A Special Bench in the case of M/s Times Guaranty Ltd has been constituted to decide the following question: “On the facts and circumstances of the case, whether the unabsorbed depreciation relating to A.Y. 1997-1998 to 1999-2000 is to be dealt with in accordance with the Provisions of Section 32(2) as applicable for A.Y. 1997-1998 to 1999-2000 as claimed by the revenue or the same has to be dealt with in accordance with the said provisions as applicable to A. Y. 2003-04 and 04-05 as claimed by the Assessed”
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Appointments of Hon’ble Sr. Vice President and Vice Presidents
Hon’ble Shri R.V. Easwar, Judicial Member, has been elevated as Senior Vice President and posted to the Mumbai Bench of the Tribunal with effect from 25th November 2009. Shri. Easwar has qualified as LLM and ACA and practised as a lawyer from 1975 to 1991 in Chennai. After his elevation to the Bench in 1991, he has served the Kolkota, Mumbai, Delhi and Bangalore Benches. He has been a party to several landmark judgements such as Mid East Portfolio 87 ITD 537 (Mum) (SB), Lalsons Enterprises 89 ITD 26 (Del) (SB) and Kanel Oil (Ahd) (TM).
List of Special Bench matters in Mumbai pending constitution
A list of Special Bench matters pending in the Mumbai Bench of the Tribunal as of 1.11.2009 is available for download. The list of All – India Special Bench matters is available here.
Appeals involving s. 14A / Daga Capital to be blocked
Hearing of all matters, in which Special Bench decision in the case of Daga Capital Management Pvt.Ltd. is sought to be reviewed by the assessee, should not be heard and blocked upto January, 2010 or till the disposal of the matter by the Bombay or any other High Court, whichever is earlier.
Letter to Hon’ble Prime Minister and Hon’ble Finance Minister
We are greatly shocked and concerned to know that the Government has proposed changes in the rules concerning appointment of Members of the Income Tax Appellate Tribunal [‘I.T.A.T.’]. Among others, a proposal is to appoint Members of I.T.A.T. only for a limited tenure of 5 years, at a time, on contract basis. The Association strongly disapproves of such a regressive
move since such proposal will severely affect independence of the Members so appointed. The Association strongly opposes such a proposal which affects the independent judicial functioning of the I.T.A.T.
Transfer of Hon’ble Members (Sept’ 09)
Vide order dated 1st September 2009, the following Hon’ble Members have, in pursuance of the consultations of the collegium of the I.T.A.T. consisting of the President and two senior-most Vice-Presidents, been transferred, in the same capacity, to the Benches of the Tribunal as shown against their names with effect from the afternoon of 11th September, 2009.
Retirement of Hon’ble Shri. M. A. Bakshi, Vice President
Hon’ble Shri. Mansoor Ahmed Bakshi, Vice President, Mumbai Bench, shall retire on 2nd September 2009. In his honour, the Bar Association has arranged a Full Court reference on 2nd September.
Shri. Bakshi, BA, LLB, practiced as an advocate / tax consultant for 19 years in the Jammu & Kashmir High Court prior to his elevation to the Bench on 29th June 1989. Apart from the Mumbai Bench, Shri. Bakshi has served as Vice President of the Ahmedabad, Kolkota and Chandigarh Benches of the Tribunal.
Transfers of Hon’ble Members (July 2009)
Hon’ble Shri. M. K. Chaturvedi, JM, Vice-President, Chennai Zone has been appointed administrative Member of the Central Administrative Tribunal, Guwahati Bench.
Shri. Chaturvedi has been party to several landmark judgements such as Walkeshwar Triveni 88 ITD 159 (Mum) (SB), Kwality Milk Foods 100 ITD 199 (Che) (SB), Rogini Garments 108 ITD 49 (Che) (SB) among others.
To fill the vacancy, Shri. Pradeep Parikh, AM, Vice-President, ITAT, Hyderabad Zone has been transferred to the Chennai Bench in the same capacity.
Shri. P. P. Parikh practiced as a Chartered Accountant in Ahmedabad from 1975 to 1994 till his elevation to the Bench on 24.05.1994.
Shri. Parikh has been party to several landmark judgements such as R. M. Valliappan 103 ITD 63 (Che) (SB), Narang Hotels 74 ITD 190 (Mum) (SB), Smt. Mahesh Batra 95 ITD 152 (Asr) (SB) among others.
We wish both Hon’ble Members good luck in their new postings.
Retirement of Hon’ble Sr. Vice President
Hon’ble Shri R. P. Garg, Sr. Vice President, Delhi Bench retired on 6th August 2009. A full court reference in his honour was held by the Delhi Bench of the Tribunal. Shri. Garg has been party to several landmark judgements such as ABN AMRO 97 ITD 89 (Cal) (SB), Gujarat Gas 115 ITD 218 (Ahd) (SB), Ashima Syntex 100 ITD 247 (Ahd) (SB) among others. We wish the Hon’ble member good luck in his new endeavours.
Special Bench on right of ex-ITAT Members to practice
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?
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