Deutsche Bank Ag & Others v. Commissioner Of Income Tax & Others

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION (L) NO.2839 OF 2010 Deutsche Bank AG & Others..Petitioners. Versus Commissioner of Income Tax & Others..Respondents. Mr.Rafiq Dada, Senior Counsel with Mr.Jitendra Jain i/by Mr.Anil T. Agarwal for the petitioner. Mr.Suresh Kumar for respondent Nos.1 & 4.Ms.S.V. Bharucha for respondent Nos.2 and 3. CORAM : J.P. Devadhar & R.M. Savant, JJ. P.C. : DATE : 22[nd] December, 2010. 1.The petitioners seek an order directing the respondent Nos.2 and 3 to dispose off the application made by the petitioners on 10-2-2007, whereby the petitioners had sought exemption to their existing Provident Fund Trust in the light of amendment to the Income Tax Act, 1961 by Finance Act, 2006. 2.Although the Regional Provident Fund Commissioner on being satisfied that the Provident Fund Trust maintained and administered by the petitioner’s fulfils the conditions for grant of exemption has granted relaxation under para 79 of the EPF Scheme, 1952 on 5-5-2009, it appears that till date the requisite exemption notification has not been issued by the Ministry of Labour, Union of India. It appears that the delay has occurred on account of the failure on the part of the Office of the Regional Provident Fund Commissioner in forwarding its recommendations to the Secretary, Ministry of Labour, Government of India, New Delhi. As noted earlier, the relaxation was granted on 5-5-2009, however, the recommendation was forwarded by the Office of the Regional Provident Fund Commissioner to the Secretary, Ministry of Labour, New Delhi only on 29-11-2010. 3.In these circumstances, the respondent No.4 (Union of India) is directed to issue the requisite exemption notification as expeditiously as possible and preferably before 31-12-2010. 4.In the meantime, the respondent No.1 is directed to take note of the relaxation granted to the petitioner’s Trust under para 79 of the EPF Scheme, 1952 on 5-5-2009 and act accordingly. 5.The Writ Petition is disposed off in terms of this order. No costs. (R.M. Savant, J.)