Briggs Trading Co Pvt Ltd v. Income Tax Officer Circle 6(1)(4) And 2 ORS

Digitally signed by GAURI AMIT GAEKWAD Date:

2021.12.22 10:40:01 +0530 1/1 905.WP-3049-2019.doc GAURI AMIT GAEKWAD

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION NO.3049 OF 2019 Briggs Trading Co. Pvt. Ltd.

....Petitioner V/s.

Income Tax Officer Circle 6 (1) (4) & Ors. ....Respondents ---- Mr. Madhur Agrawal i/b. Mr. Jay N. Bhansali for petitioner. Mr. Suresh Kumar for respondents.

---- CORAM : K.R. SHRIRAM & AMIT B. BORKAR, JJ.

DATED : 20th DECEMBER 2021 P.C. :

After the petition was heard for some time, Mr. Agrawal, on instructions sought leave to withdraw the petition with liberty to raise all points before the concerned authority. Mr. Agrawal submitted that the concerned authority should be even directed to consider whether there was any provision under the Act to substitute market price with the consideration received by the parties for transfer of shares. We do not wish to give any such directions but every submission that petitioner would make will naturally be considered by the concerned authority, who will also give a finding on each of the submissions made.

Petition accordingly dismissed as withdrawn.

(AMIT B. BORKAR, J.) (K.R. SHRIRAM, J.) Gauri Gaekwad