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

MA 174/CHNY/2011

• Counselvise Citation: [2011] 123 COUNSELVISE.COM (IT) 6830 (ITAT-CHENNAI)
• Duration Of Justice: 30 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 23-09-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 1990-1991
• Appeal Filed On: 24-08-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K E B RENGARAJAN JR STAND ING

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, CHENNAI BEFORE DR. O.K. NARAYANAN, VICE-PRESIDENT AND SHRI HARI OM MARATHA, JUDICIAL MEMBER M.A.NO. 174/MDS/2011 (IN ITA NO. 753/MDS/2008) (ASSESSMENT YEAR : 1990-91) THE DEPUTY COMMISSIONER OF INCOME-TAX, LARGE TAXPAYER UNIT, CHENNAI 600 101. VS. M/S. INDIAN OVERSEAS BANK LIMITED, 763, MOUNT ROAD, CHENNAI 600 002. PAN AAACI 1223 J (APPLICANT) (RESPONDENT) APPLICANT BY : SHRI K.E.B.RENGARAJAN,JR.S TANDING COUNSEL RESPONDENT BY : SHRI C. NARESH, CA DATE OF HEARING : 23 RD SEPTEMBER, 2011 DATE OF PRONOUNCEMENT : 23 RD SEPTEMBER, 2011 O R D E R PER DR. O.K. NARAYANAN, VICE-PRESIDENT THIS MISCELLANEOUS PETITION IS FILED BY THE REVENUE . THE RELEVANT ASSESSMENT YEAR IS 1990-91. THIS PETITION , IN THE NATURE OF A RESTORATION PETITION IS FILED IN THE CONTEXT O F THE ORDER OF THE TRIBUNAL DATED 15.01.2009 PASSED IN ITA NOS.753 & M A 174/11 :- 2 -: 754/MDS/2008. THOSE APPEALS WERE FILED BY THE REVE NUE AND RELATED TO THE ASSESSMENT YEARS 1990-91 AND 1992-93 . 2. THE APPEAL FOR THE ASSESSMENT YEAR 1990-91 IN IT A NO. 753/MDS/2008 WAS DISMISSED BY THE TRIBUNAL IN LIMIN E FOR WANT OF COD APPROVAL. THE APPEAL FILED BY THE REVENUE IN I TA NO.754/MDS/2008 FOR THE ASSESSMENT YEAR 1992-93 WAS DISMISSED ON MERITS. IN THE ABOVE CONTEXT, NOW, TH E PETITION FILED READS AS BELOW : THE ABOVE REFERRED APPEAL WAS DISMISSED BY ITAT VIDE ORDER DT. 15.01.09 ABOVE, FOR WANT OF APPROVAL FROM THE COMMITTEE ON DISPUTES. IN THIS CONNECTION , THE ATTENTION OF THE HONBLE ITAT IS INVITED TO THE DECISION OF THE FIVE MEMBER BENCH OF THE HONBLE SUPREME COURT OF INDIA IN THE CASE OF M/S. ELECTRON ICS CORPORATION OF INDIA VS. UOI, (CIVIL APPEAL NO.1883 OF 2011 ARISING OUT OF SLP(C) NO.2538 OF 2009 DT. 17-0 2- 11), WHEREIN THE APEX COURT HAVE RECALLED THEIR DIRECTIONS FOR OBTAINING CLEARANCE FROM COD FOR FILING/PURSUING APPEALS IN THE CASE OF PUBLIC SECTO R UNDERTAKINGS. M A 174/11 :- 3 -: 3. BUT THE FACT IS THAT THE REVENUE HAD ALREADY FIL ED A RESTORATION PETITION IN M.P.NO.272/MDS/2009, SEEKIN G RESTORATION OF THE APPEAL IN ITA NO.753/MDS/2008. THIS PETITIO N WAS ALLOWED BY THE TRIBUNAL THROUGH THEIR ORDER DATED 26.03.201 0. THE TRIBUNAL RECALLED THE EARLIER ORDER AND RESTORED TH E APPEAL ON THE ROLLS OF THE TRIBUNAL ON THE GROUND THAT THE REVENU E HAS SUBSEQUENTLY OBTAINED THE COD APPROVAL. 4. THEREFORE, IT IS TO BE SEEN THAT THE PRAYER OF T HE REVENUE HAS ALREADY BEEN GRANTED IN EARLIER MP NO.272/MDS/2 009 DATED 26.03.2010. ACCORDINGLY, THE PRESENT PETITION BECO MES INFRUCTUOUS AND IT IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF H EARING, ON FRIDAY, THE 23 RD OF SEPTEMBER, 2011 AT CHENNAI. SD/- SD/- (HARI OM MARATHA) (DR.O.K.NARAYANAN) JUDICIAL MEMBER VICE-PRESIDENT CHENNAI, DATED THE 23 RD SEPTEMBER, 2011 MPO* COPY TO : APPELLANT/RESPONDENT/CIT/CIT(A)/DR