Allowed

Sociedade De Fomento Industrial Pvt. Ltd., v. the Assistant Commissioner of Income-Tax, CIRCLE-1, Margao and 2 Ors.

Bombay HC14 Feb 2019MCA/171/2019

Case brief

AI extract

What is this about?

The High Court allowed the applicant's misc. civil application to permit furnishing a bank guarantee from a Scheduled Bank (ICICI) instead of a Nationalized Bank, as requested in the alternative prayer, with the respondent having no objection.

What did the court decide?

Permitted the Applicant to furnish Bank Guarantee from ICICI Bank (a Scheduled Bank) pursuant to order dated 08.05.2015.

Sociedade De Fomento Industrial Pvt. Ltd., Vs the Assistant Commissioner of Income-Tax, CIRCLE-1, Margao and 2 Ors. — Bombay HC (2019) — LawSathi Research

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 1 mca171-19-14-02-19

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Santosh

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 IN THE HIGH COURT OF BOMBAY AT GOA
MISC. CIVIL APPLICATION NO.171 OF 2019
IN

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WRIT PETITION NO.178 OF 2015

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Sociedade de Fomento Industrial
Pvt. Ltd. ….. Applicant.
 Versus
The Assistant Commissioner of Income
Tax and others. …... Respondents.

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Mr. S. S. Kantak, Senior Advocate with Ms. Swati S. Kamat Wagh,
Advocate for the Applicant.

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Ms. Susan Linhares, Junior Central Govt. Standing Counsel for the
Respondents.

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Coram : M.S. Sonak &
 Prithviraj K. Chavan, JJ.
 Date : 14 February 2019.
P.C.:

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1. The learned Counsel for the parties state that they have no
objection to this Bench taking up this Application.

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2.Heard Mr. S.S. Kantak, learned Senior Advocate, with Ms.
Swati Kamat Wagh for the Applicant and Ms. Susan Linhares,
learned Standing Counsel for the Respondents.

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3.By this Civil Application, the Applicant seeks the following

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 2 mca171-19-14-02-19

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reliefs :

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“a) This Hon'ble Court be pleased to modify the Order
dated 08.05.2015, by relieving the Applicant from the
obligation of furnishing any Bank Guarantee from the date
of this application, in respect of reassessment proceedings
for AYs 2008-09 to 2011-12;

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b) In the alternative, this Hon'ble Court be pleased to
permit the Applicant to furnish Bank Guarantee of any
Scheduled Bank instead of a Nationalized Bank by ordering
that the word “Nationalized” in para 9 of the Order dated
08.05.2015 be replaced and substituted by the word
“Scheduled”;

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c) Pass such other and further Orders, as this Hon'ble
Court deems fit and proper”.

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4.Mr. Kantak, learned Senior Advocate for the Applicants, on
the basis of the instructions, makes a statement that the Applicants do
not press the relief in terms of prayer clause (a), at this stage.

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5.In so far as the relief in terms of prayer clause (b) is
concerned, Ms. Linhares, learned Standing Counsel, on the basis of
the instructions, states that she has no objection if the same is
granted.

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6.Mr Kantak, learned Senior Advocate for the Applicant
states that the Applicants will furnish Bank Guarantee from ICICI
Bank.

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 3 mca171-19-14-02-19

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7. Accordingly, this Misc. Civil Application is made absolute

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in terms of prayer clause (b) as aforesaid. The Applicants are
permitted to furnish the Bank Guarantee from ICICI Bank, which is
stated to be a Scheduled Bank.

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8. The Misc. Civil Application is disposed of in the aforesaid

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terms.

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(Prithviraj K. Chavan, J.) (M.S. Sonak, J.)

Sociedade De Fomento Industrial Pvt. Ltd., v. the Assistant Commissioner of Income-Tax, CIRCLE-1, Margao and 2 Ors.

Case brief

What is this about?

What did the court decide?

Sociedade De Fomento Industrial Pvt. Ltd., v. the Assistant Commissioner of Income-Tax, CIRCLE-1, Margao and 2 Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

Coram

Case details

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