TaxTMI 
TaxTMI 
2018 (10) TMI 809
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.... Sinha and Mr. Manish Chhangani i/b. M/s. Khaitan and Co. for respondent no. 3. Ms. Melind Colaco-Associate Manager of BSE Ltd. present. P.C. :- 1. We have heard the petitioners' counsel at length as also Mr.Chhotaray appearing for the Revenue. The third respondent- Bombay Stock Exchange (BSE) has been impleaded by the petitioners knowing fully well that the instructions given by the petiti....
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....d in, carried out investigations by seeking information, including from petitioner no. 2. Pursuant thereto, the ED directed the BSE to annul the trade in the shares of KRBL Limited and refund the money back to the petitioners. The petitioners received from respondent no. 3 the money, but there was a shortfall of approximately Rs. 38 lakhs. That is taken to be the security transaction tax collected....
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.... the petitioners cannot seek refund from the Income Tax Department and by impleading the BSE as party respondent. This stand taken by the Income Tax Department appears to be correct. Nothing more is required other than the pleadings in the writ petition to come to a conclusion that it is respondent no. 3 who will have to seek the refund, if at all it is of the view that the security transaction ta....