DCIT, Circle-1(1), Hyderabad V. M/s. Andhra Bank, Hyderabad

MA 35/HYD/2012

• Counselvise Citation: [2012] 123 COUNSELVISE.COM (IT) 8038 (ITAT-HYDERABAD)
• Duration Of Justice: 1 month(s) 26 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 20-04-2012
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: misc
• Appeal Filed On: 24-02-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAO
• Assessee Lawyers: V SIVA KUMAR

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B', HYDERABAD BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. ASHA VIJAYARAGHAVAN, JUDICIAL MEMBER M.A. NO. 35/HYD/2012 ARISING OUT OF ITA NO. 1592/HYD/2008 (ASSESSMENT YEAR : 2005-06) THE DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-1(1) HYDERABAD VS. M/S. ANDHRA BANK HYDERABAD PAN: AABCA7375C APPELLANT RESPONDENT APPELLANT BY: SHRI M.S. RAO RESPONDENT BY: SHRI V. SIVAKUMAR DATE OF HEARING: 2 0.0 4 .2012 DATE OF PRONOUNCEMENT: 20 .0 4 .2012 O R D E R PER CHANDRA POOJARI, AM: BY THIS MISCELLANEOUS APPLICATION (MA) THE REVENUE SEEKS RECALL OF THE ORDER OF THE TRIBUNAL DATED 12.7.2010 IN I.T.A. NO. 1592/HYD/2008 FOR ASSESSMENT YEAR 2005-06 WHEREIN T HE TRIBUNAL DISMISSED THE APPEAL OF THE REVENUE HOLDIN G THAT THERE IS NO APPROVAL FROM COD. 2. THE LEARNED DR SUBMITTED THAT IN VIEW OF THE JUDGEM ENT OF SUPREME COURT IN THE CASE OF ELECTRONIC CORPORATION OF INDIA VS. UNION OF INDIA & ORS, 332 ITR 58 (SC), THE REQUIREM ENT OF OBTAINING APPROVAL OF COD IS NO MORE REQUIRED. UND ER THESE CIRCUMSTANCES, HE PRAYED FOR RECALL OF THE ORDER OF THE TRIBUNAL. 3. THE LEARNED AR DID NOT OPPOSE THE ARGUMENT OF THE D R. 4. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE MATE RIAL ON RECORD. CONSIDERING THE JUDGEMENT OF THE SUPREME C OURT CITED SUPRA, WE ARE INCLINED TO RECALL THE ORDER OF THE T RIBUNAL DATED 12.7.2010 IN I.T.A. NO. 1592/HYD/2008. ACCORDINGLY THE ORDER OF M.A. NO. 35/HYD/2012 M/S. ANDHRA BANK ================= 2 THE TRIBUNAL IS RECALLED AND THE APPEAL IS RESTORED ON THE FILE OF THE TRIBUNAL. THE APPEAL WILL BE HEARD ON 17.5.2012. NO SEPARATE NOTICE OF HEARING SHALL BE SENT TO THE PARTIES AND THIS ORDER ITSELF WILL SERVE AS A NOTICE OF HEARING. 5. IN THE RESULT, MA FILED BY THE REVENUE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 20 TH APRIL, 2011. SD/ - (ASHA VIJAYARAGHAVAN) JUDICIAL MEMBER SD/ - (CHANDRA POOJARI) ACCOUNTANT MEMBER HYDERABAD, DATED THE 20 TH APRIL, 2012 COPY FORWARDED TO: 1. THE DEPUTY COMMISSIONER OF INCOME - TAX, CIRCLE - 1(1), HYDERABAD. 2. M/S. ANDHRA BANK, DR. PATTABHI BHAVAN, SAIFABAD, HYDERABAD. 3. THE CIT(A) - II, HYDERABAD 4. THE CIT - I, HYDERABAD 4 . THE DR B BENCH, ITAT, HYDERABAD TPRAO