2021 (7) TMI 330

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....ts : Mrs.Hema Muralikrishnan (for R1) Senior Standing Counsel, Mr.K.K.Sivashanmugam (for R2) COMMON ORDER These writ petitions have been filed by mother and her two daughters seeking a mandamus as against the Assessing Authority in one group of writ petitions and the Branch Manager of Indian Overseas Bank, East Mada Street Branch, Chennai (Bank) in the second group of writ petitions to refund th....

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....tion had been invested in Rural Electrification Bonds in respect of which the petitioners had proposed to claim deduction under Section 54EC. 4. The investment made by them in the bank account has not been utilised in any way thereafter. The fact that the petitioners had sold the asset, filed no returns of income or invested only part consideration in the CGAS, has escaped the attention of the In....

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....ssessing authority seeking no objection for the same. There was no response, driving the petitioners to approach this Court seeking mandamus in the present writ petitions. 7. Heard Mr.N.V.Narayanan, learned counsel for the petitioners, Mrs.Hema Muralikrishnan, learned Senior Standing Counsel for R1 and Mr.K.K.Sivashanmugam, learned counsel for R2 bank. 8. As regards the taxability of the transac....