Wp/5781/2007 Of Pact Securities And Financial Services Ltd v. Commissioner Of Income Tax-Iv, Govt Of India, 3Rd Floor

IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) MONDAY, THE NINETH DAY OF APRILTWO THOUSAND AND SEVEN PRESENT THE HON'BLE SRI JUSTICE BILAL NAZKIand THE HON'BLE SRI JUSTICE NOOTY RAMAMOHANA RAO W.P.M.P.Nos.7383 & 8462 of 2007andWRIT PETITION No.5781 of 2007 Between: Pact Securities & Financial Services Ltd.,Erramanzil, Hyderabad. AND ..... PETITIONER 1.The Commissioner of Income Tax-IV,Govt of India, Basheerbagh, Hyderabad and 2 others. .....RESPONDENTS THE HON'BLE SRI JUSTICE BILAL NAZKIand THE HON'BLE SRI JUSTICE NOOTY RAMAMOHANARAO W.P.M.P.Nos.7383 & 8462 of 2007andWRIT PETITION No.5781 of 2007 Common Order:(Per Hon’ble Sri Justice Bilal Nazki,) Heard the learned Counsel for the parties. Withtheir consent, the Writ Petition is being disposed of at this stage. Pending appeal, the first respondent-Commissioner of Income Tax passed an order of staysubject to the condition that 25% of the demandedtax shall be paid. This necessitated the petitioner tofile this Writ Petition.During pendency of this Writ Petition, accordingto the petitioner, the bank account of the petitionerhas been attached and 25% of the demanded taxamounting to Rs.3,20,000/- has already beenrecovered from the said bank account. Since 25% of the demanded tax has alreadybeen recovered, we feel that no further orders can bepassed now in this Writ petition The order passed bythe first respondent-authority granting stay isotherwise fair, but, it is stated by the learned Counselfor the petitioner that even after the recovery of 25%of the demanded tax, the attachment of thepetitioner’s bank account has not been removed. In this view of the matter, we dispose of the WritPetition with a direction that if 25% of the demandedtax has already been recovered, the attachment ofthe petitioner’s bank account should be deemed to have been revoked. The recovery of this amountwould, however, be subject to the outcome of theappeal. We direct the third respondent-appellateauthority to dispose of the appeal within a period oftwo months from the date of receipt of a copy of thisorder. W.P.M.P.Nos.7383 & 8462 of 2007 are also,accordingly, disposed of. No costs. Nazki, J)9thApril, 2006 ----------------------------------- (Bilal ------------------------------------ (Nooty Ramamohana Rao,J) LUR