M/S Sai Prasad Properties Ltd v. The Income Tax Officer And 2 Ors

IN THE HIGH COURT OF BOMBAY AT GOA WRIT PETITION NO. 200 OF 2014 M/S SAI PRASAD PROPERTIES LTD., THROUGH ITS DIRECTOR, SHRI SHASHANK BALASAHEB BHAPKAR Versus THE INCOME TAX OFFICER AND 2 ORS., ... Petitioner ... Respondents Mr Vilas P. Thali, Advocate for the petitioner.Ms. A. Dessai, Advocate for the respondents. -Coram:S. B. SHUKRE, J.-Date:28th April, 2014 P.C. After hearing the learned counsel for the petitioner and thelearned counsel for the respondents, it is seen that the appeal filedagainst order issued under Section 271D filed by the petitioner ispending with CIT(Appeals) and on the suggestion given by learnedcounsel for the petitioner that if this appeal is disposed of withinstipulated time, this Writ Petition can also be disposed of finally. 2. Learned counsel for the respondents upon instructions submitsthat the appeal pending before CIT(Appeals) can be disposed ofwithin a maximum period of six weeks from the date of the order. She also submits that if stay is to be continued by this Court, thepetitioner be directed to deposit anything between 10 to 25% ofpenalty amount as a security. Learned counsel for the petitionersubmits that the respondents have already recovered an amount of Rs.7.43 crores as set out in the reply of the respondents and,therefore, there is no need to give any further direction to thepetitioner regarding depositing of additional amount. He also stateson instruction that this amount can be remain deposited with therespondents till final disposal of the appeal. 3. In view of the above, this Writ Petition can be disposed of bygiving directions to the CIT(Appeals) for disposal of the appeal itself,which seems to be the bone of contention of the present controversy,within a fixed period of time. Accordingly, following directions areissued:- (a) Appeal filed by the petitioner pending before CIT(Appeals)shallbe disposed of within eight weeks from the date of the order. (b) The amount of Rs. 7.43 crores already recovered from thepetitioner shall remain deposited with the respondents as a securitytill final disposal of the appeal. (c) Interim stay granted by this Court on 7.4.2014 shall continuetill final disposal of the appeal and also until expiry of one weekfrom the date of disposal of the appeal. 4. Writ Petition stands disposed of in above terms. No order as to costs. 5. Authenticated copy of this order be furnished to the parties. S. B. SHUKRE, J.