TMI Blog2018 (10) TMI 809X X X X Extracts X X X X X X X X Extracts X X X X ..... by the petitioners, by the BSE. It is the BSE, who, according to the petitioners, deducted the tax known as security transaction tax and refunded the balance amount to the petitioners. The amount of the security transaction tax deducted by the BSE has been remitted to the Income Tax Department by the BSE. Therefore, the stand of the Income Tax Department and from the pleadings in the writ pet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... writ petition by holding that the petitioners have alternate efficacious remedies so as to recover the sum allegedly erroneously retained by the BSE. None prevents the BSE to adopt appropriate proceedings, including moving the Income Tax Department with the claim of refund. - WRIT PETITION NO. 2488 OF 2018 - - - Dated:- 10-10-2018 - S.C. DHARMADHIKARI B. P. COLABAWALLA, JJ. Mr. Bimal Raj ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... acted on par with the petitioners. That is how the petitioners' Fund Manager bought 64,94,491 shares of KRBL Limited on the platform of respondent no. 3. The relevant documents are annexed as Exhibit-'B'. 2. It is stated that the amount towards this acquisition of shares was transferred by the petitioners' Fund Manager. The amount has been forwarded to respondent no. 3. Thereaft ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d was made of the amount and forwarded for trading in the shares by the petitioners, by the BSE. It is the BSE, who, according to the petitioners, deducted the tax known as security transaction tax and refunded the balance amount to the petitioners. The amount of the security transaction tax deducted by the BSE has been remitted to the Income Tax Department by the BSE. Therefore, the stand of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which is purely factual, can be resolved in writ jurisdiction. Presently, the stand of the Income Tax Department, based on the pleadings in the writ petition that it is not their obligation to refund any tax amount to the petitioners, as no tax is collected by the Department from the petitioners, is accurate. That justifies the disposal of the writ petition by holding that the petitioners have ..... X X X X Extracts X X X X X X X X Extracts X X X X
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