M/S. Welspun India Ltd v. Asst. Commissioner Of Income-Tax, 7(3), Mumbai & Ors. Respondents

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORIGINAL SIDE WRIT PETITION NO.2027 OF 2004 M/s. Welspun India Ltd. Petitioner vs.1. Asst. Commissioner of Income-tax,7(3), Mumbai & ors.Respondents Mr. K. Gopal for the petitioner. Mr. R.V. Desai with Ms.S.V. Bharucha i/b. Mr.PankajKapoor for the respondents. CORAM: R. M. LODHA & J.P.DEVADHAR,JJ DATED: 2nd September 2004 P.C. Uttaranchal Welfare Society v. Commissioner of Income-tax & ors, 268 ITR 214. by the special auditor by the end of August 2004. The said letter dated 12th July 2004 reads thus: July 12, 2004 To, The Asst. Commissioner of Income-tax 7(3),Room No.643, 6th floor,Aayakar Bhavan,Mumbai 400 020. Sub: Appointment of auditor for special auditu/s.142(2A). A.Y.: 2001-02. Dear Sir, Please refer to the letter ACIT-7(3)/SpecialAudit/2003-04 dt. 25.03.04 received by usfrom your goodself for conducting specialaudit u/s. 142(2A) of the company for theAssessment Year 2001-02. M/s.Agarwal &Chhajed wanted to commence the audit at Vapion 12.07.04, however presently our factorystaff are engaged in preparation of quarterly,30th June, 04’ Profit & Loss A/c. and theBalance Sheet which will be subject to LimitedReview by the statutory auditors. In additionto this, quarterly Internal audit is also inprogress at Vapi factory. The preparation ofthe board meeting to beheld on or around27.07.04 is also in progress. The above workis expected to be over by 24.07.04.We will be able to schedule the visit ofspecial auditors at Vapi factory only after24.07.04. The auditors may take about twoweek time and the final audit report may takeabout 8-10 days thereafter. In view of theabove, we request your to kindly giveextension of time for submitting the report bythe special auditors by the end of August2004.We hope your goodself will accede to ouraforesaid request. We also assure you of ourfull co-operation to the special auditors during their special audit and completion ofreport at Vapi factory. Thanking you, Yours truly,For Welspun India Ltd.Sd/-Director/Authorised Signatory" the diverse aspects on merits canvassed before us. 7. Writ petition is, accordingly, dismissed in limine. (R.M. LODHA, J.) (J.P. DEVADHAR,J.)