Wp/13098/2009 Of M/S. Mali Florez Limited v. Assistant Commissioner Of Income Tax

THE HON’BLE SRI JUSTICE V.V.S. RAOAND THE HON’BLE SRI JUSTICE RAMESH RANGANATHAN WRIT PETITION No.13098 of 2009 Dated:31.08.2010 Between: M/s. Mali Florex Limited, A Public LimitedCompany, having its office at 8-2-411, LumbiniRock Castle, Apt # Gf6, Road No.6, Banajara Hills,Hyderabad – 36, rep., by its Managing DirectorMr. S. Narayana Reddy, S/o.Late Hanumanth Reddy,Aged: 38 years, R/o.8-2-411, Lumbini Rock Castle,Apt # Gf6, Road No.6, Banjara Hills, Hyderabad – 36And another .. Petitioner And Assistant Commissioner of Income Tax,Central Circle 6, 7[th] Avenue, Ayakar Bhavan,Bhasheerbagh, Hyderabad and others .. Respondents THE HON’BLE SRI JUSTICE V.V.S. RAO ANDTHE HON’BLE SRI JUSTICE RAMESH RANGANATHANWRIT PETITION No.13098 of 2009 ORDER:(per Hon’ble Sri Justice V.V.S. Rao) The Writ Petition is filed seeking a direction to the respondentsto credit a sum of Rs.2.30 crores paid by the State Bank of Hyderabadto the Commissioner of Income Tax, (Central Circle) towards taxliability for the assessment year 2008-09. Be it noted, the said amountwas the subject matter of an order under Section 132(3) of the IncomeTax Act, 1961 (hereafter called as the Act). This Court ordered noticeto the respondents. When the matter is called today, the Senior Standing Counselfor Income Tax submits that the amount of Rs.2.30 crores lying in thePublic Deposit account was adjusted in the regular account for theyear 2008-09. In view of the same, learned counsel for the petitionerdoes not press the writ petition and seeks permission to withdraw theWrit Petition with liberty to agitate the question of levy of interest underSection 234(b) and (c) of the Act, especially with reference to the timeof adjustment of the amount. Giving liberty to do so, the Writ Petition isdismissed as withdrawn. There shall be no order as to costs. _____________ V.V.S. RAO, J ____________________________ RAMESH RANGANATHAN, J 31.08.2010KH