DCIT 1(3), V. THE NEW INIDA ASSURANCE CO. LTD,

MA 394/MUM/2012

• Counselvise Citation: [2013] 124 COUNSELVISE.COM (IT) 0056 (ITAT-MUMBAI)
• Duration Of Justice: 7 month(s) 11 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 01-02-2013
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2005-2006
• Appeal Filed On: 20-06-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

, , , , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES B, MUMBAI .. , ! ' , # !, $ BEFORE SHRI R.S.SYAL, AM AND SHRI VIVEK VARMA, JM '' !% ./ MA NO.394/MUM/2012 ( '() * / ARISING OUT OF ITA NO.2276/MUM/2009) ( #% + #% + #% + #% + / / / / ASSESSMENT YEAR : 2005-2006) THE DY.COMMISSIONER OF INCOME-TAX CIRCLE 1(3) MUMBAI. M/S.THE NEW INDIA ASSURANCE CO.LTD. 87 M.G.ROAD, FORT MUMBAI 400 001. PAN : AAACN4165C ( ! / // / APPLICANT) % % % % / VS. ( ,-.// RESPONDENT) ! 0 00 0 1 1 1 1 / APPLICANT BY : SHRI VIJAY KUMAR JAISWAL ,-./ 0 1 0 1 0 1 0 1 / RESPONDENT BY : SHRI FARROKH IRANI % 0 ) / / / / DATE OF HEARING : 01.02.2013. 23+ 0 ) / DATE OF PRONOUNCEMENT : 01.02.2013. !4 !4 !4 !4 / / / / O R D E R PER R.S.SYAL, AM : THIS MISCELLANEOUS APPLICATION U/S.254(2) OF THE IN COME-TAX ACT, 1961 HAS BEEN MOVED BY THE REVENUE PRAYING FOR THE RECALLING OF THE ORDER OF THE TRIBUNAL DATED 04.11.2010 IN IT A NO.2276/MUM/2009, WHICH WAS DISMISSED BY THE TRIBUN AL FOR WANT OF COD APPROVAL. 2. THE LEARNED DEPARTMENTAL REPRESENTATIVE CONTENDE D THAT THE TRIBUNAL DISMISSED THIS APPEAL FOR WANT OF COD PERM ISSION. HE RELIED ON THE JUDGMENT OF THE HONBLE SUPREME COURT IN ELECTRONICS CORPORATION OF INDIA LTD. VS. UNION OF INDIA & ORS. [(2011) 332 ITR MA NO.394/MUM/2012 M/S.THE NEW INDIA ASSURANCE CO.LIMITED. 2 58 (SC)] FOR THE PROPOSITION THAT THE COD PERMISSION IS NO LONGER REQUIRED TO BE TAKEN AND THUS REQUESTED THAT THE IM PUGNED ORDER BE RECALLED. THE LEARNED COUNSEL FOR THE ASSESSEE DID NOT RAISE ANY SERIOUS OBJECTION TO THE ARGUMENTS ADVANCED ON BEHA LF OF THE REVENUE. 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 INCLU DING ONGC VS. CCE [(1992) 104 CTR (SC) 31] REQUIRING THE PERMISSION TO BE TAKEN FROM COD AS A PRE-CONDITION TO PROSECUTE THE APPEAL S, HAVE OUTLIVED THEIR UTILITY IN THE CHANGED SCENARIO AS THE MECHAN ISM HAS NOT ACHIEVED THE DESIRED RESULTS RATHER HAS LED TO MORE LITIGATION. THE SAID EARLIER JUDGEMENTS HAVE BEEN RECALLED BY THE HONBL E SUPREME COURT IN THE LATTER JUDGMENT IN ELECTRONICS CORPORATION OF INDIA (SUPRA) . IN THE LIGHT OF THIS LATTER JUDGMENT RENDERED BY THE H ONBLE APEX COURT, NOW THERE IS NO LONGER ANY REQUIREMENT TO SEEK PER MISSION FROM COD. AS SUCH, PARTIES CANNOT BE IMPRESSED UPON TO O BTAIN THE APPROVAL FROM COD FOR PROSECUTING THEIR APPEALS BEF ORE THE TRIBUNAL. THE IMPUGNED ORDER IS, THEREFORE, RECALLED. THE REG ISTRY IS DIRECTED TO FIX THIS APPEAL FOR HEARING IN APRIL, 2013AFTER DUE NOTICE TO BOTH THE SIDES. MA NO.394/MUM/2012 M/S.THE NEW INDIA ASSURANCE CO.LIMITED. 3 4. 5 )6 ! 0 '' !% ) 0 7) 89 : IN THE RESULT, THE MISCELLANEOUS APPLICATION IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 1 ST DAY OF FEBRUARY, 2013 . !4 0 23+ ;!%6 3 0 < SD/- SD/- (VIVEK VARMA) (R.S.SYAL) # ! # ! # ! # ! / JUDICIAL MEMBER ! ! ! ! / ACCOUNTANT MEMBER MUMBAI ; ;!% DATED : 1 ST FEBRUARY, 2013. DEVDAS* !4 0 ,#)=' >'+) !4 0 ,#)=' >'+) !4 0 ,#)=' >'+) !4 0 ,#)=' >'+)/ COPY OF THE ORDER FORWARDED TO : 1. ! / THE APPLICANT. 2. ,-./ / THE RESPONDENT. 3. ? () / THE CIT(A) XXI, MUMBAI. 4. ? / CIT 5. 'B< ,#)#% , , / DR, ITAT, MUMBAI 6.