2024 (1) TMI 1431

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..... e petitioners. Considering the above admission and the law laid down by this Court in Hindustan Unilever Ltd. [2015 (7) TMI 366 - BOMBAY HIGH COURT], Jet Privilege (P) Ltd. [2021 (8) TMI 593 - BOMBAY HIGH COURT] and Greatship (India) Ltd. [2022 (7) TMI 905 - BOMBAY HIGH COURT] the impugned order of adjustments is set aside. We think that interest of justice would be met if the respondents are directed to deposit the amount otherwise refundable to the petitioners as a consequence of setting aside the order in this Court within two weeks from today.
M.S. SONAK & JITENDRA JAIN, JJ. For the Petitioners: Mr. Ravi Sawana a/w Ms. Neha Sharma. For the Respondents: Mr. Akhileshwar Sharma. P.C.:- 1. Heard learned counsel for the parties. .....

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..... with the law. 7. As a consequence of setting aside of the order dated 5 June 2023, the respondents would be duty bound to refund the amounts to the petitioners. However, Mr. Sharma submits that the department has a case for making adjustments. Mr. Ravi Samant, learned counsel for the petitioners disputes this position. 8. In the peculiar facts of this case, we think that interest of justice would be met if the respondents are directed to deposit the amount otherwise refundable to the petitioners as a consequence of setting aside the order dated 5 June 2023 in this Court within two weeks from today. The amount shall be invested in a nationalised bank and shall abide by the orders that shall be made by the respondents under Section 245 of .....

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..... ion 245 of the Income Tax Act or granted any opportunity as contemplated by the above-referred decisions. 13. On the above grounds, we set aside the orders dated 8 May 2023 in Writ Petition No. 4891 of 2024 and 5 June 2023 in Writ Petition No.4879 of 2024 and for reason as applied in Writ Petition No.4892 of 2024, direct the respondents to deposit the refundable amounts claimed by the petitioners in this Court within two weeks from today. The amount should be deposited in a nationalised bank and will abide by the orders that the respondents may make under Section 245 of the Income Tax Act. Such orders must be made within two months by following the law and the decisions of this Court including, the decision in Hindustan Unilever Ltd. (supr .....

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