DCIT(LTU), New Delhi V. M/s Power Finance Corp. Ltd, New Delhi

MA 135/DEL/2011

• Counselvise Citation: [2011] 129 COUNSELVISE.COM (IT) 9998 (ITAT-DELHI)
• Duration Of Justice: 4 month(s) 6 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 16-09-2011
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: F
• Assessment Year: 2004-2005
• Appeal Filed On: 10-05-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MRS ANUSHA KHURANA
• Assessee Lawyers: MANEESH

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH `FRIDAY E: NEW DELHI BEFORE SHRI C.L.SETHI, JUDICIAL MEMBER AND SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER M.A.NO.135/DEL/2011 (IN I.T.A. NO.2877/DEL/2010) ASSESSMENT YEAR : 2004-05 ASSTT. COMMISSIONER OF M/S. POWER FINANCE CORPORA TION LTD., INCOME-TAX (LTU), NEW DELHI. VS. URJANIDHI, 1 BARA KHAMBA ROAD, CONNUAGHT PLACE, NEW DELHI. M.A.NO.235/DEL/2011 (IN I.T.A. NO.2446/DEL/2010) ASSESSMENT YEAR : 2004-05 M/S. POWER FINANCE CORPORATION LTD., AS STT. COMMISSIONER OF I.TAX, URJANIDHI, 1 BARAKHAMBA ROAD, VS. RANGE-14, NEW DELHI. CONNUAGHT PLACE, NEW DELHI. PAN : AAACP1570H (APPLICANTS) (RESPONDENTS) DEPARTMENT BY : MRS. ANU SHA KHURANA, SR. DR. ASSESSEE BY : S/SH. V.S. RASTOGI, VINAY SINGHAL, CAS & MANEESH. O R D E R PER C.L. SETHI, JUDICIAL MEMBER THESE TWO MISC. APPLICATIONS FILED BY THE ASSESSEE AS WELL AS BY THE REVENUE WITH REGARD TO THE CONSOLIDATED ORDER DATED 22 ND OCTOBER, 2010 PASSED BY THIS TRIBUNAL IN THE ABOVE CAPTIONED APPE ALS FILED BY THE ASSESSEE AS WELL AS BY THE REVENUE FOR THE ASSESSMENT YEAR 2 004-05. 2 2. THE AFORESAID TWO APPEALS WERE DISMISSED FOR WAN T OF NECESSARY APPROVAL FROM THE COMMITTEE ON DISPUTES (COD). NOW , THE DEPARTMENT AS WELL AS THE ASSESSEE FILED THESE MISC. APPLICATIONS WITH A PRAYER THAT THE ORDER OF THE TRIBUNAL DATED 22.10.2010 MAY BE RECAL LED INASMUCH AS REQUIREMENT OF APPROVAL FROM COD HAS NOW BEEN DISPE NSED WITH BY THE HONBLE SUPREME COURT VIDE ORDER DATED 17 TH FEBRUARY, 2011 IN THE CASE OF ELECTRONIC CORPORATION OF INDIA LTD. VS. UNION OF I NDIA & OTHERS (CIVIL APPEAL NO.1883 OF 2011) (ARISING OUT OF SLP C.NO.25 38 OF 2009, WITH CIVIL APPEAL NO.1903 OF 2008). 3. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE MATERIAL ON RECORD. THE HONBLE SUPREME COURT VIDE ORDER DATED 17.02.20 11 HAS DISPENSED WITH THE REQUIREMENT OF COD APPROVAL FOR FILING FURTHER APPEAL, RENDERED IN THE CASE OF ELECTRONIC CORPORATION OF INDIA LTD. VS. UN ION OF INDIA & OTHERS REPORTED IN 332 ITR 58 (SC). 4. IN THE LIGHT OF THE AFORESAID DECISION OF HONBL E SUPREME COURT IN THE CASE OF ELECTRONIC CORPORATION OF INDIA LTD. (SUPRA ), IT IS NOW ACCEPTED POSITION THAT APPROVAL FROM COD IS NO MORE REQUIRED FOR FILING AN APPEAL BEFORE THE TRIBUNAL OR ANY OTHER FORUM, AS THE CASE MAY BE. WE, THEREFORE, RECALL OUR ORDER DATED 22 ND OCTOBER, 2010 AND RESTORE THE ABOVE CAPTIONED CROSS APPEALS TO THEIR FILES FOR DISPOSAL ON MERITS . THE REGISTRY IS HEREBY 3 DIRECTED TO FIX BOTH THE APPEALS FOR FRESH HEARING ON MERITS IN DUE COURSE OF TIME. 5. IN THE RESULT, BOTH THE THREE MISC. APPLICATIONS FILED BY THE ASSESSEE AS WELL BY THE REVENUE ARE ALLOWED. 6. THIS DECISION WAS PRONOUNCED IMMEDIATELY AFTER T HE HEARING WAS OVER ON 16 TH SEPTEMBER, 2011. SD/- SD/- (SHAMIM YAHYA) (C.L. SETHI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 16 TH SEPTEMBER, 2011. COPY OF THE ORDER FORWARDED TO:- 1. APPLICANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR BY ORDER *MG DEPUTY REGISTRAR, ITAT.