DCIT, CHENNAI V. M/s. Indian Overseas Bank, CHENNAI

MA 160/CHNY/2011

• Counselvise Citation: [2011] 123 COUNSELVISE.COM (IT) 6817 (ITAT-CHENNAI)
• Duration Of Justice: 30 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 23-09-2011
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2004-2005
• Appeal Filed On: 24-08-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: K E B RENGARAJAN JR

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, CHENNAI [BEFORE DR. O.K. NARAYANAN, VICE-PRESIDENT AND SHRI HARI OM MARATHA, JUDICIAL MEMBER] M.P.NOS.157 TO 160/MDS/2011 [IN I.T.A NOS.1906,1907, 1908 & 1909/MDS/2009] ASSESSMENT YEARS : 1991-92, 1992-93, 1996-97 & 2004-05 THE DY. CIT LARGE TAXPAYER UNIT CHENNAI VS M/S INDIAN OVERSEAS BANK 763, ANNA SALAI CHENNAI 600 002 [PAN - AAACI 1223J] (PETITIONER) (RESPONDENT) PETITIONER BY : SHRI K.E.B RENGARAJAN, JR. STANDING COUNSEL RESPONDENT BY : SHRI C. NARESH, CA DATE OF HEARING : 23-09-2011 DATE OF PRONOUNCEMENT : 23-09-2011 O R D E R PER HARI OM MARATHA, JUDICIAL MEMBER: THESE MISCELLANEOUS PETITIONS HAVE BEEN FILED BY THE REVENUE FOR RECALLING OF THE TRIBUNAL ORDER DATED 24.2.20 10, VIDE WHICH THE APPEALS OF THE REVENUE WERE DISMISSED FOR WANT OF PERMISSION OF THE COMMITTEE ON DISPUTES(COD). THE REVENUE WAS GIVEN LIBERTY TO GET THE ORDERS RECALLED ONCE IT OBTAINS THE REQUISITE C OD PERMISSION. 2. IT HAS BEEN PLEADED THAT IN VIEW OF THE DECISIO N OF HON'BLE SUPREME COURT RENDERED RECENTLY IN THE CASE OF ELEC TRONICS CORPORATION MP 157 TO 160/11 :- 2 -: OF INDIA LTD VS UNION OF INDIA, 2011-TIOL-18-SC-CX- CB, JUDGMENT DATED 17.2.2011, IN CIVIL APPEAL NOS.1883 OF 2011 SLP(C) NO.2538 OF 2009, IT HAS BEEN CATEGORICALLY H ELD THAT FOR PURSUING LITIGATION BETWEEN PSUS AND THE GOVERNMENT , THERE IS NO LONGER A NEED TO OBTAIN PERMISSION OF COD. THE REA SON FOR ARRIVING AT THE ABOVE CONCLUSION HAS BEEN STATED TO BE THAT ALT HOUGH THE OBJECT IN GETTING COD PERMISSION IS LAUDATORY BUT THE MECHANI SM INVOLVED IN THE PROCESS LEADS TO DELAYS IN LITIGATION AND AS SUCH, THE MECHANISM HAS OUTLIVED ITS UTILITY. IT HAS BEEN OBSERVED BY T HEIR LORDSHIPS THAT IN THE CHANGED SCENARIO THE EXISTING DIRECTIONS TO OBT AIN COD PERMISSION HAS OUTLIVED SO IT IS BEING RECALLED AND HEREINAFTE R, THERE IS NO NEED FOR SUCH PERMISSION OF COD TO PURSUE LITIGATION BETWEEN PSUS AND GOVERNMENT. IN VIEW OF THE ABOVE DECISION, A MI STAKE APPARENT FROM RECORD HAS CREPT INTO THE ORDERS OF THE TRIBUN AL. WE, THEREFORE, RECALL THE ORDER IN QUESTION AND DIRECT THE REGISTR Y TO FIX THE APPEALS FOR HEARING ON 5.12.2011. AS THE DATE WAS PRONOUNC ED IN THE OPEN COURT, NO NEED TO ISSUE NOTICE OF HEARING SEPARATEL Y. 3. IN THE RESULT, ALL THE MISCELLANEOUS PETITIONS FILED BY THE REVENUE STAND ALLOWED. MP 157 TO 160/11 :- 3 -: ORDER PRONOUNCED IN THE OPEN COURT ON 23-09-2011. SD/- SD/- (DR. O.K. NARAYANAN) VICE-PRESIDENT (HARI OM MARATHA) JUDICIAL MEMBER DATED: 23 RD SEPTEMBER, 2011 RD COPY TO: 1. PETITIONER 2. RESPONDENT 3. CIT(A) 4. CIT 5. DR