DENA BANK, V. ADDL. CIT. - 2(3),

MA 204/MUM/2011

• Counselvise Citation: [2011] 123 COUNSELVISE.COM (IT) 7409 (ITAT-MUMBAI)
• Duration Of Justice: 8 month(s) 3 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 02-12-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2003-2004
• Appeal Filed On: 29-03-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D S SUNDER SINGH

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES D, MUMBAI BEFORE SHRI R.S.SYAL, AM AND SHRI R.S.PADVEKAR, JM M.A.NOS.200, 201 & 204/MUM/2011 (ARISING OUT OF ITA NOS.237 & 238/MUM/2002, 4789/MU M/2008 ASST. YEARS 1997-98, 1998-99 AND 2003-2004) M/S.DENA BANK 17 HORNIMAN CIRCLE, 2 ND FLOOR FORT, MUMBAI 400 023. PAN :AAACD4249B. THE JOINT COMMISSIONER OF INCOME-TAX S.R.27 MUMBAI. (APPLICANT) VS. (RESPONDENT) APPLICANT BY : SHRI S.ANANTHAN & SMT.LALITHA RAMESW ARAN RESPONDENT BY : SHRI D.S.SUNDER SINGH DATE OF HEARING : 02.12.2011 DATE OF PRONOUNCEMENT : 02.12.2011 O R D E R PER R.S.SYAL, AM : THESE MISCELLANEOUS APPLICATIONS U/S.254(2) OF THE INCOME-TAX ACT, 1961 HAVE BEEN MOVED BY THE ASSESSEE PRAYING FOR THE PAR TIAL RECALLING OF THE TRIBUNAL ORDER DATED 23.02.2001 ON APPEALS OF THE ASSESSEE A ND TO REINSTATE CERTAIN GROUNDS, WHICH WERE DISMISSED BY THE TRIBUNAL FOR WANT OF CO D APPROVAL IN RELATION TO THE A.YS. 1997-98, 1998-99 AND 2003-04. 2. THE LEARNED COUNSEL FOR THE ASSESSEE CONTENDED T HAT THE TRIBUNAL DISMISSED GROUND NO.5 OF ITS APPEALS FOR A.YS. 1997-98 AND 19 98-99 AGAINST THE CONFIRMATION OF DISALLOWANCE U/S 35D, VIDE PARA 16 AND PARA 27, IN RESPECT OF ITA NOS.237 & 238/MUM/2002 RESPECTIVELY; TOGETHER WITH GROUND NO. 3 AGAINST THE CONFIRMATION OF DISALLOWANCE U/S 35D AND GROUND NO.4 AGAINST THE DI SALLOWANCE U/S 14A, VIDE PARA NOS.48 AND 49, IN RESPECT OF ITS APPEAL IN ITA NO.4 789/MUM/2011 FOR ASSESSMENT YEAR 2003-2004, FOR WANT OF COD PERMISSION. HE REL IED ON THE JUDGEMENT OF THE HONBLE SUPREME COURT IN ELECTRONICS CORPORATION OF INDIA LTD. VS. UNION OF INDIA & ORS. [(2011) 332 ITR 58 (SC)] FOR THE PROPOSITION THAT THE COD PERMISSION MA NOS.200, 201 & 204/MUM/2011 M/S.DENA BANK. 2 IS NO LONGER REQUIRED TO BE TAKEN AND THUS REQUESTE D THAT THE IMPUGNED ORDER BE RECALLED TO THAT EXTENT. THE LEARNED DEPARTMENTAL R EPRESENTATIVE DID NOT RAISE ANY SERIOUS OBJECTION TO THE ARGUMENTS ADVANCED ON BEHA LF OF THE ASSESSEE. 3. AFTER CONSIDERING THE RIVAL SUBMISSIONS AND PERU SING THE RELEVANT MATERIAL ON RECORD IT IS NOTICED THAT THE HONBLE SUPREME COURT IN THE CASE OF ELECTRONICS CORPORATION OF INDIA LTD. (SUPRA) HAS HELD THAT THE EARLIER JUDGEMENTS ON THE POINT INCLUDING ONGC VS. CCE [(1992) 104 CTR (SC) 31] REQUIRING THE PERMISSION TO BE TAKEN FROM COD AS A PRE-CONDITION TO PROSECUTE T HE APPEALS, HAVE OUTLIVED THEIR UTILITY IN THE CHANGED SCENARIO AS THE MECHANISM HA S NOT ACHIEVED THE DESIRED RESULTS RATHER HAS LED TO MORE LITIGATION. THE SAID EARLIER JUDGEMENTS HAVE BEEN RECALLED BY THE HONBLE SUPREME COURT IN THE LATTE R JUDGEMENT IN ELECTRONICS CORPORATION OF INDIA (SUPRA) . IN THE LIGHT OF THIS LATTER JUDGEMENT RENDERED BY THE HONBLE APEX COURT, NOW THERE IS NO MORE ANY REQUIR EMENT TO SEEK PERMISSION FROM COD. AS SUCH, PARTIES CANNOT BE IMPRESSED UPON TO OBTAIN THE APPROVAL FROM COD FOR PROSECUTING THEIR APPEALS BEFORE THE TRIBUN AL. THE IMPUGNED ORDER IS, THEREFORE, RECALLED FOR THE LIMITED PURPOSE OF RE-A DJUDICATION OF GROUND NO.5 OF ASSESSMENT YEARS 1997-98 AND 1998-99 AND GROUND NOS . 3 & 4 OF ASSESSMENT YEAR 2003-2004. THE REGISTRY IS DIRECTED TO FIX THESE A PPEALS FOR HEARING. 4. IN THE RESULT, THE MISCELLANEOUS APPLICATIONS AR E ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 02 ND DAY OF DECEMBER, 2011. SD/- SD/- (R.S. PADVEKAR) (R.S.SYAL) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI : 02 DECEMBER, 2011. DEVDAS* MA NOS.200, 201 & 204/MUM/2011 M/S.DENA BANK. 3 COPY TO : 1. THE APPLICANT. 2. THE RESPONDENT. 3. THE CIT CONCERNED 4. THE CIT(A) X, MUMBAI. 5. THE DR/ITAT, MUMBAI. 6. GUARD FILE. TRUE COPY. BY ORDER ASSISTANT REGISTRAR, ITAT, MUMBAI.