Noblesse Oblige Estate P. Ltd. v. Income Tax Offcer

$~10 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ W.P.(C) 9607/2017, CM No.39115/2017 & CM APPL. 39116/2017 NOBLESSE OBLIGE ESTATE P. LTD.

..... Petitioner Through:

Mr. Salil Aggarwal, Mr. Ravi Pratap, Mr. Uma Shankar and Mr. Sankalp A. Sharma, Advocates.

versus INCOME TAX OFFCER ..... Respondent Through:

Mr.

Rahul Chaudhary, Senior Standing Counsel for Revenue.

CORAM:

HON'BLE MR. JUSTICE SANJIV KHANNA HON'BLE MS. JUSTICE PRATHIBA M. SINGH

O R D E R

% 31.10.2017 After some hearing learned counsel for the petitioner seeks permission to withdraw the writ petition and states that the petitioner shall raise all contentions and issues before the Assessing Officer including the contention that the amount of Rs.12,00,20,500/- was given as advance for purchase of land in the Assessment Year (AY) 2009-10 to M/s. Root Investment Pvt. Ltd. which deal never fructified. In the subsequent AY 2010-11 shares were issued against the said amounts. He further submits that the money for making the said investment was taken partly from the loan amount of Rs.9,53,00,000/- taken by the petitioner from India Bulls Financial Services Ltd.

In view of the statement made by learned counsel for the petitioner, writ petition is dismissed as withdrawn. We have not expressed any opinion

on the merits of the matter.

The pending applications are disposed of as infructuous.

SANJIV KHANNA, J PRATHIBA M. SINGH, J OCTOBER 31, 2017/dk