Indian Overseas Bank, CHENNAI V. ACIT, CHENNAI

MA 83/CHNY/2012

• Counselvise Citation: [2012] 123 COUNSELVISE.COM (IT) 8562 (ITAT-CHENNAI)
• Duration Of Justice: 28 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 27-07-2012
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 27-07-2012
• Assessment Year: 2003-2004
• Appeal Filed On: 29-06-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: NARESH CA SHRI K SRINIVASAN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, CHENNAI BEFORE SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER AND SHRI VIKAS AWASTHY, JUDICIAL MEMBER .. M.P. NOS. 82 & 83/MDS/2012 (IN I.T.A. NOS. 2489 & 2490/MDS/2006) ASSESSMENT YEARS : 2000-01 & 2003-04 M/S INDIAN OVERSEAS BANK, FUNDS & ACCOUNTS DEPARTMENT, 762, ANNA SALAI, CHENNAI - 600 002. PAN : AAACO1223J (PETITIONER) V. THE ASSISTANT COMMISSIONER OF INCOME TAX, COMPANY CIRCLE II(3), CHENNAI - 600 034 . (RESPONDENT) PETITIONER BY : SHRI NARESH, CA FOR SHRI K. SRINIVASAN RESPONDENT BY : SHRI SHAJI P. JACOB, ADDL. CIT DATE OF HEARING : 27.07.2012 DATE OF PRONOUNCEMENT: 27.07.2012 O R D E R PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER : VIDE THESE MISCELLANEOUS PETITIONS, ASSESSEE PLEA DS RECALL OF THE ORDER OF THIS TRIBUNAL DATED 21 ST AUGUST, 2008, FOR A REASON THAT NO PERMISSION FROM COD IS REQUIRED FOR FILING APPEA LS BEFORE APPELLATE AUTHORITIES AS HELD BY HONBLE APEX COURT IN THE CASE OF ELECTRONICS CORPORATION OF INDIA LTD. V. UNION OF I NDIA (322 ITR 58). M.P. NOS.82 & 83/MDS/12 2 2. WE HAVE SEEN THE ORDER AND HEARD THE RIVAL SUBMI SSIONS. IT IS TRUE THAT WE HAD DISMISSED THE APPEAL IN I.T.A. NOS . 2489 & 2490/MDS/2006 FOR WANT OF COD APPROVAL. IN VIEW OF THE DECISION OF HON'BLE APEX COURT IN THE CASE OF ELECTRONICS CORPO RATION OF INDIA LTD. (SUPRA), WHEREIN IT WAS HELD THAT COD APPROVAL S WERE NO MORE REQUIRED FOR FILING APPEALS, AND ALSO SINCE THIS WA S NOT A CASE WHERE THERE WAS ANY SPECIFIC DENIAL OF PERMISSION BY THE COD, WE FIND THAT IT WOULD BE APPROPRIATE TO RECALL THE ORDER OF THIS TRIBUNAL DATED 21 ST AUGUST, 2008. THUS, I.T.A. NOS. 2489 & 2490/MDS/20 06 ARE RECALLED AND THE REGISTRY IS DIRECTED TO FIX THE APPEALS FOR HEARING ON 12 TH NOVEMBER, 2012. SINCE DATE OF HEARING IS DECLARED IN OPEN COURT, THERE WILL BE NO NOTICE ISSUED ANY OF THE PARTIES. 3. IN THE RESULT, BOTH THE MISCELLANEOUS PETITIONS FILED BY THE ASSESSEE ARE ALLOWED. THE ORDER WAS PRONOUNCED IN THE COURT ON 27 TH JULY, 2012, AT CHENNAI. SD/- SD/- (VIKAS AWASTHY) (ABRAHAM P. GEORGE) JUDICIAL MEMBER ACCOUNTANT MEMBER CHENNAI, DATED THE 27 TH JULY, 2012. KRI. COPY TO: PETITIONER/RESPONDENT/CIT(A)/CIT/D.R./GUA RD FILE