2016 (12) TMI 1610

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....anjira Dasgupta, Advs. For the Respondent : Mr. Ruchir Bhatia, Senior Standing Counsel with Mr. Puneet Rai, Junior Standing Counsel, Mr. P.P. Tripathi, Senior Adv. with Mr. Ankur Saigal and Mr. Kamaldeep Dayal, Advs. For the respondent O R D E R CM APPL. 44839/2016 (Exemption) 1. Allowed, subject to all just exceptions. W.P.(C) 11440/2016, CM APPL. 44837/2016 (stay) and CM APPL. 44838/201....

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....notice on behalf of the respondent no. 5, i.e., Jaypee Sports International Limited. 4. Issue notice to respondent no. 2, 3 and 4, returnable on 21.12.2016. In addition, service shall also be effected through e-mail by the court. 5. The petitioner claims a direction to the revenue, i.e. the Commissioner of Income Tax forthwith to withdraw an order dated 29th/ 30th November, 2016 issued in the wa....

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....eculiar situation arising as a consequence of the reversal of the order of the Hon'ble AAR by the Hon'ble Delhi High Court by giving clear directions as to the taxability in India of the amounts received by FOWC from JSIL and in view of the efforts being made by FOWC to encash the above mentioned SBLCs and to thus alienate the only assets available in India to recover the eventual tax demand in th....

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....ax Act during the operation of this order." 6. The Court is of the opinion that in the light of the judgment delivered on 30.11.2016 in WP(C) 9509/2016, WP(C) 10307/2016 and WP(C) 10145/2016, the order impugned and the attachment appear to be prima facie warranted in law. In the light of this order, the Court is of the opinion that the petitioner's bank is obliged to honour the direction of attac....