reported that this appeal can be dismissed as withdrawn as per the circulars issued by the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes in Circular No.3/2018 dated 11.07.2018 and Circular No.17/2019 dated 08.08.2017 and Board's letter in F.No.279/Mis.142/2007-ITJ (Pt) dated 20.08.2018 respectively. https://www.mhc.tn.gov.in/judis 3.In view of the aforesaid submissions made by the learned senior standing counsel for the appellant, the appeal stands dismissed as withdrawn. However, the substantial questions of law are left open to be answered at an appropriate appeal. No costs. (S.S.SUNDAR J.) (C.SARAVANAN J.) 10-02-2025 kas Index : Yes / No Neutral Citaion To 1. M/s.R.K.Swamy Bbdo Pvt Ltd No.604, Anna Salai, Chennai-6. S.S.SUNDAR, J. AND C.SARAVANAN, J. https://www.mhc.tn.gov.in/judis TC NO. 1150 of 2008 10.02.2025 https://www.mhc.tn.gov.in/judis