TMI Blog2015 (9) TMI 1218X X X X Extracts X X X X X X X X Extracts X X X X ..... that behalf. However, Mr. Khambata for the appellant seeks leave of this Court to have access to the documents and records in relation to the subject aircraft once the Service Tax Commissioner takes custody and possession of the same. Mr. Khambata submits that this is in order to enable and facilitate the valuation being privately done by the third Respondent and the reports being handed over to the Commissioner which would assist him to determine the upset price. Sale proceeds from the sale of aircraft shall not be disbursed and released but should be brought in this Court. We grant leave to the third Respondent and the learned Counsel appearing for the same to raise this issue once we have the affidavit of the airlines before us. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T-ADJ/MSN 612 Owned 7 Helicopter VT-SVM/MSN 6761 Owned 8 Helicopter VT-LVM/MSN 6777 Owned 3) The subject matter of this Writ Petition is aircraft at Serial No. 3. It is stated to be under financial lease. It is urged that the lessee decides the goods to be purchased and its specifications and needed by the suppliers and consequently bears the risks and rewards incident to the ownership of the aircraft. After describing the nature of the transaction and according to the perception of this Commissioner, what has been urged before us is that the consortium of lending banks ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ltd. to the Service Tax Department. .. 23. In view of the necessary steps proposed to be taken by the Service Tax Department as required in law to auction the aircraft presently lying in the premises of MIAL, it is submitted that the entire process would take about two months. Hence it is humbly prayed that a leave of two months period may be granted to the Service Tax Department for appointing a valuer at international level so that the aircraft is inspected, valued and the upset price is determined to initiate and complete the process of auction/sale of the aircraft VTVJM (MSN 2650) and thus the Hon ble Court may be pleased to pass such orders to enable the Service Tax Department to complete the steps as stated above. 5) Prior ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ived by M/s. Kingfisher Airlines Ltd. but they are in receipt of all prior letters. They are aware that request is made to furnish the records and documents pertaining to subject aircraft and which are stated to be in possession of the Airlines Company. 9) Today, we heard the matter at length on two occasions. On the first occasion, we inquired from counsel appearing for the airlines as to whether these records and documents and which are sought for by the Service Tax Department are available and in whose custody they have been kept till date. To enable the Counsel to take complete instructions, we granted half an hour time and took the matter again. On resumption of the hearing, Mr. Sathelearned Senior Counsel informs the Court that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Service Tax Commissionerate. We would also highly appreciate if the competent official informs the Court on affidavit that the said airlines will extend all cooperation to the Department and allow it to appoint a valuer to have the valuation of the aircraft after all documents/papers are handed over. The further stand of the company should also be made clear and that is whether the company is agreeable to the aircraft being disposed of and in the manner thought fit and appropriate by the Service Tax Commissioner and in accordance with law. 11) We have passed this order after being informed that there is no direction and contrary to any of the above passed by any Court and in relation to this aircraft. 12) However, we must take note o ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
