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TMI Blog1992 (9) TMI 115X X X X Extracts X X X X X X X X Extracts X X X X ..... Department and the Public Sector Undertaking of the Union of India has been settled. In that view of the matter no further action is necessary on the petition. 2. In his report the Cabinet Secretary has stated : I would also like to state that the Government respects the views expressed by this Honourable Court and has accepted them that public undertakings of Central Government and the Union of India should not fight their litigation in Court by spending moneys on fees on counsel, court fees, procedural expenses and wasting public time. It is in this context that the Cabinet Secretariat has issued instructions from time to time to all Departments of the Government of India as well as to public undertakings of the Central Government ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng of this system to be furnished to the Registry beginning from 1st January, 1992. 6. Our direction may be communicated to every High Court for information of all the courts subordinate to them. " 3. The assessee being a bank and part of the Government of India after nationalisation, we cannot proceed with the appeal in the absence of the clearance from the Committee as envisaged by the Supreme Court. The Ld. counsel for the assessee, Dr. D. Pal, submitted that the decision expressed only a pleasure or directive of the Supreme Court and that the assessee which was under the control of the Reserve Bank of India is not a public sector undertaking. Therefore, there was no bar on our hearing the appeal. We are however, unable to agree. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not considered necessary. The reasons are very clear. The view expressed by the Hon'ble Supreme Court in the case of Oil Natural Gas Commission has not only been given due respect, but accepted by the Central Government, as reported by the Cabinet Secretary to the Hon'ble Supreme Court that the Public Undertakings of Central Government and the Union of India should not fight their litigation in Court by spending moneys on fees on counsel, court fees, procedural expenses and waste public time. The Cabinet Secretary further issued instructions from time to time to all the Departments of the Government of India as well as to Public Undertakings of the Central Government to the effect that all disputes regardless of the type, should be resolv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e demand as a primary duty is cast upon the litigant parties to settle their dispute in the light of the instructions issued from time to time by the Government of India and in conformity with the directives of the Supreme Court. 8. Pending decision in the matter, it will be for the authorities of the Income-tax Department to consider afresh, whether coercive action against the assessee-bank to realise the arrears will serve the purpose or would be against the spirit of the order of the Supreme Court. Another crucial fact to be kept in view is that on identical facts, the Tribunal has held that interest on sticky loans cannot be added as income, in the case of Allahabad bank. 9. We make it clear that the assessee's counsel did not ask ..... X X X X Extracts X X X X X X X X Extracts X X X X
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