ROSS MURARKA (INDIA) P. LTD Vs. APPROPRIATE AUTHORITY

JUDGEMENT

(1.) This writ petition challenges the order dated February 26, 1993, passed by the Appropriate Authority under Section 269UD(1) of the Income-tax Act, 1961 ("the Act" for short).

(2.) Before the arguments could begin, learned Counsel for the petitioners Mr. Pardiwalla stated that the petitioners would not proceed against respondent No. 3 and accepting this statement, respondent No. 3 is dropped.

(3.) The relevant facts of the case may be stated as under: