2016 (2) TMI 990

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Jain, Senior Standing counsel. O R D E R W.P.(C) 1568/2015 & CM No. 2798/2015 (for stay) 1. On 27th November 2014, this Court passed the following order: "In this writ petition, the grievance which has been raised with regard to the order dated 29.11.2012 passed by the Joint Director of Income Tax (Recovery) is that the relief relating to capital gains tax under Section 45 on sale of asset....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ojections and the actuals to the detriment of the proposer, the same would have been absorbed by the latter. The learned counsel for the respondents shall produce some materials/documents to substantiate this plea of his. Renotify on 15.02.2016." 2. Learned counsel for the Respondents has not been able to substantiate the plea that if there is any difference between the projections and the actua....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....me before the BIFR. In any event, it does not support the plea of the Revenue that the difference between the actuals and the projected figures should be absorbed by the Petitioner. 3. Consequently, while setting aside the order dated 29th November 2012 passed by the Directorate of Income Tax ('DIT') Recovery, the Court requires the DIT (Recovery) to once again consider the proposed scheme and th....