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Rpw/40/2016 Of The Commissioner Of Income Tax It-3 v. Formula One World Championship Ltd. And 5 Ors

High Court 10 Oct 2016 In favour of: Assessee
Forum / Bench
High Court · newos
Parties
Rpw/40/2016 Of The Commissioner Of Income Tax It-3 v. Formula One World Championship Ltd. And 5 Ors
Date of order
10 Oct 2016
Assessment year(s)
Outcome
Dismissed

Case summary

In Rpw/40/2016 Of The Commissioner Of Income Tax It-3 v. Formula One World Championship Ltd. And 5 Ors, the High Court (2016) dismissed the appeal. The decision went in favour of the assessee.

Decision: 3]Accordingly, the Review Petition is dismissed as withdrawn with liberty as aforesaid.

Summary auto-generated from the order below — read the full judgment for the complete reasoning.

The order — as passed by the High Court

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION REVIEW PETITION (WRIT PETITION) NO. 40 OF 2016 IN WRIT PETITION NO. 2129 OF 2014 The Commissioner of Income Tax, IT-3..PetitionerV/s.Formula One World Championship Ltdand ors... Respondents. Mr. Anil Singh, Addl. Solicitor General with Mr. Abhay Ahuja, Special Counsel, Geetika Gandhi for the Review Petitioner. Mr. J.D. Mistri, Sr. Advocate a/w. Mr. Darius Khambatta, Sr. Advocate, Ms F. Sethna, Mr. Sachit Jolly, Mrunal Parekh, Shantanu Singh, Shreema Doshi, Kameela Diler i/b DMD Advocates for Respondent No.1. Mr. Vaibhav Achawal i/b Udwadia & Co. for Respondent No.2. Mr. Nitin Thakkar, Sr. Advocate a/w. Mr. Gaurav Mehta, Mr. C.D. Mehta a/w. Mr. Naresh Chheda i/b Dhruve Liladhar & Co. for Respondent No.5. Manik Joshi, Aditi Shukla i/b Crawford Bayley for Respondent No.6. CORAM:M.S. SANKLECHA, J. AND M.S.SONAK, J.DATE :10 OCTOBER 2016. P.C.: 1]Mr. Anil Singh, learned Additional Solicitor General appearing for the review petitioner, on instructions, seeks to withdraw this petition. However, he seeks liberty to reserve his dssherla rights to take such proceedings as are advised in law in respect of the order dated 30 November 2015. 2]It is made clear that the withdrawal of this petition will not impact the writ petition already filed by the Revenue in the Hon'ble Delhi High Court. 3]Accordingly, the Review Petition is dismissed as withdrawn with liberty as aforesaid. (M.S.SONAK, J.) (M.S.SANKLECHA, J.)
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