A single-judge order disposing of a writ petition seeking return of seized securities. The court held that an existing interim injunction restraining the Income Tax Department and banks from encashing RBI Bonds and FDRs shall continue until a remanded appeal before the ITAT is disposed of, without deciding the merits of the seizure.
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IN THE HIGH COURT OF JUDICATURE AT MADRAS
Dated : 11.07.2017
The Hon'ble Mr.Justice T.S.Sivagnanam
Writ Petition No.27757 of 2003 and W.P.M.P.No. 33925 of 2003
Rakesh Sarin, ...Petitioner
Vs.
Office of the Income-tax Department, Nungambakkam High Road, Chennai-34.
Office of the Income-tax Department, Nungambakkam High Road, Chennai-34.
Writ Petition, filed under Article 226 of the Constitution of India, for issuance of Writ of Mandamus, directing the respondents 1 to 3 to forthwith return to the petitioner the 28 items of securities seized from the petitioner on 11th June; five items seized from the petitioner's residence on 17th June 2003; and 5 items seized from standard chartered Bank particulars of all such items being furnished hereunder, and 3 items of FDRs which stand in the name of Bhushan Arora which have been seized from the petitioner and which have been unjustly encashed by the respondents and also refund to the petitioner the entire amount realized by the respondents by encashment of the securities.
For Petitioner : Mr.M.P.Senthil Kumar
For Respondents 1to 3 : Mr.A.P.Srinivas Senior Standing Counsel and Mr.A.N.Jeyaprathap Standing Counsel
Respondent-4 : Mr.S.Vasudevan
O R D E R
Heard Mr.M.P.Senthil Kumar, the learned counsel appearing for the petitioner, Mr.A.P.Srinivas, learned Senior Standing Counsel and Mr.A.N.Jeyaprathap, the learned Standing Counsel for respondents 1 to 3, and Mr.S.Vasudevan, the learned counsel for the fourth respondent.
order of interim injunction, restraining the respondents 1 to 3 from encashing any of the valuable articles, comprising RBI Bonds and FDRs or taking any further steps to realize the same was granted on 07.10.2003. This order was made absolute by order, dated 16.04.2004. Since the Appeal has been directed to be heard afresh by the Tribunal, interim injunction, which was granted in the Writ Petition shall continue till the Appeal is disposed of by the Tribunal.
Sd/Asst.Registrar (CS VI) /true copy/ Sub Asst. Registrar To 1.Director of Income-tax, (Investigation), Unit I (3), Office of the Income-tax Department, Nungambakkam High Road, Chennai-34. 2.Dy. Director of Income-tax, (Investigation), Unit I (3), Office of the Income-tax Department, Nungambakkam High Road, Chennai-34. 3.Commissioner of Income-tax, Tamil Nadu, Office of the Income-tax Department, Nungambakkam High Road, Chennai-34. +1cc to Mr.A.D.Srinivas,Advocate sr.48380 +1cc to Mr.S.Vasudevan,Advocate sr.48601 +1cc to M/s.Mallika,Advocate sr.48159
Writ Petition No.27757 of 2003 rr(co) ss(4/9/2017)
1 issue framed by the court
Whether the interim injunction granted to restrain encashment of securities should continue given the pendency of an appeal before the Tribunal.
2 provisions across 2 enactments
Rakesh Sarin
Director of Income-tax
Standard Chartered Bank
T.S.Sivagnanam
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
