DIRECTOR OF INCOME TAX Vs. MAERSK CO. LTD.

JUDGEMENT

(1.) These four applications are filed seeking review of the order passed by a Full Bench of this Court in ITA No. 26 of 2009 and batch dtd. 7/4/2011. While these review applications were filed more than four years after the order of the Full Bench dtd. 7/4/2011, and the explanation furnished in the applications, seeking condonation of delay, are wholly unsatisfactory, we are satisfied that, even on merits, the order of the Full Bench does not necessitate review.

(2.) The only contention urged by Mr. H.M. Bhatia, learned Senior Standing Counsel for Income Tax, is that the Full Bench had relied on an earlier Division Bench judgment of this Court in Commissioner of Income Tax and another Vs. Sedco Forex International Drilling Co. Ltd. 264 ITR 320, being unaware of the fact that the said judgment had been reversed by the Supreme Court in Sedco Forex International Drilling Inc. Vs. Commissioner of Income Tax 279 ITR 310; the Full Bench had also concurred with the views expressed by the earlier Division Bench, in CIT Vs. Ms Tide Water Marine International Inc. 2008 (2) UD 126, which had again relied on the judgment of the Division Bench in Commissioner of Income Tax Vs. Sedco Forex International Drilling Co. Ltd. 2003 Vol. 264 ITR 320; and as the Full Bench had relied on a Division Bench judgment of this Court, which had already been overruled by the Supreme Court, the order of the Full Bench suffers from an error apparent on the face of record, necessitating its review.

(3.) A Division Bench of this Court, in its order in ITA No. 26 of 2009 and batch dtd. 9/12/2010, had observed that the Tribunal had rendered judgment following the decision of this Court in CIT Vs. Sedco Forex International Drilling Inc. Ltd.; the said judgment may not be directly applicable to the case on hand; their view was contrary to another decision of this Court in CIT Vs. Tide Water Marine International Inc. (2008) 2 UD 126; and the matter should, therefore, be referred to a Larger Bench.