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

MA 183/CHNY/2011

• Counselvise Citation: [2011] 123 COUNSELVISE.COM (IT) 7142 (ITAT-CHENNAI)
• Duration Of Justice: 1 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 14-10-2011
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: D
• Next Hearing Date: 14-10-2011
• Assessment Year: 1997-1998
• Appeal Filed On: 24-08-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: R PARAMESWARAN SR MANAGER IOB

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.P.NO.183/MDS/2011 [IN I.T.A NO. 1919/MDS/2010] ASSESSMENT YEAR : 1997-98 THE DY. CIT LARGE TAXPAYER UNIT CHENNAI VS M/S INDIAN OVERSEAS BANK 763, MOUNT ROAD CHENNAI 600 002 [PAN AAAC1223J] (PETITIONER) (RESPONDENT) PETITIONER BY : SHRI SHAJI P. JACOB, ADDL. CIT RESPONDENT BY : SHRI R.PARAMESWARAN, SR. MANAGER, IOB DATE OF HEARING : 14.10.2011 DATE OF PRONOUNCEMENT : 14.10.2011 O R D E R PER HARI OM MARATHA, JUDICIAL MEMBER: THIS MISCELLANEOUS PETITION HAS BEEN FILED B Y THE REVENUE FOR RECALLING OF THE TRIBUNAL ORDER DATED 13.1.201 1, VIDE WHICH THE APPEAL OF THE PETITIONER WAS DISMISSED FOR WANT OF PERMISSION OF THE COMMITTEE ON DISPUTES(COD). THE REVENUE WAS GIVEN LIBERTY TO GET THE ORDER RECALLED ONCE IT OBTAINS THE REQUISITE CO D PERMISSION. 2. IT HAS BEEN PLEADED THAT IN VIEW OF THE DECISION OF HON'BLE SUPREME COURT RENDERED RECENTLY IN THE CASE OF ELEC TRONICS CORPORATION OF INDIA LTD VS UNION OF INDIA, 2011-TIOL-18-SC-CX- CB, JUDGMENT DATED 17.2.2011, IN CIVIL APPEAL NO.1883 OF 2011 OF 2008, ARISING OUT OF SLP(C) NO.2538 OF 2009, IT HAS BEEN CATEGORICALLY HELD MP 183/11 :- 2 -: THAT FOR PURSUING LITIGATION BETWEEN PSUS AND THE G OVERNMENT, THERE IS NO LONGER A NEED TO OBTAIN PERMISSION OF COD. THE REASON FOR ARRIVING AT THE ABOVE CONCLUSION HAS BEEN STATED TO BE THAT ALTHOUGH THE OBJECT IN GETTING COD PERMISSION IS LAUDATORY BUT THE MECH ANISM INVOLVED IN THE PROCESS LEADS TO DELAYS IN LITIGATION AND AS SU CH, THE MECHANISM HAS OUTLIVED ITS UTILITY. IT HAS BEEN OBSERVED BY THEIR LORDSHIPS THAT IN THE CHANGED SCENARIO THE EXISTING DIRECTIONS TO OBTAIN COD PERMISSION HAS OUTLIVED SO IT IS BEING RECALLED AND HEREINAFTER, THERE IS NO NEED FOR SUCH PERMISSION OF COD TO PURSUE LITIGA TION BETWEEN PSUS AND GOVERNMENT. SINCE THE JUDGMENT OF APEX COURT B ECOMES THE LAW OF THE LAND IN VIEW OF ARTICLE 141 OF THE CONSTITUT ION OF INDIA, IT WOULD BE DEEMED THAT ON THE DATE OF JUDGMENT PASSED ON 13 .1.2011 BY THIS BENCH THERE WAS NO NEED FOR PERMISSION OF THE COD T O PURSUE THE DISPUTE BY THE REVENUE AGAINST THE PSUS. SINCE A MISTAKE APPARENT FROM RECORD HAS CREPT INTO THE TRIBUNALS ORDER, WE RECALL IT AND DIRECT THE REGISTRY TO POST THE APPEAL FOR HEARING ON 14.1 2.2011. AS THE DATE WAS PRONOUNCED IN THE OPEN COURT, THERE IS NO NEE D TO ISSUE NOTICE OF HEARING SEPARATELY. 3. IN THE RESULT, THE MISCELLANEOUS APPLICATION STAN DS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 14 .10.2011 SD/- SD/- (DR. O.K. NARAYANAN) VICE-PRESIDENT (HARI OM MARATHA) JUDICIAL MEMBER DATED: 14 TH OCTOBER, 2011 RD : COPY TO: PETITIONER/RESPONDENT/CIT(A)/CIT/DR