1 wp3404-26.7 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION NO.3404 OF 2007 Shantilal Manakchand Lalwani ..Petitioner. Vs. Income Tax Officer, Ward 3(3), Malegaon and others ..Respondents. WITH WRIT PETITION NO.3424 OF 2007 Kantilal Manakchand Lalwani ..Petitioner. Vs. Income Tax Officer, Ward 3(3), Malegaon and others ..Respondents. .... Mr. N.R. Bubna for the Petitioner. Mr. Vimal Gupta for the Respondent. ..... CORAM : DR.D.Y.CHANDRACHUD & J.P.DEVADHAR, JJ. 26 July 2010. P.C. : During the course of the hearing, it is common ground between counsel appearing on behalf of the assessee and counsel appearing on behalf of the Revenue that the Assessing Officer shall, while passing an order of assessment have to do so in accordance with law, having regard to the judgment of the Supreme Court dated 25 March 2010 in Rikabchand 2 wp3404-26.7 Manakchand Lalwani v. Manmad Municipal Council (Civil Appeal NO. 3488, 3489, 3491 to 3493 and 3494-3497 of 2007) and the law laid down by the Supreme Court in Commissioner of Income Tax v. Ghanashyam (HUF) (315 ITR 1 (SC)). In view of the aforesaid position, no further directions are sought in these proceedings. On the request of counsel appearing on behalf of the Petitioner, both the Petitions are dismissed as withdrawn. (Dr. D.Y.Chandrachud, J.) (J.P. Devadhar, J.)