Life Insurance Corporation of India vs Income Tax Officer, Patiala

M.M. Kumar, J.—This is assessee''s appeal filed u/s 260A of the income tax Act, 1961 (for brevity, ''the Act''), challenging order dated 10-11-2006, passed by the income tax Appellate Tribunal, Chandigarh Bench-B (for brevity, ''the Tribunal''), in lTA No. 24/CHD/2006, in respect of assessment year 2000-01. The respondents herein are income tax Officer, Additional Ward No. 5, Patiala and the Commissioner of income tax (Appeals), Patiala. As the dispute was between Union of India and undertaking of the Union of India, we had granted opportunity to the counsel for the appellant to seek instructions as to whether any proposal for approval of this case has been sent to the Committee of Disputes (COD) in the light or the observations made by Hon''ble the Supreme Court in the cases of Oil & Natural Gas Commission v. Collector of Central Excise [1992] 104 CTR 31 and Oil & Natural Gag Commission v. Collector of Central Excise [1994] 116 CTR 643 (SC). No information in that regard has been furnished and, therefore, it is not clear whether the proposal has been approved or not.

In view of above we dispose of the appeal by giving liberty to the appellant to file appropriate application for revival of the appeal if such a necessity arises on the basis of the decision taken by the Committee of Disputes. The appeal has been disposed of by adopting the same course as was adopted by Madras High Court in the case of Commissioner of Income Tax Vs. Neyveli Lignite Corporation Ltd.,