Wp/224/2007 Of M/S. Prasad Film Laboratories Pvt. Limited v. The Assistant Commissioner Of Income Tax

IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) FRIDAY, THE FIFTH DAY OF JANUARYTWO THOUSAND AND SEVEN PRESENT THE HON'BLE MR JUSTICE J.CHELAMESWARANDTHE HON'BLE MR JUSTICE D.APPA RAO WRIT PETITION Nos.222, 223 AND 224 OF 2007 WRIT PETITION No.222 OF 2007 Between: M/s.Prasad Film Laboratories Pvt. Ltd.,Banjara Hills, rep. by its DirectorSri A.Ramesh, and another. AND ..... PETITIONERS The Assistant Commissioner of Income Tax,Circle-14(2), Hyderabad and another. WRIT PETITION No.223 OF 2007 ....RESPONDENTS Between: M/s.Prasad Film Laboratories Pvt. Ltd.,Banjara Hills, rep. by its DirectorSri A.Ramesh, and another. AND ..... PETITIONERS The Assistant Commissioner of Income Tax,Circle-14(2), Hyderabad and another. WRIT PETITION No.224 OF 2007 ....RESPONDENTS Between: M/s.Prasad Film Laboratories Pvt. Ltd.,Banjara Hills, rep. by its Director Sri A.Ramesh, and another. AND ..... PETITIONERS The Assistant Commissioner of Income Tax,Circle-14(2), Hyderabad and another. ....RESPONDENTS THE HON'BLE SRI JUSTICEJ.CHELAMESWARAND THE HON'BLE SRIJUSTICE D.APPA RAO WRIT PETITION Nos.222, 223 AND 224 OF 2006 C O M M O N O R D E R(Per Sri Justice J.Chelameswar) Aggrieved by an order of the Income Tax Appellate Tribunal dated29.12.2006 the unsuccessful petitioners therein, who are the appellants in ITANo.1075 to 1078/Hyd/2006 filed these writ petitions. It may not be necessary togo into the factual details or the merits of the appeal except to state that by theimpugned order the Tribunal declined to grant an interim order of stay ofrecovery of the amounts (both tax and interest) during the pendency of theabove-mentioned appeals. In substance, the amount in dispute is Rs.1,82,15,294/- as against thisadmittedly the petitioner is entitled to refund of an amount approximately ofRs.80,00,000/- although with reference to assessment years other than whichare concerned with the above-mentioned appeals. Heard the learned counsel for the petitioners and the learned SeniorCounsel appearing for the respondents. Counter-affidavit is already filed in all these writ petitions at this stageby the respondents. Having regard to the totality of the circumstances mentioned above, we are of the opinion that all these writ petitions can be disposed of at theadmission stage itself by directing the respondents not to take any coercivesteps for recovery of the amounts, which are the subject matter of dispute inthe abovementioned appeals, on condition the petitioner deposits an amount ofRs.40,00,000/- within a period of six weeks from today and the said amountshall either be appropriated by the respondents or refund it to the petitionersdepending on the outcome of the abovementioned appeals, in accordance withlaw. However, both the learned counsel appearing on either side agreed atleaston one point that the appeals are required to be disposed of at an early date. Therefore, we direct the Tribunal to dispose of the abovementioned appeals asexpeditiously as possible, preferably on or before 15[th] March, 2007. With the above, all these writ petitions are disposed of. -----------------------------------JUSTICE J.CHELAMESWAR --------------------------------JUSTICE D.APPA RAO THE HON'BLE MR JUSTICEJ.CHELAMESWARANDTHE HON’BLE MR JUSTICED.APPA RAO WRIT PETITION Nos.222, 223 AND 224 OF 2007 5 JANUARY, 2007