IN HIGH COURT OF JUDICATURE AT MADRAS Dated : 11.07.2017 Coram Hon'ble Mr.Justice T.S.Sivagnanam Writ Petition No.27757 of 2003 and W.P.M.P.No. 33925 of 2003 Rakesh Sarin, ...Petitioner Vs. 1. Director of Income-tax, (Investigation), Unit I (3), Office of Income-tax Department, Nungambakkam High Road, Chennai-34. 2. Dy. Director of Income-tax, (Investigation), Unit I (3), Office of Income-tax Department, Nungambakkam High Road, Chennai-34. 3. Commissioner of Income-tax, Tamil Nadu, Office of Income-tax Department, Nungambakkam High Road, Chennai-34. 4. Standard Chartered Bank, (Consumer Banking Section) Armenian Street Branch, 58, Armenian Street, Chennai 600 001. ...Respondents http://www.judis.nic.in 2 Writ Petition, filed under Article 226 of Constitution of India, for issuance of Writ of Mandamus, directing respondents 1 to 3 to forthwith return to petitioner 28 items of securities seized from petitioner on 11th June; five items seized from petitioner's residence on 17th June 2003; and 5 items seized from standard chartered Bank particulars of all such items being furnished hereunder, and 3 items of FDRs which stand in name of Bhushan Arora which have been seized from petitioner and which have been unjustly encashed by respondents and also refund to petitioner entire amount realized by respondents by encashment of securities. For Petitioner : Mr.M.P.Senthil Kumar For Respondents 1to 3 : Mr.A.P.Srinivas Senior Standing Counsel and Mr.A.N.Jeyaprathap Standing Counsel Respondent-4 : Mr.S.Vasudevan ORDER Heard Mr.M.P.Senthil Kumar, learned counsel appearing for petitioner, Mr.A.P.Srinivas, learned Senior Standing Counsel and Mr.A.N.Jeyaprathap, learned Standing Counsel for respondents 1 to 3, and Mr.S.Vasudevan, learned counsel for fourth respondent. http://www.judis.nic.in 3 2. petitioner has filed this Writ Petition, praying for issuance of writ of mandamus, to direct respondents 1 to 3 to forthwith return to petitioner, 28 items of securities seized from petitioner on 11.06.2003 ; five items seized from petitioner's residence on 17.06.2003, and 5 items seized from Standard Chartered Bank, and 3 items of FDRs, which stand in name of Bhushan Arora, and also to refund to petitioner entire amount realized by respondents by encashment of those securities. 3. It may not be necessary to go into merits of matter, in light of submissions of learned counsel for petitioner that Department filed Writ Appeal, in W.A.No.874 of 2011, challenging order passed in Writ Petition filed by petitioner, in W.P.No.25078 of 2005, dated 04.03.2011, which was challenging order of assessment, dated 30.06.2005, for block assessment arrears years from 1997-98 to 2002-03, and part of 2003-04. said Writ Appeal was allowed. In another proceedings initiated by Commissioner of Income Tax, Central Circle, Chennai, before this Court, under Section 260 of Income Tax http://www.judis.nic.in 4 Act, 1961, in T.C.A No.677 of 2013, issue pertains to merits of assessment in respect of very same block assessment years 1997-98 to 2002-03, and part of 2003-04. Writ Appeal, in which, Department succeeded was with regard to jurisdictional aspect. Hon'ble Division Bench, by judgment, dated 21.10.2013, in T.C.A.No.677 of 2013, set aside order passed by Income Tax Appellate Tribunal (ITAT) and remanded matter back to file of ITAT for consideration on merits. On remand, matter is now pending before ITAT as IT (SS) A. No.66/Mds/2007. When this Writ Petition was entertained, order of interim injunction, restraining respondents 1 to 3 from encashing any of valuable articles, comprising RBI Bonds and FDRs or taking any further steps to realize same was granted on 07.10.2003. This order was made absolute by order, dated 16.04.2004. Since Appeal has been directed to be heard afresh by Tribunal, interim injunction, which was granted in Writ Petition shall continue till Appeal is disposed of by Tribunal. 4. In light of above, Writ Petition is disposed of. respondents are not entitled to encash amounts, and they are entitled to http://www.judis.nic.in 5 retain security as such. No costs. Consequently, connected Miscellaneous Petition is closed. 11.07.2017 sd Index : yes/no To 1.Director of Income-tax, (Investigation), Unit I (3), Office of Income-tax Department, Nungambakkam High Road, Chennai-34. 2.Dy. Director of Income-tax, (Investigation), Unit I (3), Office of Income-tax Department, Nungambakkam High Road, Chennai-34. 3.Commissioner of Income-tax, Tamil Nadu, Office of Income-tax Department, Nungambakkam High Road, Chennai-34. 4.Standard Chartered Bank, (Consumer Banking Section) Armenian Street Branch, 58, Armenian Street, Chennai 600 001. http://www.judis.nic.in 6 T.S.Sivagnanam, J. sd Writ Petition No.27757 of 2003 11.07.2017 http://www.judis.nic.in Rakesh Sarin v. Director of Income-tax, (Investigation), Chennai / Dy. Director of Income-tax, (Investigation), Chennai / Commissioner of Income-tax, Chennai / Standard Chartered Bank, Chennai