Exemption option once exercised cannot be withdrawn mid-year when the notification expressly prohibits revocation.

An exemption under Notification No. 9/2003 could not be partially revoked after the option had been exercised, because the benefit was expressly conditional on the option not being withdrawn during the remaining part of the financial year. Having accepted the exemption, the petitioner remained bound by its terms. As no illegality in the impugned order was shown, the High Court declined interference and dismissed the writ petition as lacking merit.

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Issues: Whether the petitioner, having availed the benefit of exemption under Notification No. 9/2003 dated 15-3-2003, could withdraw the option during the remaining part of the financial year and challenge the impugned order.

Analysis: The exemption was expressly subject to the condition that the option once exercised would not be withdrawn during the remaining part of the financial year. Having taken the benefit of the notification, the petitioner was bound by the conditions attached to that benefit. In the absence of any illegality in the impugned order, no interference was warranted.

Conclusion: The challenge was rejected and the writ petition was dismissed as devoid of merit.

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