Nma/2025/2017 Of Maharashtra Industrial Development Corporation v. Dy. Director Of Income Tax (Exemption-I-1) And Anr

Priya Soparkar 157 nma 2025-17 in itxa 10-16-o IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION NOTICE OF MOTION NO.2025 OF 2017 ININCOME TAX APPEAL NO.10 OF 2016 Maharashtra Industrial Development Corporation… Applicant/appellant V/s.Dy. Director of Income Tax (Exemptions)-I(1) and anr.… Respondent --- Mr.V.Sridharan, Senior counsel with Mr.Jas Sanghavi with Mr.Sanmati Roonka i/by M/s PDS Legal for the Applicant.Mr.Nirmal Chandra Mohanty for the Respondent. --- CORAM : AKIL KURESHI AND M.S.SANKLECHA, JJ. DATE : JANUARY 3, 2019. P.C.:- 1.This notice of motion is taken out by the Appellant-Maharashtra Industrial Development Corporation. One of theprayers is for restraining the Respondent No.1 from recoveringtax, interest or penalty from the assessee pending disposal of thepresent appeal. 2.Having heard learned counsel for the parties, we notice Priya Soparkar 257 nma 2025-17 in itxa 10-16-o that the Income Tax Appeal has already been admitted. Aquestion of law has been framed. Subsequently, in the secondround the Tribunal has also given substantial relief to the assesseeon facts, however remanding a limited issue before the AssessingOfficer for fresh consideration. At this stage therefore, till theAssessing Officer passes such fresh order pursuant to theTribunal's subsequent order dated 7[th] September, 2018, questionof enforcing any tax, interest or penalty against the assesseewould not arise. 3.Under the circumstances, while disposing of this notice ofmotion, it is provided that till the Assessing Officer passes orderconsequent to the order of Income Tax Appellate Tribunal dated7[th] September, 2018, there shall be no recovery of tax, interestor penalty against the assessee for the concerned assessmentyear 2011-2012. Notice of motion disposed of accordingly. (M.S.SANKLECHA,J.) (AKIL KURESHI,J.)….