ASST CIT 2(3), V. DENA BANK,

MA 523/MUM/2012

• Counselvise Citation: [2013] 124 COUNSELVISE.COM (IT) 0020 (ITAT-MUMBAI)
• Duration Of Justice: 7 month(s) 12 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 22-03-2013
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: D
• Next Hearing Date: 08-03-2013
• Assessment Year: 1996-1997
• Appeal Filed On: 09-08-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: MRS LALITHA RAMESWARAN

Judgement Text

, , , , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES D, MUMBAI .. , ! ' # , $ ' % BEFORE SHRI R.S.SYAL, AM AND SHRI VIVEK VARMA ## '& ./ MA NO.523/MUM/2012 ( ()* + / ARISING OUT OF ITA NO.139/MUM/2000) ( $& , $& , $& , $& , / / / / ASSESSMENT YEAR : 1996-1997) THE ASSTT.COMMISSIONER OF INCOME-TAX CIRCLE 2(3) MUMBAI. M/S.DENA BANK 17 HORNIMAN CIRCLE, 2 ND FLOOR FORT, MUMBAI 400 023. PAN : AAACD4249B. ( ' / // / APPLICANT) & & & & / VS. ( -./0/ RESPONDENT) ' 1 11 1 2 2 2 2 / APPLICANT BY : MS.NEERAJA PRADHAN -./0 1 2 1 2 1 2 1 2 / RESPONDENT BY : MRS.LALITHA RAMESWARAN & 1 *! / / / / DATE OF HEARING : 22.03.2013. 34, 1 *! / DATE OF PRONOUNCEMENT : 22.03.2013. ' 5 ' 5 ' 5 ' 5 / / / / O R D E R PER R.S.SYAL, AM : THIS MISCELLANEOUS APPLICATION U/S.254(2) OF THE IN COME-TAX ACT, 1961 (HEREINAFTER CALLED `THE ACT) HAS BEEN MOVED BY THE ASSESSEE PRAYING FOR THE RECALLING OF THE ORDER OF THE TRIBUNAL DATED 23 RD FEBRUARY, 2011 IN ITA NO.139/MUM/2000 FOR THE CAPT IONED ASSESSMENT YEAR. 2. THE LEARNED DEPARTMENTAL REPRESENTATIVE LEARNED CONTENDED THAT THE TRIBUNAL DISMISSED THE APPEAL FOR WANT OF COD PERMISSION. IT WAS ARGUED THAT SINCE THE ASSESSEE IS NOT A GOVERNM ENT COMPANY, IN FACT, NO APPROVAL, AT ALL, WAS REQUIRED TO BE TAKE N FROM COD, WHICH CONTENTION WAS OMITTED TO BE PUT FORTH AT THE TIME OF HEARING. HE MA NO.523/MUM/2012 M/S.DENA BANK. 2 RELIED ON THE JUDGMENT OF THE HONBLE SUPREME COURT IN ELECTRONICS CORPORATION OF INDIA LTD. VS. UNION OF INDIA & ORS. [(2011) 332 ITR 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 JUDGMENTS ON THE POINT INCLUD ING ONGC V. CCE [(1992) 104 CTR (SC) 31] REQUIRING THE PERMISSION TO BE TAKEN FROM COD AS A PRE-CONDITION TO PROSECUTE THE APPEALS, HA VE OUTLIVED THEIR UTILITY IN THE CHANGED SCENARIO AS THE MECHANISM HA S NOT ACHIEVED THE DESIRED RESULTS RATHER HAS LED TO MORE LITIGATION. THE SAID EARLIER JUDGMENTS HAVE BEEN RECALLED BY THE HONBLE SUPREM E COURT IN THE LATTER JUDGMENT IN ELECTRONICS CORPORATION OF INDIA (SUPRA) . IN THE LIGHT OF THIS LATTER JUDGMENT RENDERED BY THE HONB LE APEX COURT, NOW THERE IS NO MORE ANY REQUIREMENT TO SEEK PERMIS SION FROM COD. AS SUCH, PARTIES CANNOT BE IMPRESSED UPON TO OBTAIN THE APPROVAL FROM COD FOR PROSECUTING THEIR APPEALS BEFORE THE T RIBUNAL. THE IMPUGNED ORDER IS, THEREFORE, RECALLED AND THE REGI STRY IS DIRECTED TO FIX THIS APPEAL FOR HEARING 17 TH JUNE, 2013. THIS DATE WAS ANNOUNCED IN THE OPEN COURT ON THE CONCLUSION OF HEARING. BOT H THE SIDES HAVE MA NO.523/MUM/2012 M/S.DENA BANK. 3 NOTED THE FRESH DATE OF HEARING. ACCORDINGLY, NO SE PARATE NOTICE NEED BE SENT FOR SUCH HEARING. 4. IN THE RESULT, THE MISCELLANEOUS APPLICATION IS ALLOWED. ORDER PRONOUNCED ON THIS 22 ND DAY OF MARCH, 2013. ' 5 1 34, 6'&7 4 1 8 SD/ SD/- (VIVEK VARMA) (R.S.SYAL) $ ' $ ' $ ' $ ' / JUDICIAL MEMBER ! ' ! ' ! ' ! ' / ACCOUNTANT MEMBER MUMBAI ; 6'& DATED : 22 ND MARCH, 2013. DEVDAS* ' 5 1 -$*9# : #,* ' 5 1 -$*9# : #,* ' 5 1 -$*9# : #,* ' 5 1 -$*9# : #,*/ COPY OF THE ORDER FORWARDED TO : 1. ' / THE APPLICANT. 2. -./0 / THE RESPONDENT. 3. ; () / THE CIT(A) XVI, MUMBAI. 4. ; / CIT 5. #>8 -$*$& , , / DR, ITAT, MUMBAI 6. 8 ? / GUARD FILE. ' 5& ' 5& ' 5& ' 5& / BY ORDER, .#* -$* //TRUE COPY// ( ( ( (/ // /@ A @ A @ A @ A ( DY./ASSTT. REGISTRAR) , , , , / ITAT, MUMBAI