Bombay High Court
Uttam Value Steels Ltd. And Anr vs Assistant Commissioner Of Income Tax ... on 28 March, 2022
Bench: K.R. Shriram, N.R. Borkar
Digitally
signed by 1/2 932-WP(L)-9420-22.doc
MEERA
MEERA MAHESH
MAHESH JADHAV
JADHAV Date:
2022.03.29
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
16:07:39
+0530
ORDINARY ORIGINAL CIVIL JURISDICTION
WRIT PETITION (L) NO.9420 OF 2022
Uttam Value Steels Ltd. & Anr ....Petitioners
V/s.
Assistant Commissioner Of Income Tax & ors. ...Respondents
----
Mr. Vikram Deshmukh, Ms Siddhi Doshi and Mr. Ashwin Hrilukar i/b ALMT Legal for Petitioners Mr. Suresh Kumar for Respondents
----
CORAM : K.R. SHRIRAM & N.R. BORKAR, JJ DATED : 28th MARCH 2022 P.C. :
1 Mr. Deshmukh for petitioners states that the subject matter of this petition though, is a notice issued under Section 153C of the Income Tax Act 1961, will be squarely covered by a judgment of the Apex Court in Ghanshyam Mishra & Sons Private Limited Vs. Edelweiss Asset Reconstruction Company Limited1. Mr. Deshmukh states that another Division Bench of this Court at Nagpur had followed the said judgment and quashed the notice issued under Section 148. 2 Mr. Suresh Kumar submits that there are similar matters which have been scheduled to a date in April, of which he is not aware but submits that Ghanshyam Mishra (Supra) does not consider the aspect of prosecuting the Ex-Directors though, it says amount may not be recoverable from the company once steps have been taken under the Insolvency and Bankruptcy
1. 2021(9) SCC 657 Meera Jadhav 2/2 932-WP(L)-9420-22.doc Code. Mr. Suresh Kumar, therefore, requests for some time to take instructions and brief the Learned ASG.
3 Stand over to 29th April 2022.
4 Ad-interim relief in terms of prayer (b)(iv) is granted until the next date.
(N. R. BORKAR, J.) (K.R. SHRIRAM, J.) Meera Jadhav