Dy. CIT, Circle-3(2), Hyderabad V. State Bank of Hyderabad, Hyderabad

MA 61/HYD/2014

• Counselvise Citation: [2014] 124 COUNSELVISE.COM (IT) 2308 (ITAT-HYDERABAD)
• Duration Of Justice: 4 month(s) 24 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 13-08-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2005-2006
• Appeal Filed On: 20-03-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S O LGY JOSE T KOTTARAM
• Assessee Lawyers: G KALYAN DAS
• Keywords: Retrospective amendment
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A, HYDERABAD BEFORE SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER AND SMT. ASHA VIJAYARAGHAVAN, JUDICIAL MEMBER MA NO. 61/HYD/2014 IN ITA NO. 584/HYD/2008 ASSESSMENT YEAR 2005-06 THE DEPUTY CIT CIRCLE-3(2) HYDERABAD VS. M/S. STATE BANK OF HYDERABAD, HYDERABAD PAN: AADCS4009H APPLICANT RESPONDENT APPLICANT BY: SRI SOLGY JOSE T. KOTTARAM RESPONDENT BY: SRI G. KALYAN DAS DATE OF HEARING: 20.06.2014 DATE OF PRONOUNCEMENT: 13.08.2014 ORDER PER ASHA VIJAYARAGHAVAN, J.M.: BY THIS MISCELLANEOUS APPLICATION (MA) THE APPLICA NT SEEKS RECALL OF THE TRIBUNAL ORDER IN ITA NO. 584/H YD/2008 DATED 19 TH MARCH, 2010. 2. THIS MA IS FILED BY THE DCIT, CIRCLE-3(2), HYDERABA D WHO PRESENTLY HOLDS THE JURISDICTION OVER THE ASSES SEE I.E., STATE BANK OF HYDERABAD, HYDERABAD. 3. AN ASSESSMENT WAS MADE U/S. 143(3) OF THE INCOME- TAX ACT, 1961 IN THE CASE OF THE ASSESSEE FOR A.Y. 2005-06 ON 23 RD MARCH, 2007 DETERMINING THE TOTAL INCOME AT RS. 997,18,16,799. AGGRIEVED BY THE ASSESSMENT MADE, T HE ASSESSEE PREFERRED AN APPEAL BEFORE THE CIT(A)-IV, HYDERABAD. THE CIT(A)-IV, HYDERABAD PASSED AN ORDE R IN APPEAL NO. ITA NO. 0020/DC3(2)/CIT(A)-IV/2006-07 ON 2 MA NO. 61/HYD/2014 M/S. STATE BANK OF HYDERABAD ======================= 31.1.2008 AND THE APPEAL WAS PARTLY ALLOWED. AGGRI EVED BY THE ORDER OF THE CIT(A)-IV, HYDERABAD, THE THEN DCIT, CIRCLE-3(2), HYDERABAD, WHO HELD THE JURISDICTION O VER THE ASSESSEE, FILED AN APPEAL BEFORE THE TRIBUNAL, HYDE RABAD. THE TRIBUNAL VIDE ITS ORDER IN ITA NO. 584/HYD/2008 DATED 19 TH MARCH, 2010 FOR A.Y. 2005-06 DISMISSED THE APPEAL FILED BY THE DEPARTMENT FOR WANT OF APPROVAL FROM T HE COD. 4. THE DR OF THE DEPARTMENT SUBMITTED THAT SINCE THE APPEAL WAS DISMISSED ON THE SOLE GROUND THAT THE PERMISSION OF THE COD WAS NOT OBTAINED BY THE DEPARTMENT TO PURSUE ITS APPEAL BEFORE THE ITAT, NO W THE TRIBUNAL MAY RECALL ITS ORDER FOR FRESH CONSIDERATI ON AND DISPOSAL OF THE APPEAL ON MERIT IN THE LIGHT OF THE HONBLE SUPREME COURT'S DECISION IN THE CASE OF ELECTRONICS CORPORATION OF INDIA LTD. VS. UNION OF INDIA & OTHE RS. 5. THE LEARNED COUNSEL FOR THE ASSESSEE SRI G. KALYAN DAS ARGUED THAT ONLY PROSPECTIVE EFFECT CAN BE GIVE N AND, THEREFORE, THE JUDGEMENT OF SUPREME COURT IN ELECTR ONICS CORPORATION OF INDIA LTD. VS. UNION OF INDIA & OTHE RS REPORTED IN 232 ITR 58 (SC) CANNOT BE MADE APPLICAB LE TO THE PRESENT REVENUE APPEAL. HE STRESSED THAT IN PR INCIPLE RETROSPECTIVE EFFECT CANNOT BE GIVEN TO THE JUDGEME NT OF THE SUPREME COURT. FURTHER, HE SUBMITTED THAT THE ORDER OF THE ITAT IN ITA NO. 584/HYD/2008 FOR A.Y. 2005-06 W HICH DISMISSED THE APPEAL FILED BY THE REVENUE FOR WANT OF APPROVAL FROM COD IS DATED 19 TH MARCH, 2010 WHEREAS THE JUDGEMENT OF SUPREME COURT HAS BEEN PRONOUNCED ONLY ON 17.2.2011 MUCH AFTER THE ITAT DECISION. 6. WE HAVE HEARD BOTH THE PARTIES. THE ORDER BY THE ITAT IN ITA NO. 584/HYD/2008 HAS BEEN PASSED ON 3 MA NO. 61/HYD/2014 M/S. STATE BANK OF HYDERABAD ======================= 19.3.2010 AND THE MA NO. 61/HYD/2014 HAS BEEN SIGNE D ON 29.1.2014 AFTER A LAPSE OF MORE THAN 3 YEARS. THE INORDINATE DELAY IN PREFERRING THE MA CANNOT BE CON DONED. MOREOVER, THE ORDER OF ITAT WAS DATED 19.3.2010 WHE REAS THE PRESENT APPLICATION WAS FILED ON 20.03.2014 AFT ER FOUR YEARS. THEREFORE, WE DISMISS THE MA OF THE ASSESSE E. 7. IN THE RESULT, THE REVENUE'S MA IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON 13 TH AUGUST, 2014 SD/- (B. RAMAKOTAIAH) ACCOUNTANT MEMBER SD/- (ASHA VIJAYARAGHAVAN) JUDICIAL MEMBER HYDERABAD, DATED THE 13 TH AUGUST, 2014 TPRAO COPY TO: 1. THE DEPUTY CIT, CIRCLE - 3(2), HYDERABAD . 2. THE DEPUTY GENERAL MANAGER, STATE BANK OF HYDERABAD, ACCOUNTS & SERVICES DEPT., HEAD OFFICE, GUNFOUNDRY, HYDERABAD-500 001. 3. THE CIT(A) - IV, HYDERABAD. 4. THE CIT - I II , HYDERABAD. 5. THE DR, A - BENCH, ITAT, HYDERABAD.