Wp/1274/2005 Of Shri Rakesh Kumar Arora v. The Asstt. Commissioner Of Income Tax And Ors

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDITION WRIT PETITION NO.1274 OF 2005 Shri.Rakesh Kumar Arora...Petitioner V/s.The Assistant Commissionerof Income Tax & Ors. ...Respondents..... Mr.Sashi Tulsiyan with Mr.P.C.Tripathi, Advocate for thePetitioner. Mr.Arvind Pinto, Advocate for the Respondent. .... CORAM :S.V.GANGAPURWALA &A.M.BADAR JJ. DATED :6[th] July 2017. P.C. 1The petitioner assails the letter dated 31[st] July 2002directing him to furnish bank guaranty for release of the seizedjewellery thereby setting aside the order of the Commissioner(Appeals) whereby addition of income was directed on account ofjewellery. 2We have upheld the order of the Tribunal under orderdated 6[th] July 2017 in the Income-Tax Appeal No.501 of 2001 filedby the Revenue. 3In light of the above, the said impugned letter wouldalso lose its efficacy and there would be no impediment for releaseof the bank guaranty. In light of the above, we pass the following order : ORDER (i)The Bank Guaranty given by the petitioner pursuant tothe impugned letter dated 31[st] July 2002 shall bereleased forth with. (ii) Writ Petition is allowed, accordingly, and disposed of. ( A.M.BADAR J.) ( S.V.GANGAPURWALA J.)