ASTCIT LTU, V. INDUSTRIAL DEVELOPEMTN BANK OF INDIA LTD,

MA 383/MUM/2012

• Counselvise Citation: [2013] 124 COUNSELVISE.COM (IT) 0642 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 28 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 12-07-2013
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: I
• Assessment Year: 2005-2006
• Appeal Filed On: 14-06-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAJESH RANHAN PRASAD
• Assessee Lawyers: C KARTHIKEYAN NAIR

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL I BENCH, MUMBAI .. , !'# $ $ $ $ ! %, & !'# !' BEFORE SHRI P.M. JAGTAP, AM AND SHRI SANJAY GARG, J M ($($ $') 383 /MUM/2012 ARISING OUT OF ITA NO. 3761/MUM/2009 ( &) % $,% &) % $,% &) % $,% &) % $,% / / / / ASSESSMENT YEAR : 2005-06) ASSTT. COMMISSIONER OF INCOME TAX, LARGE TAX PAYER UNIT, CENTRE -1, 28 TH FLOOR, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI 400 005. ) )) ) / VS. M/S INDUSTRIAL DEVELOPMENT BANK OF INDIA LTD., IDBI TOWER, 3 RD FLOOR, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI 400 005. #. !./ PAN : AAACI 1105R ( ./ / // / APPELLANT ) .. ( 01./ / RESPONDENT ) ./ 2 3 ! / APPLICANT BY : SHRI RAJESH RANHAN PRASAD 01./ 2 3 ! / RESPONDENT BY : SHRI C. KARTHIKEYAN NAIR !)$ 2 / // / DATE OF HEARING : 12-7-2013 45, 2 / DATE OF PRONOUNCEMENT : 12-7-2013 '6 / O R D E R PER P.M. JAGTAP, A.M . : BY THIS MISC. APPLICATION, THE REVENUE IS SEEKING R ECALL OF THE ORDER OF THE TRIBUNAL DTD. 27-9-2010 PASSED IN ITA NO. 3761/MUM /2009 FOR A.Y. 2005-06 WHEREBY THE APPEAL OF THE REVENUE WAS DISMISSED FOR WANT OF COD APPROVAL. 2. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AN D ALSO PERUSED THE RELEVANT MATERIAL ON RECORD. IT IS OBSERVED THAT IN THE CASE OF ONGC VS. C.C.E. REPORTED IN 104 CTR (SC) 31, THE HONBLE SUPREME COURT HAD DIRECTED THE CENTRAL GOVERNMENT TO SET UP A COMMITTEE ON DISPUTES TO MONITOR THE DISPUTE S BETWEEN THE GOVERNMENT AND MA 383/MUM/2012 2 PUBLIC SECTOR ENTERPRISES AND GIVE CLEARANCE FOR LI TIGATION. IT WAS DIRECTED THAT NO SUCH LITIGATION SHOULD BE PROCEEDED WITH IN THE ABSENCE OF COD APPROVAL. SINCE THERE WAS NO CLEARANCE GIVEN BY THE COD TO THE APPEAL FILED B Y THE REVENUE IN THE CASE OF THE ASSESSEE, A PUBLIC SECTOR ENTERPRISE, THE SAID APPE AL WAS DISMISSED BY THE TRIBUNAL VIDE ITS ORDER DATED 27 TH SEPTEMBER, 2010 PASSED IN ITA NO. 3761/MUM/2009 FO R WANT OF SUCH APPROVAL. AS SUBMITTED BY THE LEARNED D.R., T HE LARGER BENCH OF FIVE JUDGES OF THE HONBLE SUPREME COURT VIDE ITS ORDER DATED 17 TH FEBRUARY, 2011 PASSED IN THE CASE OF ELECTRONICS CORPORATION OF INDIA LTD. VS. UOI (C IVIL APPEAL NO. 1883 OF 2011) HAS RECALLED THE DIRECTIONS GIVEN IN THE CASE OF ONGC ( SUPRA) OBSERVING THAT THE MECHANISM OF COD APPROVAL HAS OUTLIVED ITS UTILITY IN THE CHANGED SCENARIO. THE ORDER PASSED BY THE TRIBUNAL DATED 27 TH SEPTEMBER, 2010 PASSED IN ITA NO. 3761/MUM/2009 DISMISSING THE APPEAL OF THE REVENUE FOR WANT OF CO D APPROVAL THUS IS NOT IN CONSONANCE WITH THE DECISION OF THE LARGER BENCH OF THE HONBLE SUPREME COURT IN THE CASE OF ELECTRONICS CORPORATION OF INDIA LTD. (SUPR A) AND THERE IS A MISTAKE TO THAT EXTENT IN THE SAID ORDER WHICH IS APPARENT FROM REC ORD. WE, THEREFORE, RECALL THE SAID ORDER DISMISSING THE APPEAL OF THE REVENUE FOR A.Y. 2005-06 AND RESTORE THE APPEAL OF THE REVENUE TO ITS ORIGINAL NUMBER WITH A DIRECTION TO THE REGISTRY TO FIX THE SAME FOR HEARING AFRESH. 3. IN THE RESULT, THE MISS. APPLICATION FIL ED BY THE REVENUE IS ALLOWED. 7 8 #$ 2 ($($ $') #$ 9 2 :; ORDER PRONOUNCED IN THE OPEN COURT ON 12-07-2013. . '6 2 45, <')8 1 2 -0 7 -2013 5 2 SD/- SD/- (SANJAY GARG) ( P.M. JAGTAP ) !'# / JUDICIAL MEMBER & !'# / ACCOUNTANT MEMBER MUMBAI ; <') DATED 12 / 07/2013 $.&).!./ RK , SR. PS MA 383/MUM/2012 3 '6 2 0&G( H(, '6 2 0&G( H(, '6 2 0&G( H(, '6 2 0&G( H(,/ COPY OF THE ORDER FORWARDED TO : 1. ./ / THE APPELLANT 2. 01./ / THE RESPONDENT. 3. I () / THE CIT(A)- MUMBAI CONCERNED 4. I / CIT MUMBAI CONCERNED 5. ($L 0&&) , , / DR, ITAT, MUMBAI D BENCH 6. M% N / GUARD FILE. '6)! '6)! '6)! '6)! / BY ORDER, !1( 0& //TRUE COPY// O O O O/ // /!: !: !: !: ( DY./ASSTT. REGISTRAR) , , , , / ITAT, MUMBAI