Wp/22430/2014 Of M/S. A.p. Beverages Corporation Limited v. The Commissioner Of Income Tax-I

IN THE HIGH COURT OF JUDICATURE AT HYDERABAD FORTHE STATE OF TELANGANA AND THE STATE OF ANDHRAPRADESH (Special Original Jurisdiction) PRESENTTHE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTISENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR WRIT PETITION NO.22430 OF 2014 DATED: 06-08-2014 Between: M/s. A.P. Beverages Corporation Limited,Nampally, Hyderabad … Petitioner And The Commissioner of Income Tax-I,3[rd] Floor, Ayakar Bhavan, Hyderabadand others … Respondents THE HON’BLE THE CHIEF JUSTICE SRI KALYAN JYOTISENGUPTA AND THE HON’BLE SRI JUSTICE SANJAY KUMAR WRIT PETITION NO.22430 OF 2014 ORDER:(per Hon’ble the Chief Justice Sri Kalyan Jyoti Sengupta) The writ petition is heard and finally decided by the followingorder. The points agitated before us may be agitated before theCommissioner of Income Tax, Appeals. As we are told that a regularappeal has been preferred, all points are kept open. The petitioner shall make a deposit of Rs.200.00 crores(Rupees two hundred crores only) within a period of four weeks fromdate, without prejudice, subject to the result of the appeal. In the eventthe petitioner succeeds, the amount so deposited would be refundedor adjusted against other liabilities, if any. We therefore keep theimpugned notice in abeyance and it will abide by the result of theappeal. The petitioner would be free to operate the bank accounts,leaving Rs.200.00 crores in balance either in a single account or inmore than one account. The writ petition is accordingly disposed of. Pendingmiscellaneous petitions, if any, shall stand closed. No order as tocosts. ______________________ K.J. SENGUPTA, CJ _____________________ SANJAY KUMAR, J 06-08-2014Svv