Delhi Transco Ltd v. The Income Tax Department & Ors

$~57 *IN THE HIGH COURT OF DELHI AT NEW DELHI +W.P.(C) 490/2024 DELHI TRANSCO LTD..... PetitionerThrough:Ms. Rashmi Chopra, Ms. FizaChopra & Mr. Puneet Rathi,Advs. versus THE INCOME TAX DEPARTMENT & ORS ..... RespondentsThrough:Mr. Prashant Meharchandani,SSC with Mr. Akshant Singh,JSC for R- 1 & 2.Mr. Rajiv Kapur & Mr. AkshitKapur, Advs. for R-4/SBI. CORAM:HON'BLE MR. JUSTICE YASHWANT VARMAHON'BLE MR. JUSTICE PURUSHAINDRA KUMARKAURAV O R D E R%12.01.2024 CM APPL. 2164/2024 (Exemption) 1.Allowed, subject to all just exceptions. 2.Application is disposed of.W.P.(C) 490/2024 & CM APPL. 2163/2024 3.Bearing in mind the nature of challenge which stood raised wehad asked Mr. Meharchandani, learned counsel for respondent nos. 1& 2 to obtain instructions. Our direction to the aforesaid effect wasprompted by the admitted fact that the application of the petitionerunder Section 220(6) of the Income Tax Act, 1961 [“Act”] is yet to bedisposed of. 4.Mr.Meharchandanioninstructionssubmittedthatthe attachment of all bank accounts of the petitioner shall stand liftedforthwith and that appropriate directives in this respect shall becommunicatedtoalltheconcernedfinancialinstitutions.Mr.Meharchandani, further stated on instructions that the pending stayapplication shall also be disposed of within a period of one week fromtoday. The statement so made is recorded and accepted.5.In view of the aforesaid, we dispose of the instant writ petitionat this stage, subject to rights being reserved to the writ petitioner tofile a fresh petition once the application for stay is disposed of and ifcause so arises. The challenges otherwise addressed on the writpetition shall be open to be urged in fresh and independentproceedings. 6.Order Dasti under the signature of the Court Master. YASHWANT VARMA, J. PURUSHAINDRA KUMAR KAURAV, J.JANUARY 12, 2024/kk