Author: editor

As per order of the Hon’ble President, ITAT dated 10.07.09, the above case will be heard by a Special bench comprising of Shri G.E. Veerabhadrappa, V.P. (DZ), Shri C.L. Sethi, JM and Shri K.D. Ranjan, AM to hear and dispose of the questions on the following points:


1. “Whether, the said Notification (Notification No. GSR 389E dated 03.06.2009) applies to the Members who have retired prior to the date of publication of the Notification?


The substantial question of law arises in the present appeal is regarding the correct interpretation of section 32 and other sections of the Income tax Act, 1961 and whether in the fats and circumstances of the case and in law, the Hon’ble Tribunal is right in holding that the depreciation is allowable on the National Stock Exchange membership card held by the assessee if the card was acquired after 1-4-1998

The following two Orders are available: Source:

Hon’ble Shri. Tilak Raj Sood, Accountant Member, presently posted at Chennai, has been transferred to the Mumbai Bench with effect from 13.7.2009

Under sub-section (10) of section 80-IB an undertaking developing and building housing projects is allowed a deduction of 100% of its profits derived from such projects if it commenced the project on or after 1.10.1998 and completes the construction within four years from the financial year in which the housing project is approved by the local authority.

The President, the Senior Vice-President, the Vice-President and the Members of the Tribunal shall not practice before the Tribunal after retirement from the service of the Tribunal.

Hon’ble Shri. P. Mohanrajan, Judicial Member, presently posted at Hyderabad, has been promoted as the Vice President, Chandigarh Bench with effect from 18.5.2009

The following Hon’ble Members have been transferred in the same capacity, to the Benches of the Income Tax Appellate Tribunal as shown against their names. While the Hon’ble Members at sr. nos. 1 & 2 have been transferred with effect from 30th March 2009, those at sr. nos. 3 & 4 have been transferred with effect from 6th April 2009

Hon’ble Sri D. Manmohan, Vice President, Income tax Appellate Tribunal, Chandigarh Zone, Chandigarh (Hqr. at I.T.A.T. Visakhapatnarn Bench, Vizag ) has been transferred in the same capacity to the Income tax Appellate Tribunal, Mumbai Zone, Mumbai with effect from the forenoon of 16th March, 2009, vice Sri K.C. Singbai, Vice President, ITAT, Mumbai Zone.

My view, albeit prima facie, is that the soft-pedaling policy followed by the Madras High Court Judges has led to the present piquant situation. The lawyers appear to have been encouraged by the wrong ‘signals sent out and seemed to think that they could do anything and get away within the Court premises. Regretfully, far from being the upholders of the rule of law, the lawyers seem to have behaved as hooligans and miscreants. The incidents that transpired over a last month or so make it clear that the lawyers seemed to be under the impression that, because they are officers of the Court, they are immune from the process of law and that they could get away with any unlawful act without being answerable to the law enforcing agency. It is most unfortunate that the soft policy adopted by the Acting Chief Justice of Madras High Court and its administration sent out clearly
a wrong message that encouraged and emboldened the lawyers into becoming law breakers.