In Nms/318/2017 Of Citibank N.a v. Commissioner Of Income Tax City-Iii,Mumbai, the High Court (2017) allowed the appeal. The decision went in favour of the assessee.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDITION
NOTICE OF MOTION NO.318 OF 2017
IN
INCOME TAX REFERENCE NO.12 OF 2001
Citibank N.A. …ApplicantIn the Matter in Between :Citibank N.A. …ApplicantV/s.
The Commissioner of Income-Tax,City-III, Mumbai…Respondent
.....
Mr.Atul K. Jasani with Mr.B.Damodar I/by Kanga & Co., Advocatefor the Applicant.
Mr.Abhay Ahuja with Mr.P.A.Narayan, Advocate for theRespondent.
....
CORAM :S.V.GANGAPURWALA &A.M.BADAR JJ.
DATED :18[th] July 2017.
P.C.
1We have heard the learned counsel for the Applicantand the learned counsel for the Respondent.
2For the reasons stated in the affidavit accompanyingthe Notice of Motion, the Order dated 30[th] January 2017dismissing the Reference for default is recalled and the Referencebearing No.12 of 2001 is restored to its original position.
3Notice of Motion is allowed and accordingly disposedof.
( A.M.BADAR J.)
( S.V.GANGAPURWALA J.)
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