In Purshottam Ghanshyam Budhwani v. Assistant Commissioner Of Income Tax & 3 Others, the High Court (2010) dismissed the appeal. The decision went in favour of the Revenue.
Decision: 2.The petition is accordingly dismissed as withdrawn.
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 JURISDICTION
WRIT PETITION NO.437 OF 2010
Purshottam Ghanshyam Budhwani
..Petitioner.
Versus
Assistant Commissioner of Income Tax & 3 others
..Respondents.
Dr.K. Shivram i/by Mr.Ajay R. Singh and Paras Savla for the petitioner.
Mr.Ajay Khair i/by Law Point for SEBI.
CORAM : Dr.D.Y. Chandrachud & J.P. Devadhar, JJ.
DATE : 4[th] March, 2010.
P.C. :
1.The learned counsel appearing on behalf of the petitioner seeks leave of the Court to withdraw the petition since an Appeal has been filed against the order of the Commissioner of Income Tax (Appeals) dated 7[th] November 2008. The learned counsel also states that since the shares in question have been attached by the Income Tax Department, the petitioner would pursue the remedy available in law.
2.The petition is accordingly dismissed as withdrawn. No costs.
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