2010 (10) TMI 1174 - HC - Income Tax

Summary

Issues involved: Condonation of delay in re-filing the appeal, withdrawal of appeal with liberty to re-file, settlement efforts by Committee On Disputes (COD), approval for re-filing the appeal.

Condonation of delay in re-filing the appeal:
The application for condonation of delay in re-filing the appeal was considered by the Court. After hearing the learned counsel for the appellant and reviewing the averments in the application, the delay was condoned, and the application was disposed of.

Withdrawal of appeal with liberty to re-file:
The appellant, Container Corporation of India Ltd., had initially preferred an appeal (ITA No.477/2010). The Court allowed the appellant to withdraw the appeal with liberty to re-file, based on the submission that the Corporation had approached the Committee On Disputes (COD) for permission to prefer the appeal. The Court emphasized that the revenue could oppose the prayer for condonation of delay depending on the time taken for approval or settlement efforts.

Settlement efforts by Committee On Disputes (COD):
The appellant's counsel mentioned that the Committee was still working towards a settlement, indicating ongoing efforts in that direction. The Court permitted the withdrawal of the appeal with the liberty to file a fresh appeal after obtaining approval in positive terms. The counsel for the Revenue also acknowledged that if an appeal is filed after obtaining due approval, the Revenue would not oppose the application for condonation of delay.