M/s Assest Global Trust Bank Ltd., Secunderabad V. ITO, New Delhi

MA 511/DEL/2010

• Counselvise Citation: [2011] 111 COUNSELVISE.COM (IT) 0377 (ITAT-DELHI)
• Duration Of Justice: 9 month(s) 3 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 04-03-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: Not Allotted
• Assessment Year: misc
• Appeal Filed On: 01-06-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: H K LAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH B DELHI BEFORE SHRI RAJPAL YADAV AND SHRI K.G. BANSAL M.A.NOS. 508 & 509(DEL)/2010 (ARISING OUT OF ITA NO.331(HYD.)/2000-AY 1996-97 ITA NO. 222(HYD.)/2001-AY 1997-98 GLOBAL TRUST BANK, JOINT COMMISSIONER OF (NOW MERGED WITH ORIENTAL BANK INC OME-TAX (ASSTT.) SR-2, OF COMMERCE, F-14, 4 TH FLOOR, VS. HYDERABAD. COMPETENT HOUSE, CONNAUGHT PLACE, NEW DELHI. M.A.NOS. 510 & 511(DEL)/2010 (ARISING OUT OF ITA NO. 443(HYD.)/2003-AY 1999-00 ITA NO. 301(HYD.)/2004-AY 2000-01) GLOBAL TRUST BANK, ASSTT. COMMISSIONER OF (NOW MERGED WITH ORIENTAL BANK INC OME-TAX,CIRCLE 1(4), OF COMMERCE, F-14, 4 TH FLOOR, VS. HYDERABAD. COMPETENT HOUSE, CONNAUGHT PLACE, NEW DELHI. (APPLICANT) (RESPONDENT) APPLICANT BY : SHRI KVSR KRISHNA, CA RESPONDENT BY : SHRI H.K. LAL, SR. DR ORDER PER K.G. BANSAL :AM IN THIS CASE, THE TRIBUNAL HAD PASSED A CONSOL IDATED ORDER ON 11.6.2008 IN WHICH THE APPEALS OF THE ASSESSEE AND THE REVENUE WERE DISMISSED IN LIMINE FOR NOT OBTAINING THE CLEARAN CE FROM THE COD IN FILING APPEALS. THE ASSESSEE FILED APPLICATIONS ON 1 .6.2010 REQUESTING FOR MA NOS. 508TO511(DEL)/2011 2 RECALLING THE ORDER AS NECESSARY CLEARANCES HA VE BEEN RECEIVED FROM THE COD. 2. BEFORE US, IT IS THE COMMON CASE THAT CLEARANC E HAS BEEN GRANTED TO THE ASSESSEE AND THE REVENUE TO PURSUE THE APPE ALS. OUR ATTENTION HAS ALSO BEEN DRAWN TOWARDS THE DECISION OF HONBLE SUPREME COURT IN THE CASE OF ELECTRONICS CORPORATION OF INDIA LTD. & OTHERS IN CIVIL APPEAL NO. 1903 OF 2008, A COPY OF WHICH HAS BEEN PLACED BEFORE US. IT HAS BEEN HELD THAT THE MECHANISM HAS OUTLIVED ITS UTILITY . IN THE CHANGED SCENARIO INDICATED ABOVE, WE ARE OF THE VIEW THAT TIME HAS COME UNDER THE ABOVE CIRCUMSTANCES TO RECALL THE DIRECTIONS OF THIS COU RT IN VARIOUS ORDERS REPORTED IN (I) 1995 SUPP (4) SCC 541 DATED 11.1 0.1991; (II) (2004) 6 SCC 437 DATED 7.1.1994 AND (III) (2007) 7 SCC 39 DATED 20.7.2007. 3. IN VIEW OF THE ABOVE, ALL THE APPEALS OF THE ASSESSEE AND THE REVENUE ARE RECALLED FOR DECIDING THEM ON MERITS. 4. IN THE RESULT, THE APPLICATIONS ARE ALLOWED . THE APPEALS ARE FIXED FOR HEARING ON 05.07.2011. THIS DATE WAS INTIMA TED TO THE RIVAL PARTIES IN MA NOS. 508TO511(DEL)/2011 3 THE OPEN COURT. THE ORDER WAS ALSO PRONOUNCED IN THE OPEN COURT ON 04.03.2011 SOON AFTER COMPLETING OF THE HEARING. (RAJPAL YADAV) (K.G.BANSAL) JUDICIAL MEMBER ACCOUNTANT MEMBER DATE OF ORDER: 4.3.2011. SP SATIA COPY OF THE ORDER FORWARDED TO:- GLOBAL TRUST BANK LTD. (NOW MERGED WITH ORIENTAL BANK OF COMMERCE), NEW DELHI. JOINT CIT, SPECIAL RANGE-2 & ASSTT. CIT, CIRCLE 1( 4), HYDERBAD. CIT(A) CIT THE DR, ITAT, NEW DELHI. ASSISTANT REGISTRAR.