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

MA 188/CHNY/2011

• Counselvise Citation: [2011] 123 COUNSELVISE.COM (IT) 7157 (ITAT-CHENNAI)
• Duration Of Justice: 1 month(s) 28 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 21-10-2011
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 24-08-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: K GOP ALAKRISHNAN SRAR
• Assessee Lawyers: R PARAMESWARAN SR MANAGER IOB

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, CHENNAI BEFORE SHRI SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMB ER AND SHRI GEORGE MATHAN, JUDICIAL MEMBER .. M.P. NO. 188/MDS/2011 (IN I.T.A. NO. 861/MDS/2010) ASSESSMENT YEAR : 2007-08 THE DEPUTY COMMISSIONER OF INCOME TAX, LARGE TAXPAYER UNIT, CHENNAI 600 101. (PETITIONER) V. M/S INDIAN OVERSEAS BANK, 763, MOUNT ROAD, CHENNAI 600 002. PAN : AAACI1223J (RESPONDENT) PETITIONER BY : SHRI K. GOPALAKRISHNAN, SR-AR RESPONDENT BY : SHRI R. PAR AMESWARAN, SR. MANAGER, IOB DATE OF HEARING : 21.10.2011 DATE OF PRONOUNCEMENT: 21.10.2011 O R D E R PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER : THROUGH THIS MISCELLANEOUS PETITION, ASSESSEE PLEA DS RECALL OF ORDER DATED 12 TH AUGUST, 2010 OF THIS TRIBUNAL. VIDE THE SAID ORDE R, TRIBUNAL DISMISSED APPEAL OF THE REVENUE FOR WANT OF APPROVA L OF COMMITTEE ON DISPUTES (COD). 2. AS POINTED OUT BY LEARNED D.R., HON'BLE APEX COU RT IN THE CASE OF ELECTRONICS CORPORATION OF INDIA LTD. V. UNION OF I NDIA (322 ITR 58) HAS RULED THAT THERE IS NO NECESSITY FOR ANY APPROVAL O F COMMITTEE ON DISPUTES M.P. NO. 188/MDS/11 2 FOR PURSUING APPEALS OF PUBLIC SECTOR UNDERTAKING B EFORE VARIOUS APPELLATE FORUMS. THIS IS ALSO NOT A CASE WHERE COD HAD SPEC IFICALLY DENIED THE APPROVAL SOUGHT BY THE REVENUE. 3. IN THE ABOVE CIRCUMSTANCES, WE ARE OF THE OPINIO N THAT THE ORDER OF THIS TRIBUNAL DATED 12 TH AUGUST, 2010 REQUIRES TO BE RECALLED. HENCE, THE ORDER OF THIS TRIBUNAL DATED 12 TH AUGUST, 2010 IN I.T.A. NO. 861/MDS/2010 IS RECALLED AND APPEAL IS FIXED FOR HEARING ON 22.1 2.2011 . THE DATE HAVING BEEN ANNOUNCED IN THE OPEN COURT, THERE WILL BE NO FURTHER NOTICE TO THE PARTIES CONCERNED. 4. IN THE RESULT, THE MISCELLANEOUS PETITION FILED BY THE REVENUE STANDS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT AFTER CONCLUSION OF HEARING ON 21.10.2011. SD/- SD/- (GEORGE MATHAN) (ABRAHAM P. GEORGE) JUDICIAL MEMBER ACCOUNTANT MEMBER CHENNAI, DATED THE 21 ST OCTOBER, 2011. KRI. COPY TO: PETITIONER/RESPONDENT/CIT(A)/CIT/D.R./GUAR D FILE