Icici Prudential Mutual Fund v. The Assistant Commissioner Of Income Tax, Circle - 1 And Anr

IN THE HIGH COURT OF BOMBAY AT GOA WRIT PETITION NO. 732 OF 2014 ICICI PRUDENTIAL MUTUAL FUND THROUGH ITS TRUSTEE, SIGNATORY MR. SURAJ R. BHOMKAR. VersusTHE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 1 AND ANR. ... Petitioner ... Respondent Mr. Farrokh Irani with Mr. Ryan Da Piedade Menezes, Advocate forthe Petitioner. Ms. Asha A. Desai, Advocate for Respondents No.1 & 2.Mr. S.R. Rivankar, Advocate for Respondent No.3. -Coram:F. M. REIS &M. S. SANKLECHA, JJ.-Date:17th April, 2015 P.C.: By an order dated 27/03/2015, we had directed CIT(A) to disposeof the stay application filed by the respondent no.3 on or before15/04/2015. When the matter was taken up today for hearing Mr.S.R. Rivankar, learned Counsel appearing for respondent no.3 hasproduced the order dated 10/04/2015 passed by the CIT(A), inter alia,directing the parties to the appeal to maintain status quo with regardto the recoveries of the disputed amounts. 2. Ms. A. Desai, learned Counsel appearing forrespondent-Revenue, upon instructions, states that in view of thesaid order passed by the CIT(A) the respondent no.1 shall recall notice dated 20/10/2014 and the order dated 14/11/2014. As theimpugned orders in the above petition have been withdrawn by therespondent-Revenue nothing survives in the above Writ Petition. But, however, Mr. Rivankar, learned Counsel appearing forrespondent no.3, upon instructions, states that until the disposal of theappeal before the CIT(A) the respondent no.3 shall not withdraw theamounts deposited with the petitioner herein. In case any adverseorder is passed against the respondent no.3 the amount shall not bewithdrawn for two weeks thereafter. We accept the said statementsof the learned Counsel for the respondents. 3. In view of the above, the learned Counsel appearing for thepetitioner seeks leave to withdraw the above Writ Petition. Thepetition stands dismissed as withdrawn. The statement of the learnedCounsel appearing for respondents no.1 & 3 referred to herein abovestands accepted. All contentions of both the parties on merits are leftopen. NH M. S. SANKLECHA, J. F. M. REIS, J.