Income Tax Appellate Tribunal Chennai Indian Overseas Bank, Chennai vs Department Of Income Tax on 23 September, 2011 IN THE INCOME TAX APPELLATE TRIBUNAL 'C' BENCH : CHENNAI [BEFORE SHRI HARI OM MARATHA, JUDICIAL MEMBER AND SHRI N.S. SAINI, ACCOUNTANT MEMBER] M.P.Nos.161, 162 & 163/Mds/2011 [In I .T.A Nos. 391/Mds/09, 1566/Mds/08 & 393/Mds/09 ] Assessment years : 198990, 200405 & 200506 The Dy. CIT vs Indian Overseas Bank Large Taxpayer Unit 763, Mount Road Chennai Chennai 600 002 [PAN AAACI 1223J] (Petitioner) (Respondent) Petitioner by : Shri Sanjay Deshmukh, DR Respondent by : Shri C.Naresh, CA Date of Hearing : 23092011 Date of Pronouncement : 23092011 ORDER PER HARI OM MARATHA, JUDICIAL MEMBER: These miscellaneous petitions have been filed by the Revenue for recalling of the Tribunal orders dated 13.8.2009 and 22.1.2209, vide which the appeals of the Revenue were dismissed for want of permission of the Committee on Disputes(COD). The Revenue was given liberty to get the orders recalled once it obtains the requisite COD permission. 2. It has been pleaded that in view of the decision of Hon'ble Supreme Court rendered recently in the case of Electronics Corporation : 2 : M.P 161,162&163/2011 of India Ltd vs Union of India, 2011TIOL18SCCXCB, judgment dated 17.2.2011, in Civil Appeal Nos.1883 of 2011 SLP(C) No.2538 of 2009, it has been categorically held that for pursuing litigation between PSUs and the Government, there is no longer a need to obtain permission of COD. The reason for arriving at the above conclusion has been stated to be that although the object in getting COD permission is laudatory but the mechanism involved in the process leads to delays in litigation and as such, the mechanism has outlived its utility. It has been observed by their Lordships that in the changed scenario the existing directions to obtain COD permission has outlived so it is being recalled and hereinafter, there is no need for such permission of COD to pursue litigation between PSUs and Government. Since the judgment of Apex Court becomes the law of the land in view of Article 141 of the Constitution of India, it would be deemed that on the date of orders passed on 13.8.2009 and 22.1.2009 by this Bench there was no need for permission of the COD to pursue the dispute by the petitioner against the PSU. Since a mistake apparent from record has crept into the orders of the Tribunal, we recall the same and direct the Registry to fix the appeals for hearing in due course. 3. It is to be noted that vide order dated 13.8.2010 in M.P.No. 100/Mds/2010 the Tribunal has recalled its order in I.T.A.No. : 3 : M.P 161,162&163/2011 1566/Mds/ 2008 for assessment year 200405, in respect of only one issue as per the COD approval obtained by the Revenue. In view of the Hon'ble Supreme Court decision (supra), we recall the Tribunal order qua on all the three issues involved in this appeal. 4. In the result, the M.P.Nos.161 and 162/Mds/2011 stand allowed. 5. As regards I.T.A.No. 393/Mds/2009 vide order dated 4.6.2010 in M.P.No.83/Mds/2010, the Tribunal has recalled its order dated 13.8.2009 in view of the COD approval obtained by the Revenue, but the Revenue has inadvertently again filed the present M.P. bearing no.163/Mds/2011. We, therefore, dismiss the same. 6. To summarize the result, M.P.Nos.161 & 162/Mds/2011 stand allowed whereas M.P.No.163/Mds/2011 stands dismissed. Order pronounced in the open court on 23.9.2011 Sd/ Sd/ (N.S.SAINI) ( HARI OM MARATHA ) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated: 23rd September, 2011 RD Copy to: Petitioner/Respondent/CIT(A)/CIT/DR