Ifci Venture Capital Funds Limited v. Assistant Commissioner Of Income Tax, Central Circle 10(1) & Ors

$~5& 6 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 6019/2024 IFCI VENTURE CAPITAL FUNDS LIMITED .....Petitioner Through: Mr. S. Krishnan & Mr. Harshit Chauhan, Advs. versus ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 10(1) & ORS. .....Respondents Through: Mr. Gaurav Gupta, SSC with Mr. Shivendra Singh & Mr. Yojit Pareek, JSCs. 6 + W.P.(C) 6020/2024 IFCI VENTURE CAPITAL FUNDS LIMITED .....Petitioner Through: Mr. S. Krishnan & Mr. Harshit Chauhan, Advs. versus ASSISTANT COMMISSIONER OF INCOME TAX & ORS. .....Respondents Through: Mr. Gaurav Gupta, SSC with Mr. Shivendra Singh & Mr. Yojit Pareek, JSCs. CORAM: HON'BLE MR. JUSTICE YASHWANT VARMAHON'BLE MR. JUSTICE RAVINDER DUDEJAO R D E R 02.08.2024 % 1.These two writ petitions had been filed seeking directions for refund of amounts which the respondents are alleged to have adjusted despite an application for stay of demands being pending. 2.Taking note of the grievance which was raised, we had requested Mr. Gupta, learned counsel appearing for the respondents, to take appropriate directions. 3.From the instructions which have been provided to Mr. Gupta, we note that the Assessing Officer discloses that the demands for Assessment Years 2017-18 and 2018-19 were recovered in accordance with law on 03 December 2019 and 03 March 2021. The application for stay which the petitioner chose to make in terms of the Central Board of Direct Taxes Office Memorandum dated 29 February 2016 was dated 05 December 2022. 4.In view of the aforesaid, we find no merit in these writ petitions. They shall consequently stand dismissed. 5.We leave it open for the writ petitioner to pursue its applications for stay which are otherwise stated to be pending before the competent authority. YASHWANT VARMA, J AUGUST 2, 2024/kk RAVINDER DUDEJA, J