Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2022 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (2) TMI 1286 - HC - Income TaxLook Out Circular quashed - Whether LOC shall be deleted automatically and shall remain in force until and unless a deletion request is received from the Originator? - Learned Single Judge quashed the Look Out Circular (‘LOC’) issued against Respondent No.1(Income Tax Department) herein inter alia on the ground that the LOC has not been issued in terms of the Office Memorandum dated 05.12.2017 and that the circumstances of the case did not show that the LOC could be issued due to actions ‘detrimental to the economic interests of the country’ - HELD THAT:- Appellant has made out a prima facie case for grant of interim relief. The balance of convenience is also in favour of the Appellant and in case the impugned judgment is not stayed, irreparable loss shall be caused to the Appellant. We, accordingly, stay the operation, implementation and execution of the impugned judgment dated passed by the learned Single Judge till the next date of hearing. Respondent No.1 is hereby directed to deposit his passport with the Learned Registrar General of this Court, latest by 5.00 PM on 04.02.2022. The passport shall be kept by the Learned Registrar General in safe custody in a sealed cover. Since it is the stand of the Learned Senior Counsels appearing on behalf of Respondent No.1 that on account of business constraints, he is required to frequently travel abroad, we grant liberty to Respondent No.1 to file an appropriate application as and when the need arises to travel abroad, detailing the reasons therein. Needless to state, as and when such an application is preferred, the same shall be decided, based on facts and circumstances brought forth and in accordance with law.
|