The Assistant Commissioner Of Cgst And Cx , Central Tax v. Magma Fincorpltd. And ORS

23-12-2020 Subrata Item no.8 & 9

IN THE HIGH COURT AT CALCUTTA

Civil Appellate Jurisdiction Appellate Side M.A.T.No.764 of 2020 The Assistant Commissioner of CGST And CX, Central Tax, Park Street Division, Kolkata South -vsMagma Fincorp Ltd. (formerly known as Magma Shrachi Finance Ltd.) & Ors.

With CAN No.1 of 2020 And CAN No.2 of 2020 With MAT No.824 of 2020 Mr. Bhaskar Prasad Banerjee Mr. Abhradip Maity ...for the appellant Mr. J.K. Mittal Mr. Paritosh Sinha Ms. Vandana Mittal Mr. Amitava Mitra Mr. Parag Chaturvedi Ms. Antara Chaudhuri ...for respondent no.1 These two appeals, involving a short point, are taken up for hearing dispensing with all formalities. We find no reason to interfere with the impugned orders dated 3rd November 2020 and 16th December 2020, except to the extent that the stay of recovery ordered would be conditional upon the respondent not discharging or encashing their term deposit having a present balance of over 6 crore with the State Bank of India, Commercial Branch, Kolkata (A/c No.39800969512), until disposal of the writ application or until further orders of the learned single judge, whichever is earlier. Learned counsel for the first respondent gives an undertaking to this court to this effect. The appellant shall inform the bank accordingly.

Learned counsel for the parties are at liberty to request the learned single judge to hear out the writ application as expeditiously as possible.

Both the appeals - MAT No.764 of 2020 along with CANs No.1 and 2 of 2020 and MAT No.824 of 2020 - are disposed of.

[I.P. Mukerji, J] [Kausik Chanda, J]