Noblesse Oblige Estate P. Ltd v. Income Tax Offcer

$~10 *IN THE HIGH COURT OF DELHI AT NEW DELHI+W.P.(C) 9607/2017, CM No.39115/2017 & CM APPL. 39116/2017 NOBLESSE OBLIGE ESTATE P. LTD...... PetitionerThrough:Mr. Salil Aggarwal, Mr. Ravi Pratap,Mr. Uma Shankar and Mr. SankalpA. Sharma, Advocates. versus INCOME TAX OFFCER ..... RespondentThrough:Mr.RahulChaudhary,SeniorStanding Counsel for Revenue. CORAM:HON'BLE MR. JUSTICE SANJIV KHANNAHON'BLE MS. JUSTICE PRATHIBA M. SINGHO R D E R%31.10.2017 Aftersomehearinglearnedcounselforthepetitionerseekspermission to withdraw the writ petition and states that the petitioner shallraise all contentions and issues before the Assessing Officer including thecontention that the amount of Rs.12,00,20,500/- was given as advance forpurchase of land in the Assessment Year (AY) 2009-10 to M/s. RootInvestment Pvt. Ltd. which deal never fructified.In the subsequent AY2010-11 shares were issued against the said amounts. He further submitsthat the money for making the said investment was taken partly from theloan amount of Rs.9,53,00,000/- taken by the petitioner from India BullsFinancial Services Ltd. In view of the statement made by learned counsel for the petitioner,writ petition is dismissed as withdrawn. We have not expressed any opinion on the merits of the matter.The pending applications are disposed of asinfructuous. SANJIV KHANNA, J OCTOBER 31, 2017/dk PRATHIBA M. SINGH, J