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Vedanta Ltd (Formerly Known As Sesa Sterlite Ltd Formerly Earlier Sesa Goa Ltd) Versus The Assistant/Deputy Commissioner of Income-Tax, The Commissioner of Income Tax, The Union of India

2015 (6) TMI 327 - BOMBAY HIGH COURT

Attachment of the refund done under Section 281-B - Held that:- Petitioners furnishing a Bank Guarantee of a Nationalised Bank for an amount of ₹ 28,79,81,050 to the satisfaction of the Commissioner of Income Tax, the Respondent would vacate th .....

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sment year 2009-10 and eight weeks thereafter as it is the amounts likely to become due on the reassessment that the Revenue is seeking to secure by attachment of the refund. Once the Bank Guarantee in the above terms is furnished to the satisfaction .....

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For the Appellant : Mr R G Ramani, Adv. For the Respondent : Mr Asha Desai, Adv. JUDGMENT (Per M S Sanklecha,J. ) Rule. Returnable forthwith. Ms. Desai, learned Counsel for the Revenue waives service. At the request of the Counsel, the Petition is ta .....

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ssment year 2009-10 by Order dated 17.10.2014 is provisionally attached under Section 281-B of the Act. 3. After hearing the petition for sometime, Mr. Ramani, learned Counsel appearing for the Petitioner, on instructions, states they are undergoing .....

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nt of the refund of ₹ 28,79,81,050 due to the Petitioners and hand it over to the Petitioners. 4. Ms. Asha Desai, learned Counsel appearing for the Revenue, on instructions, states that she has no objection to the above arrangements. 5. In view .....

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