ASST CIT (LTU), V. DEPOSIT INSURANCE AND CREDIT GURANTEE CORPORATION,

MA 398/MUM/2012

• Counselvise Citation: [2013] 124 COUNSELVISE.COM (IT) 0597 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 1 month(s) 3 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 24-07-2013
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2006-2007
• Appeal Filed On: 20-06-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: SITARAM PAREEK SHRI P K SHUKLA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH D, MUMBAI BEFORE SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER AND DR. S.T.M. PAVALAN, JUDICIAL MEMBER MA NO. 398/MUM/2012 ARISING OUT OF ITA NO. 6001/M/2009 ASSESSMENT YEAR : 2006-07 ASTT. CIT LARGE TAX PAYER UNIT CENTRE-1, 28 TH FLOOR WORLD TRADE CENTRE CUFFE PARADE MUMBAI-400 005. VS. M/S. DEPOSIT INSURANCE & CREDIT GUARANTEE CORPORATION RBI BLDG. 2 ND FLOOR OPP. MUMBAI CENTRAL RLY STN. NR. MARATHA MANDIR, BYCULLA MUMBAI-400 008. PAN NO. AAACD 2094 E ( APPLICANT ) (RESPONDENT) ASSESSEE BY : SHRI SITARAM PAREEK REVENUE BY : SHRI P.K. SHUKLA DATE OF HEARING : 12/07/2013 DATE OF PRONOUNCEMENT : 24 /07/2013 O R D E R PER B. RAMAKOTAIAH, AM: THIS MISCELLANEOUS APPLICATION PREFERRED BY THE ACI T MUMBAI IS AGAINST THE ORDER OF THE ITAT IN ITA NO.6001/MUM/09 DATED 21.06.10 DISMISSING THE APPEAL FILED BY THE DEPARTMENT FOR W ANT OF COD APPROVAL WITH LIBERTY TO RECALL THIS ORDER IN THE EVENT OF C OD GRANTING PERMISSION TO THE APPELLANT TO PURSUE THIS APPEAL. 2. THE PRESENT MISCELLANEOUS APPLICATION WAS PREFER RED AS THE HON'BLE SUPREME COURT IN THE CASE OF ELECTRONICS CORPORATION OF INDIA LTD. IN CIVIL APPEAL NO.1883 OF 2011 DATED 17.02.2011 STATED THAT COD CLEARANCE IS NO LONGER REQUIRED. ACCORDINGLY, THE A O SEEKS RESTORATION OF THE APPEAL. THE LD. DR RELIED ON THE CONTENTIONS MA DE IN THE MA NO.398/M/12 ITA NO.6001/M/09 A.Y.06-07 DEPOSIT INSURANCE & C REDIT GUARANTEE CORPN. 2 MISCELLANEOUS APPLICATION WHEREAS THE LD. COUNSEL S UBMITTED THAT THERE IS NO NEED TO RECALL THE ISSUE AS SIMILAR ISSUE WAS CONSIDERED BY THE HONBLE ITAT IN ITA NO.2361/MUM/11 FOR ASSESSMENT Y EAR 2007-08 WHEREIN IT WAS CONSIDERED THAT BEING THE FIRST YEAR , PROVISIONS OF SECTION 40(A)(IA) ARE NOT APPLICABLE TO ASSESSMENT YEAR 200 7-08 WHEREAS THE SAME ARE APPLICABLE FOR ASSESSMENT YEAR 2008-09. SI NCE THE IMPUGNED ASSESSMENT YEAR IS 2006-07, IT WAS SUBMITTED THAT T HE SAME FINDING WILL APPLY TO THIS YEAR ALSO. 3. WE HAVE CONSIDERED THE ISSUE. WE HAVE TO ADMIT T HAT IN THE MISCELLANEOUS APPLICATION TO RECALL THE ORDER DISMI SSING APPEAL AS UNADMITTED, WE CAN NOT DECIDE MERITS OF THE APPEAL. AT THE TIME OF DISMISSAL OF THE APPEAL FOR WANT OF COD APPROVAL, A N OPTION WAS GIVEN TO THE REVENUE TO MOVE APPLICATION FOR RECALLING THIS ORDER AND RESTORATION OF THIS APPEAL IF APPROVAL WAS OBTAINED AT A LATER POI NT OF TIME. HOWEVER, THE ENTIRE PROCEDURE OF CLEARANCE FROM COD WAS WITHDRAW N BY THE JUDGMENT OF HON'BLE SUPREME COURT IN THE CASE OF ELECTRONICS CORPORATION OF INDIA LTD. (SUPRA). CONSEQUENTLY, THE REVENUE WILL BE FREE TO MAKE AN APPLICATION FOR RECALL OF THE ORDER AND RESTORATION OF APPEAL. THEREFORE, WITHOUT GOING TO THE MERITS OF THE REVENUE APPEAL, WE RECALL THE ORDER DATED 28.06.2010 AND RESTORE THE APPEAL IN ITA NO.6 001/MUM/09 FOR CONSIDERATION ON MERITS. REGISTRY IS DIRECTED TO PO ST THE CASE BY ISSUING NOTICE TO THE PARTIES. APPEAL IS RESTORED. 4. MISCELLANEOUS APPLICATION IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 24 TH JULY, 2013. SD/- SD/- (DR. S.T.M. PAVALAN ) JUDICIAL MEMBER (B. RAMAKOTAIAH ) ACCOUNTANT MEMBER MUMBAI, DATED: 24/07/2013. JV. MA NO.398/M/12 ITA NO.6001/M/09 A.Y.06-07 DEPOSIT INSURANCE & C REDIT GUARANTEE CORPN. 3 COPY TO: THE APPELLANT THE RESPONDENT THE CIT, CONCERNED, MUMBAI THE CIT(A) CONCERNED, MUMBAI THE DR BENCH TRUE COPY BY ORDER DY/ASSTT. REGISTRAR, ITAT, MUMBAI.