ASST CIT CIR 2(1), V. BOB ASSETS MANAGEMENT CO. LTD,

MA 373/MUM/2011

• Counselvise Citation: [2011] 123 COUNSELVISE.COM (IT) 7404 (ITAT-MUMBAI)
• Duration Of Justice: 5 month(s) 23 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 30-12-2011
• Appeal Filed By: Department
• Bench Allotted: B
• Assessment Year: 2003-2004
• Appeal Filed On: 07-07-2011
• Court: TRIBUNAL
• Department Lawyers: JI TENDRA YADAV
• Assessee Lawyers: SHITAL BANDEKAR
• Keywords: Principle of natural justice

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH B BEFORE SHRI D.MANMOHAN (VP) & SHRI PRAMOD KUMAR (AM ) M.A. NO. 372/MUM/2011 ARISING OUT I.T.A.NO. 914/MUM/2010 (ASSESSMENT YEAR : 2002-03) M.A. NO. 373/MUM/2011 ARISING OUT I.T.A.NO. 915/MUM/2010 (ASSESSMENT YEAR : 2003-04) ASSTT.CIT CIRCLE 2(1) ROOM NO. 561, 5 TH FLOOR AAYAKAR BHAVAN M.K. ROAD MUMBAI-400 020. VS. BOB ASSETS MANAGEMENT CO. LTD. 105, MAKER CHAMBERS III NARIMAN POINT MUMBAI-400 021. APPLICANT RESPONDENT PAN/GIR NO. : AAACV4358B ASSESSEE BY : MS. SHITAL BANDEKAR DEPARTMENT BY : SHRI JITENDRA YADAV DATE OF HEARING : 30.12.2011 DATE OF PRONOUNCEMENT : 30.12.2011 ORDER PER D. MANMOHAN (VP) :- THESE APPLICATIONS ARE FILED AT THE INSTANCE OF THE REVENUE AND THEY ARE DIRECTED AGAINST THE ORDER PASSED BY THE I TAT DATED 18.1.2011. 2. IN THE LIGHT OF THE LAW AS IT EXISTED AT THE REL EVANT POINT OF TIME THE ITAT B BENCH DISMISSED THE APPEALS FILED BY THE R EVENUE ON THE GROUND THAT THE CLEARANCE FROM THE COMMITTEE ON DISPUTES I S NECESSARY TO PROSECUTE THE APPEALS. HOWEVER, PERMISSION WAS GRAN TED TO THE REVENUE TO MOVE AN APPLICATION FOR RECALL OF THE SAID ORDER IN THE EVENT OF OBTAINING CLEARANCE FROM THE COMMITTEE AT A LATER P OINT OF TIME. 2. SUBSEQUENT TO THE VIEW TAKEN BY THE TRIBUNAL, HO N'BLE APEX COURT OBSERVED, IN THE CASE OF ELECTRONICS CORPORATION OF INDIA LTD. (CIVIL APPEAL NO. 1883 OF 2011), THAT OBTAINING CLEARANCE FROM THE COMMITTEE ON DISPUTES IS NOT COMPULSORY TO PROSECUTE APPEALS BEFORE THE APPELLATE TRIBUNAL. HAVING REGARD TO THE CHANGED CIRCUMSTANCE S, THE REVENUE MOVED THE MISCELLANEOUS APPLICATIONS SEEKING RECALL OF THE ORDER DATED 18.1.2011. BOB ASSETS MANAGEMENT CO. LTD. 2 3. WE HAVE HEARD LEARNED DEPARTMENTAL REPRESENTATIV E AS WELL AS LEARNED COUNSEL FOR THE ASSESSEE AND CAREFULLY PERU SED THE RECORD. HAVING REGARD TO THE CIRCUMSTANCES OF THE CASE, WE ARE OF THE VIEW THAT IT IS A FIT CASE FOR RECALLING THE ORDER DATED 18.1.20 11. IN FACT THE MINISTRY OF FINANCE, GOVERNMENT OF INDIA HAS ALSO CLARIFIED THAT IN THE LIGHT OF THE LATER DECISION OF HON'BLE APEX COURT CLEARANCE FROM COD NEED NOT BE GRANTED. IN THE INTEREST OF NATURAL JUSTICE WE RECA LL OUR EARLIER ORDER AND DIRECT THE REGISTRY TO POST BOTH THE APPEALS FOR FR ESH HEARING IN THE NORMAL COURSE AND ISSUE FRESH NOTICES TO THE PARTIE S. 4. IN THE RESULT, AS PRONOUNCED IN THE OPEN COURT, MISCELLANEOUS APPLICATIONS FILED BY THE REVENUE ARE ALLOWED. SD/- (PRAMOD KUMAR) ACCOUNTANT MEMBER SD/- (D.MANMOHAN) VICE-PRESIDENT DATED : 30 TH DECEMBER, 2011. COPY TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A)-CONCERNED. 4. THE CIT, CONCERNED. 5. THE DR CONCERNED, MUMBAI 6. GUARD FILE BY ORDER TRUE COPY ASSTT. REGISTRAR, ITAT, MUMBAI PS