ACIT (OSD) CIR 2(1), V. GIC ASEST MANAGEMENT CO., LTD,

MA 747/MUM/2009

• Counselvise Citation: [2010] 119 COUNSELVISE.COM (IT) 3847 (ITAT-MUMBAI)
• Duration Of Justice: 8 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 30-07-2010
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: G
• Assessment Year: 2003-2004
• Appeal Filed On: 09-11-2009
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: HARIGOVIND SINGH

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL 'G' BENCH, MUMBAI BEFORE SHRI N.V. VASUDEVAN, JUDICIAL MEMBER AND SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER MA NO. 747/MUM/2009 (ARISING OUT OF ITA NO. 4604/MUM/2007) (ASSESSMENT YEAR: 2003-04) ACIT (OSD), CIRCLE 2(1) M/S. GIC ASSET MANAGEMENT C O. LTD. ROOM NO. 561, 5TH FLOOR 22ND FLOOR, PHIROZA JEEJEEB HOY TOWERS AAYAKAR BHAVAN, M.K. ROAD VS. DALAL STREET, MUMBAI 400023 MUMBAI 400020 PAN - AAACC 1263 A APPLICANT RESPONDENT APPLICANT BY: SHRI HARI GOVIND SINGH RESPONDENT BY: SHRI DEEPAK SHAH O R D E R PER B. RAMAKOTAIAH, A.M. THE REVENUE THROUGH THIS MISCELLANEOUS APPLICATION REQUESTS THE TRIBUNAL TO RECALL THE ORDER DISMISSING THE APPEAL IN RESPECT OF ITA NO. 4604/MUM/2007 DATED 20.03.2009 FOR WANT OF COD PERM ISSION. 2. THE LEARNED D.R. REFERRING TO THE MISCELLANEOUS APP LICATION EXPLAINED THAT THE COD WAS NOT AVAILABLE ON THE EARLIER OCCAS ION BUT NOW THE COD HAS ACCORDED APPROVAL FOR APPEALING TO THE ITAT ON THE ISSUE OF ALLOWANCE OF SET OFF OF SHORT TERM CAPITAL GAINS AGAINST LONG CAPITA L LOSES U.S 74 AND FILED A COPY OF THE SAME ALONG WITH THE APPLICATION. 3. IN VIEW OF THE FACT THE REVENUE HAS OBTAINED COD PE RMISSION FOR A.Y. 2003-04, WE RECALL THE ORDER OF THE TRIBUNAL DATED 20.03.2009 FOR THE PURPOSE OF HEARING THE APPEAL IN ITA NO. 4604/MUM/2 007 AND REGISTRY IS DIRECTED TO POST THE CASE AFRESH FOR HEARING IN DUE COURSE. 4. IN THE RESULT, M.A. FILED BY THE REVENUE IS ALLOWED . ORDER PRONOUNCED IN THE OPEN COURT ON 30 TH JULY 2010. SD/- SD/- (N.V. VASUDEVAN) (B. RAMAKOTAIAH) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DATED: 30 TH JULY 2010 MA NO. 747/MUM/2009 M/S. GIC ASSET MANAGEMENT CO. LTD. 2 COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) II, MUMBAI 4. THE CIT II, MUMBAI CITY 5. THE DR, G BENCH, ITAT, MUMBAI BY ORDER //TRUE COPY// ASSISTANT REGISTRAR ITAT, MUMBAI BENCHES, MUMBAI N.P.