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

MA 271/CHNY/2011

• Counselvise Citation: [2012] 123 COUNSELVISE.COM (IT) 7995 (ITAT-CHENNAI)
• Duration Of Justice: 8 month(s) 3 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 27-04-2012
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 20-04-2012
• Assessment Year: 1999-2000
• Appeal Filed On: 24-08-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: DR YOGESH KAMATH IRS
• Assessee Lawyers: R PARAMESWARAN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, CHENNAI BEFORE DR. O.K.NARAYANAN, VICE-PRESIDENT AND SHRI VIKAS AWASTHY, JUDICIAL MEMBER M.P. NO.271(MDS)/2011 IN ITA NO.1866(MDS)/2006 ASSESSMENT YEAR:1999-2000 THE ASSISTANT COMMISSIONER OF INCOME-TAX, COMPANY CIRCLE II(3), CHENNAI. VS. M/S.INDIAN OVERSEAS BANK, FUNDS & ACCOUNTS DEPARTMENT, 762, MOUNT ROAD, CHENNAI-600 002. PAN AAACI1233J (PETITIONER) (RESPONDENT) PETITIONER BY : DR.YOGESH KAMATH, IRS, ADDL .CIT RESPONDENT BY : SHRI R.PARAMESWARAN DATE OF HEARING : 20 TH APRIL, 2012 DATE OF PRONOUNCEMENT : 20 TH APRIL, 2012 O R D E R PER DR.O.K.NARAYANAN, VICE-PRESIDENT: THIS MISCELLANEOUS PETITION IS FILED BY THE REVEN UE. THE PETITION IS IN THE NATURE OF RESTORATION PETITION. THE APPEAL IN ITA NO.1866(MDS)/2006 WAS DISPOSED OF BY THE TRIBUN AL ON - - MP NO.271 OF 2011 2 2-6-2008. THE APPEAL WAS DISMISSED IN LIMINE AS NOT MAINTAINABLE FOR WANT OF APPROVAL FROM COMMITTEE ON DISPUTES. 2. NOW THE REVENUE SUBMITS THAT THE REQUIREMENT OF COD APPROVAL HAS BEEN DISAPPROVED BY A LARGER BENCH OF THE HONBLE SUPREME COURT IN THE CASE OF M/S. ELECTRONI CS CORPORATION OF INDIA VS. UOI AND AS SUCH THE APPEAL OF THE REVENUE MAY BE RESTORED AND BE DECIDED ON MERITS. 3. THE PRAYER OF THE REVENUE IS ACCEPTED. THE ORD ER OF THE TRIBUNAL DATED 2-6-2008 IN ITA NO.1866(MDS)/ 2006 IS RECALLED. THE APPEAL IN ITA NO.1866(MDS)/2006 IS R ESTORED ON THE ROLLS OF THE TRIBUNAL FOR HEARING AND DISPOSAL. 4. THE APPEAL IS POSTED FOR HEARING ON 20 TH JUNE, 2012. 5. IN RESULT, THIS PETITION FILED BY THE REVENUE I S ALLOWED. - - MP NO.271 OF 2011 3 ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON FRIDAY, THE 20 TH OF APRIL, 2012 AT CHENNAI. SD/- SD/- (VIKAS AWASTHY) (DR. O.K.NARAYANAN) JUDICIAL MEMBER VICE-PRESIDENT CHENNAI, DATED THE 20 TH APRIL, 2012. V.A.P. COPY TO: (1) PETITIONE R (2) RESPONDENT (3) CIT (4) CIT(A) (5) D.R. (6) G.F.